DIGITAL FINANCE (E-MONEY) AND REGULATION: OPPORTUNITIES AND RISKS

Authors

Dilarom Bekchanova Master's Student Asia International University

Keywords:

Electronic money, digital finance, regulation, financial inclusion, cybersecurity, central bank digital currency

Abstract

The article analyzes the development of digital finance (e-money) systems, their role in the global financial system, and regulatory mechanisms. The main types of e-money systems, economic efficiency of their use, and opportunities for increasing financial inclusion are identified. Risks of e-money systems, international experience of their regulation, and practical recommendations for Uzbekistan are provided. Statistical indicators of the global e-money market for 2023-2024 and development forecasts are presented within the research framework.

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References

Huang, Z., Lahreche, A., Saito, M., & Wiriadinata, U. (2024). E-money and Monetary Policy Transmission. IMF Working Paper No. 2024/089, 45 p.

Dobler, M.C., Garrido, J.M., & Grolleman, D.J. (2021). E-money: Prudential Supervision, Oversight, and User Protection. IMF Departmental Paper No. 2021/027, 68 p.

Chiu, J., Davoodalhosseini, S.M., Jiang, J., & Zhu, Y. (2023). Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment. Journal of Political Economy, 131(5), 1213-1248.

Bank for International Settlements. (2023). Central bank digital currencies: system design and interoperability. Basel, 92 p.

World Bank Group. (2022). Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Washington, 234 p.

European Central Bank. (2024). Electronic Money Transactions Statistics. Frankfurt, 45 p.

McKinsey & Company. (2024). Global Payments Report 2024. New York, 156 p.

GSMA. (2024). State of the Industry Report on Mobile Money 2024. London, 124 p.

International Monetary Fund. (2023). Digital Money: Implications for Emerging Market and Developing Economies. Washington, 89 p.

Central Bank of the Republic of Uzbekistan. (2023). Annual Report 2022. Tashkent, 124 p.

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Published

2026-01-09

How to Cite

Dilarom Bekchanova. (2026). DIGITAL FINANCE (E-MONEY) AND REGULATION: OPPORTUNITIES AND RISKS. International Multidisciplinary Journal for Research & Development, 13(01), 125–128. Retrieved from https://ijmrd.in/index.php/imjrd/article/view/4693