Problems of Financial Legal Regulation of Digital Currencies in the Russian Federation
( Pp. 153-157)

More about authors
Razdorozhnyi Konstantin Borisovich aspirant kafedry finansovogo prava
Moscow State Law University named after O.E. Kutafin
Moscow, Russian Federation
Abstract:
The purpose of the research. The article analyzes the preconditions for the problems associated with the development of a legal framework regulating public relations in the market of new financial technologies. The study of this issue is aimed at finding optimal law-making solutions for the financial and legal regulation of the circulation of digital currencies. Results. As a result of the study, it was found that the ambiguous nature of monetary surrogates has led to the emergence of diametrically opposed points of view regarding the fixing of the legal regime for the circulation of cryptocurrencies - a new generation of private money. The author concluded that it is advisable to choose a permissive approach to the regulation of cryptocurrencies, which is explained by economic prospects, the presence of relevant experience in legal regulation in foreign countries, as well as the lack of effective tools for the state to control the shadow market of virtual assets. The merits of the legal definition of digital currency were highlighted, which encompasses both decentralized virtual currencies (cryptocurrencies) and centralized virtual currencies. At the same time, it was proposed that the Bank of Russia be empowered to establish the types of permissible transactions with digital currencies. In addition, it was pointed out the need to distinguish between the legal regulation of private digital currencies and the digital currency of the Bank of Russia, the aggregate presence of which is capable of providing the necessary balance in the market of new financial technologies.
How to Cite:
Razdorozhnyi K.B., (2021), PROBLEMS OF FINANCIAL LEGAL REGULATION OF DIGITAL CURRENCIES IN THE RUSSIAN FEDERATION. Economic Problems and Legal Practice, 4 => 153-157.
Reference list:
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Keywords:
Bank of Russia, financial technologies, financial law, digital currencies, cryptocurrencies, digital currencies of central banks.


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