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The conceptual problems of legal regulation of the turnover of the cryptocurrency in the Russian Federation

Shaydullina V.   (PhD in Law, Senior lecturer, Financial University under the Government of the Russian Federation (Moscow))

This article contains a review of the conceptual problems of the bill «On Digital Financial Assets» prepared by the Ministry of Finance of the Russian Federation. There are the bill’s contradictions to the Russian legislation of the securities market and to the established international practice. The analysis of legal risks of the application of the bill is given. The author concludes that the term «digital financial assets» is incorrect and isn’t universally recognized in the current foreign practice in the sphere of turnover of the crypto currency. The analyze shows that a separate law on the legal regulation of the cryptocurrency’s turnover is not required, since the adoption of such a law will lead to excessive regulation. The author establishes that the regulation of the cryptoeconomic’s phenomena should be based on traditional law and not contradict it. At the same time it is more logical to consider the crypto-currency as «other property».

Keywords:cryptocurrency, initial coin offering, token, digital financial asset, investment, ICO.
 

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Citation link:
Shaydullina V. The conceptual problems of legal regulation of the turnover of the cryptocurrency in the Russian Federation // Современная наука: актуальные проблемы теории и практики. Серия: ЭКОНОМИКА и ПРАВО. -2018. -№03. -С. 192-195
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