ECONOMIC RISKS OF CRYPTOCURRENCIES AND CENTRAL BANK DIGITAL CURRENCIES (CBDCs)

Abstract

This scientific article provides a comprehensive and in-depth analysis of the economic risks associated with cryptocurrencies and central bank digital currencies (CBDCs). The study examines price volatility of digital assets, their impact on financial stability, banking system, and monetary policy, as well as cybersecurity, technological risks, and challenges of legal regulation. Additionally, a comparative analysis of cryptocurrencies and CBDCs is presented in terms of economic, institutional, and technological risks. The article relies on reports of international financial institutions, research by leading economists, and current publications in the field of digital economy. The expanded annotation emphasizes the scientific validity of the study and its contribution to understanding the global impact of digital currencies on the financial system.