Authors: S.K. Demchenko, O.S. Demchenko, K. Vodopyanova

Title of the article: Modern money and modification of its functions: contemporary problems of money circulation

Year: 2026, Issue: 1, Pages: 26-35

Branch of knowledge: 5.2.1 Economics

Index UDK: 336.74

DOI: 10.26730/2587-5574-2026-1-26-35

Abstract: The current stage of economic development is characterized by active digitalization, which directly influences the evolution of monetary forms and functions. Traditional concepts of money as a universal medium of exchange, measure of value, and store of value are being rethought under the influence of new financial technologies. The emergence of electronic money, cryptocurrencies, and central bank digital currencies is transforming the structure of monetary circulation and necessitates an analysis of these changes. This article examines the theoretical foundations of the concept of money and its functions, as well as key areas of their transformation in the digital economy. Particular attention is paid to the impact of new forms of money on their performance of traditional functions, as well as on the functioning of the financial system as a whole. Contemporary issues arising in the sphere of monetary circulation are analyzed, including the complexities of accounting and regulation of digital assets, the risks of instability, and the lack of a unified regulatory framework. The study aims to identify key trends and problems associated with the modification of the functions of money, as well as to form a holistic understanding of the development prospects of the modern monetary system.

Key words: modern money cryptocurrency money circulation functions of money transformation of monetary functions digitalization

Receiving date: 28.12.2025

Approval date: 29.01.2026

Publication date: 12.03.2026

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