BLOCKCHAIN COMES TO UKRAINE

he article considers the possibilities of the implementation of blockchain technologies to increase the competitiveness of Ukraine. The purpose of the article is to study the problems and prospects for the introduction of blockchain technologies in Ukraine. The existing approaches to the legislative definition of the concept of cryptocurrencies are considered and systematized. The available proposals for defining the concept of such cryptocurrency in Ukraine, as well as differences in approaches are analyzed. Today, the Verkhovna Rada of Ukraine should choose the authority that will regulate the circulation of cryptocurrency in the country. The definition of such authority depends on the choice of approach to the interpretation of cryptocurrencies. If cryptocurrencies are recognized as a means of payment, they must be regulated by the National Bank of Ukraine, and if they are an asset, by the National Securities and Stock Market Commission. The potential consequences of each of the above decisions are analyzed. It is substantiated why cryptocurrencies should be treated as an asset. Variants of implementation of blockchain technologies after introduction of legislative changes are investigated. Further ways of the development of blockchain technologies in Ukraine are offered. Findings. Verkhovna Rada of Ukraine needs to finalize the draft law №3637 "On Virtual Assets", which will designate the NSSMC as the body that regulates the circulation of cryptocurrencies in Ukraine. In further defining the legislative framework for the sector Verkhovna Rada should take into account the following recommendations: - not to prohibit and not to introduce excessive regulation of blockchain technologies; - not to provide amateurish and populist recommendations to business representatives; - not to put bold experiments on critical elements of the state infrastructure; - carefully study the initiatives of the Ministry of Finance, as this department managed to gather highly qualified specialists; - listen to the recommendation of a representative of the public, in particular to the representatives of Blockchain-Ukraine Association and the relevant parliamentary association in Verkhovna Rada. The complex world requires extraordinary efforts to find difficult solutions.