Journal

Volume 79, #1

       “Economic Sciences: theory and practice” is scientific, refereed, biannual journal. The Journal of “Economic Sciences: theory and practice” has been founded by Azerbaijan State University of Economics in 1994.              
The Journal has been received to registration in the centre of international ISSN (International Standard Series Number, ISSN-2220-8739). Also, it has been included by the Supreme attestation Commission under the President of Azerbaijan Republic to the list of scientific publications on economic sciences.


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STABLECOINS AND THEIR SPECIFIC FEATURES

Khayaladdin R.Taghiyev , Ulfat F.Yusifov, Murad R.Taghiyev


 ABSTRACT

The study provides an in-depth analysis of the nature of virtual currencies and the distinguishing features and types of stablecoins as one of them, as well as the factors that distinguish them from other virtual currencies. Then the similarities and differences between stablecoins and traditional currencies has been shown and the essence has been explained with examples. At the same time, the essence of the Central Bank Virtual Currency (CBDC) has been explained, its differences with stablecoins have been shown, and the possibility of using stablecoins in the banking system has been identified. In addition, the experience on stablecoins in United States, the United Kingdom, China and Thailand, as well as the international card organization VISA, has been studied, and it has been determined whether stablecoins should be regulated by the state. At the end, the final findings of the research and our conclusions have been reflected in the results section of the research.
 
Key words: stablecoins, traditional currencies, banking system, digitalization, virtual currencies
 
Jel classification: E50, E59



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