PLACE AND ROLE OF CRYPTO CURRENCIES IN THE WORLD ECONOMIC SYSTEM

Abstract

The economic system of each country is based on the production and trade process. Each country or union of countries uses different currencies as a means of payment. In recent years, accelerated phenomena and increasingly frequent use of crypto currencies have led to the possibility of creating a completely different and decentralized payment system. The degree of integration of crypts into the world economic system varies from country to country. The aim of this study was to analyze the current position of crypto currencies in the world economy. A special accent was placed on the state of the use of crypto currencies and the problems encountered by users of crypto currencies in the Republic of Serbia and the surrounding countries. The uses of crypto currencies as well as the problems were examined both from a technical point of view and through the analysis of the legal norms regulating the application of crypto currencies. On the basis of everything that we examined, it can be said that Slovenia, as one of the countries of the former Yugoslavia, is predominant in many cases when the use of the crypto currencies is in question. What distinguishes it from other countries is the degree of integration as well as the legal frameworks that regulate the collection of tax for crypto currencies-based transactions.