Current issues of regulating the cryptocurrency turnover in the Russian Federation

Digital era, Journal articles

Recommended link to article:
Levin L.L., Current issues of regulating the cryptocurrency turnover in the Russian Federation // Public Administration,
2021, №5 (133)
, с. 53-59.

LEONID LEONIDOVICH LEVINа

аOffice of the Government of the Russian Federation

DOI: 10.22394/2070-8378-2021-23-5-53-59

Abstract:
The article studies the issues of regulating the cryptocurrency circulation, the relationship between the space of fiat money (money, not secured by gold and other precious metals, when the nominal value is set and guaranteed by the state, regardless of the value of the material used for their manufacture) and a large number of new digital payment instruments, as well as examines the control over their circulation and conversion. The purpose of the article is to identify actual legal gaps in the regulation of cryptocurrencies, the uncertainties of their legal status and to find the promising conditions for its effective integration with the financial and economic space of the Russian Federation. The study is carried out considering the importance of preserving the financial, economic, and social security of the state. The relevance of the study is determined by the need for rapid development of the digital economy and accelerated formation of information society relations. The imperfection of the current regulatory framework remains due to the conceptual differences between centralized and decentralized approaches to determining the monetary component of currency policy of the state.

Keywords:
cryptocurrency, digital currency, digital money, digital economy, legal regulation, fiat money, crowdfunding

Received:
October 8, 2021

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