UDC 336.74

Kurikov V.M.¹ (Khanty-Mansiysk, Russian Federation) – kurikov.v.m@yandex.ru; Arkanova I.G.¹ (Khanty-Mansiysk, Russian Federation) – arkanova.inna@inbox.ru; Baltin V.E.² (Orenburg, Russian Federation) – baltin.v.e@yandex.ru; Tagibova A.A.³ (Moscow, Russian Federation) – a.a.tagibova@mail.ru

¹Yugra State University

²Orenburg State University

³Moscow State Institute of International Relations (MGIMO)

Abstract. The purpose of this article is to study international monetary and financial institutions and their role in the world of decentralized monetary systems. The objectives of this article are to identify international monetary and financial institutions and characterize their role in the functioning of decentralized monetary systems. The work identified and briefly characterized the features of decentralized systems, established the specifics of their distribution in the world, international financial institutions that are regulators of cryptocurrency turnover, structure, problems of choosing tactics for relations with a decentralized monetary system and problems of their functioning. The problems of regulating decentralized monetary systems are especially relevant in the context of a paradigm shift in the monetary system in the world: there is a transition directly from centralization to decentralization of monetary systems, which meets the needs of civil society and the state. As a result, it was revealed that, in general, international organizations adhere to a similar position on strengthening control over decentralized systems in relation to cryptocurrencies. In conclusion, it is established that the role of the above-mentioned international organizations is mainly to regulate decentralized monetary systems to maintain financial stability in the world and national states, in particular. However, there are attempts at their direct participation in currency turnover (creation of banking cryptocurrencies), which indicates the active development of relevant relations. The need for constant regulation of decentralized monetary systems is emphasized to prevent possible violations of the rights and freedoms of both private and public investors and to counteract the legalization of illegally obtained income and prevent shadow banking.

Keywords: international institutions, monetary and financial institutions, monetary systems, decentralized systems, blockchain technologies.

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For citation: Kurikov V.M., Arkanova I.G., Baltin V.E., Tagibova A.A. The impact of decentralized monetary system on the functioning of international financial institutions. CITISE, 2024, no. 3, pp. 256-268.