Trends in the international development of legal support of economic law relations in the field of application of blockchain technology

The article considers the influence of international experience, in particular FATF recommendations, European legislation on the regulation of cryptocurrencies and blockchain technologies in Ukraine. Special attention is paid to the experience of the United Kingdom, EU and Switzerland, which successfully conducted test transactions in accordance with FATF requirements. The article emphasizes the difficulty of complying with international standards in blockchain operations due to the long terms of their implementation and the amount of necessary legal changes. The article defines the need for a scientific analysis of trends in the development of regulation of crypto-assets, with the aim of scientific forecasting of their further development, separation from existing legal institutions. The decision of the European Court of Human Rights, which confirms the payment function of cryptocurrencies, which makes them similar to fiat money, is analyzed. However, Ukrainian legislation does not yet recognize cryptocurrencies as a means of payment, which complicates their regulation. The article also highlights the benefits of blockchain technology for government and business, including transparency, immutability of data once recorded, and independence from participants. Positive changes in Ukrainian legislation, in particular the implementation of the EU Regulation on crypto-asset markets, should accelerate the development of the national economy and its integration with the European market. The article analyzes the close connection between the implementation of blockchain technologies and the financial and banking sectors of the economy, while analyzing the difference in development and the key characteristics of the use of blockchain when making payments, documentary transactions, and financing export-import agreements. Identified trends in the development of legal support, namely, the connection with the financial and economic (commercial) sector, the need to implement verification, identification and authentication of subjects for the legality of transactions – transactions carried out using blockchain technology, separation of blockchain technology from the cryptocurrency market, in the sense that cryptocurrencies are one of the possibilities of blockchain technology, and not blockchain technology is a service, auxiliary mechanism of the cryptocurrency market.