FINANCIAL MONITORING OF CRYPTOCURRENCY TRANSACTIONS IN THE PUBLIC ADMINISTRATION SYSTEM: FOREIGN EXPERIENCE

The article examines the current international experience of Japan, Spain, Poland, Bulgaria, and the Republic of Belarus in the development of financial monitoring of cryptocurrency transactions. The methodological basis of the research was general scientific methods of cognition: observation, generalization, comparison, deduction, induction, analysis, synthesis. The article summarizes the models for building a financial monitoring system for transactions with cryptocurrencies: the «observation»model; the «risk minimization»model; and the «prohibition» model. The main characteristics of financial monitoring of transactions with cryptocurrency are determined by the following criteria: regulatory document, state body, punishment for committing a crime. Measures from foreign practice to improve the Financial Monitoring System in terms of the use of cryptocurrency for terrorist financing are defined, which can be taken into account by domestic regulators (in particular, identifying customers and beneficiaries for all transactions with cryptocurrency, regardless of its amount; developing mechanisms for information exchange between the State Financial Monitoring Service and law enforcement agencies; stimulating and supporting the work of the state financial monitoring service; strengthening and expanding international cooperation in the field of countering the financing of terrorism). Keywords: financial monitoring, terrorist financing, public administration, cryptocurrencies, digital assets