СТАН РОЗВИТКУ РИНКУ ЦИФРОВИХ ГРОШЕЙ В АЗЕРБАЙДЖАНІ
Authors: Тагієва Нігар , Умудова Жала 
Published: January 2025

The study of the prospects for the development of electronic currencies in the Republic of Azerbaijan is important in the context of the growing popularity of digital technologies and the expansion of electronic payments worldwide. Electronic money, also known as cryptocurrencies, represents a new type of payment instrument that is becoming increasingly widespread and popular in many countries, including the Republic of Azerbaijan. The significance of this topic is driven by the increasing global interest in the use of electronic money, including in Azerbaijan. In the rapidly evolving landscape of information technologies and the digital economy, cryptocurrencies have the potential to serve as an efficient and convenient tool for international payments while improving access to financial services for the population. However, due to recent security threats and challenges in cryptocurrency management, it is crucial to analyze and assess the feasibility of their application in Azerbaijan and identify the most effective methods for regulating their use. The aim of the article is to analyze the prospects for the development of electronic money in the Republic of Azerbaijan, evaluate the potential of cryptocurrencies to enhance the country's economic development, and explore the possibilities of using electronic money in the daily lives of Azerbaijani citizens. Object of the study: the process of developing the digital money market in Azerbaijan. Methods used in the study: comparative analysis, gradient, detailing and generalization, rating and grouping, etc. The hypothesis of the study. It is hypothesized that it is possible to determine a logical approach to studying the digital money market in Azerbaijan. Presentation of the main material. The findings of the study can help the government bodies of the Republic of Azerbaijan develop effective strategies and policies concerning cryptocurrencies. These strategies will ensure their secure and reliable use while fostering the development of new financial technologies in the country. The originality and practical significance of the study. The spread of the Internet and the active development of information technologies in the financial sector have been catalysts for the growth of electronic payments worldwide. The progress of electronic financial means, in turn, benefits users by reducing the time and money spent on transactions and simplifying cashless payments. On the other hand, electronic currencies expand the capabilities of banks in offering new products, increasing transaction volumes, and attracting new clients. They are widely used as payment tools and means of savings in some countries. Conclusions. Electronic payment methods can significantly influence the economy as they change how individuals and organizations conduct financial operations and interact with one another. While the definition of electronic money is relatively clear, the concepts of digital and virtual currencies remain somewhat ambiguous. Given that the global financial market presents various opportunities for using electronic and virtual payment tools in different transactions, this topic requires more detailed exploration. Future research will focus on developing specialized programs to advance the digital money market in Azerbaijan.