INTERNATIONAL LEGAL PRACTICE OF REGULATION AND LIBERALIZATION OF CURRENCY RELATIONS

Abstract

Abstract. The proposed article analyzes the features and current state of the legislative development of instruments of currency regulation and currency control in international practice. The author managed to conduct a comprehensive study of this topic and to a certain extent reveal it. It was considered whether the monetary policy has a significant impact on improving the economy and economic security of the state. Also in the scientific article, as an example, one's own subjective views are given, the author's position is justified. The relevance of the scientific article is emphasized by the fact that currently many countries are trying to lift restrictions on foreign exchange transactions and the movement of capital funds in order to create an economy attractive to foreign investors and resistant to external influences. Thus, the process of liberalization consists in lifting restrictions on the implementation of currency transactions between currency residents and non-residents in the international arena. In this regard, the author has legislatively analyzed and considered in detail the issue of the formation and development of the principles of capital movement liberalization at the international legal level. As a result of the study, it was found that since the adoption by individual states or integration associations of legislation in the field of currency regulation and currency control, currency restrictions began to weaken (in particular, the obligation to reserve currency and issue transaction passports during cross-border transactions was excluded). Currently, developed countries are systematically continuing the liberalization of currency legislation. At the same time, within the framework of liberalization, there is an increase in state attention to the property and income of foreign currency residents abroad in order to "educate" the economy. At the same time, the idea was formulated that the interests of society and the state from the point of view of national security and welfare should be taken into account when liberalizing. On the example of integration associations, the advanced foreign practice of currency and financial regulation is revealed. In addition, the features of the regulatory legal acts of the Republic of Kazakhstan in this area were considered, the author expressed his opinion on the need for further improvement of legislation to create a financial system resistant to external influences and international pressure. Keywords: monetary and financial relations, liberalization, currency regulation, international documents, obligations, principle, capital movement, regulation of relations.