Prospects for the development of legal regulation of the crypto currency market in Russia

An accomplished fact is the development of the cryptocurrency market, including in Russia. At the same time, the Russian legal regulation mechanism has not yet been formed, and the existing draft law on the circulation of digital financial assets has not yet been agreed. Growing demand for cryptocur...

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Autor principal:	O. I. Larina
Formato:	article
Lenguaje:	RU
Publicado:	State University of Management 2020
Materias:	digital assets blockchain cryptocurrencies bitcoin legal regulation digital rights digital economy digital technologies digital legislation innovative technologies electronic payments Electronics TK7800-8360 Management information systems T58.6-58.62
Acceso en línea:	https://doaj.org/article/82ffb76c502645b6aeeb3e5f838e1bb6
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spelling	oai:doaj.org-article:82ffb76c502645b6aeeb3e5f838e1bb62021-11-14T15:54:16ZProspects for the development of legal regulation of the crypto currency market in Russia2658-34452686-840710.26425/2658-3445-2019-4-11-21https://doaj.org/article/82ffb76c502645b6aeeb3e5f838e1bb62020-02-01T00:00:00Zhttps://e-management.guu.ru/jour/article/view/71https://doaj.org/toc/2658-3445https://doaj.org/toc/2686-8407An accomplished fact is the development of the cryptocurrency market, including in Russia. At the same time, the Russian legal regulation mechanism has not yet been formed, and the existing draft law on the circulation of digital financial assets has not yet been agreed. Growing demand for cryptocurrencies from investors carries systemic risks, as well as threats of using digital financial assets for illegal purposes. In this regard, regulators in different countries are forced to take measures to legislate the circulation of such assets. At the same time, such measures can be quite different: from simply informing subjects about possible risks to the adoption of detailed laws establishing the rules for the circulation of such assets, the rights and obligations of subjects. At the same time, country approaches not only to regulation, but also to the definition of the essence of cryptocurrencies (money, assets, rights) differ greatly.The purpose of the article is to form recommendations on possible development of directions of Russian regulation of the cryptocurrency market. International approaches to the regulation of digital currencies, the practice and features of their application, as well as the proposed legal norms of the Russian bill on the use of digital financial assets in civil circulation have been analyzed in the article. As the research methodology, legal and comparative analysis of Russian and foreign practice has been used. Recommendations for making amendments to the current financial legislation and emerging digital legislation have been given. According to the author, the development of the cryptocurrency market in Russia in the near future will be influenced by the following facts: the adoption of digital legislation, international experience and practice of using cryptocurrencies, technological changes.O. I. LarinaState University of Managementarticledigital assetsblockchaincryptocurrenciesbitcoinlegal regulationdigital rightsdigital economydigital technologiesdigital legislationinnovative technologieselectronic paymentsElectronicsTK7800-8360Management information systemsT58.6-58.62RUE-Management, Vol 2, Iss 4, Pp 11-21 (2020)
institution	DOAJ
collection	DOAJ
language	RU
topic	digital assets blockchain cryptocurrencies bitcoin legal regulation digital rights digital economy digital technologies digital legislation innovative technologies electronic payments Electronics TK7800-8360 Management information systems T58.6-58.62
spellingShingle	digital assets blockchain cryptocurrencies bitcoin legal regulation digital rights digital economy digital technologies digital legislation innovative technologies electronic payments Electronics TK7800-8360 Management information systems T58.6-58.62 O. I. Larina Prospects for the development of legal regulation of the crypto currency market in Russia
description	An accomplished fact is the development of the cryptocurrency market, including in Russia. At the same time, the Russian legal regulation mechanism has not yet been formed, and the existing draft law on the circulation of digital financial assets has not yet been agreed. Growing demand for cryptocurrencies from investors carries systemic risks, as well as threats of using digital financial assets for illegal purposes. In this regard, regulators in different countries are forced to take measures to legislate the circulation of such assets. At the same time, such measures can be quite different: from simply informing subjects about possible risks to the adoption of detailed laws establishing the rules for the circulation of such assets, the rights and obligations of subjects. At the same time, country approaches not only to regulation, but also to the definition of the essence of cryptocurrencies (money, assets, rights) differ greatly.The purpose of the article is to form recommendations on possible development of directions of Russian regulation of the cryptocurrency market. International approaches to the regulation of digital currencies, the practice and features of their application, as well as the proposed legal norms of the Russian bill on the use of digital financial assets in civil circulation have been analyzed in the article. As the research methodology, legal and comparative analysis of Russian and foreign practice has been used. Recommendations for making amendments to the current financial legislation and emerging digital legislation have been given. According to the author, the development of the cryptocurrency market in Russia in the near future will be influenced by the following facts: the adoption of digital legislation, international experience and practice of using cryptocurrencies, technological changes.
format	article
author	O. I. Larina
author_facet	O. I. Larina
author_sort	O. I. Larina
title	Prospects for the development of legal regulation of the crypto currency market in Russia
title_short	Prospects for the development of legal regulation of the crypto currency market in Russia
title_full	Prospects for the development of legal regulation of the crypto currency market in Russia
title_fullStr	Prospects for the development of legal regulation of the crypto currency market in Russia
title_full_unstemmed	Prospects for the development of legal regulation of the crypto currency market in Russia
title_sort	prospects for the development of legal regulation of the crypto currency market in russia
publisher	State University of Management
publishDate	2020
url	https://doaj.org/article/82ffb76c502645b6aeeb3e5f838e1bb6
work_keys_str_mv	AT oilarina prospectsforthedevelopmentoflegalregulationofthecryptocurrencymarketinrussia
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Prospects for the development of legal regulation of the crypto currency market in Russia

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