LEGAL APPROACHES FOR THE REGULATION OF CRYPTOCURRENCY AND ICO IN FOREIGN COUNTRIES AND THE EUROPEAN UNION
https://doi.org/10.26425/1816-4277-2018-4-136-139
Abstract
The prerequisites and main trends in the development of the latest financial technologies (FinTech) are considered. The emerging approaches to the legal regulation of ICO and crypto currency in foreign countries and the European Union (EU) are analysed. It is concluded that the legal ways of regulating new phenomena are ambiguous while in the main states adhere to the principle of technological neutrality. In relation to the EU member states, there is a need to comply with the supranational legislation of the European Union. The conclusion about the high level of mobility of legal foundations in the field under investigation is made.
Keywords
FinTech,
ICO,
newest financial technologies,
FinTech,
blockchain,
ICO,
cryptocurrency,
European Union
About the Author
N. Efimova
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
References
1. Yefimova N. A. Vyzovy tsifrovoy ekonomiki: nekotoryye riski, svyazannyye s ICO i kriptovalyutoy [The challenges of the digital economy: some of the risks associated with the ICO and cryptocurrency] // Pravovaya reforma v sovremennoy Rossii: opyt i perspektivy: Muromtsevskiye chteniya; Sbornik trudov XVIII Mezhdunar. nauch. konf. / Pod red. N. I. Arkhipovoy, S. V. Timofeyeva, Ye. Yu. Knyazevoy. M.: RGGU, 2018. 270 p.
2. Maslennikov V. V., Fedotova M. A., Sorokin A. N. Novyye finansovyye tekhnologii menyayut nash mir [New financial technologies are changing our world] // Vestnik finansovogo universiteta, 2017, V. 21, I. 2, p. 7.
3. Tsvetkova L. A. Perspektivy razvitiya tekhnologii blokcheyn v Rossii: konkurentnyye preimushchestva i bar’yery [Prospects for the development of blockchain technology in Russia: competitive advantages and barriers] // Ekonomika nauki, 2017, V. 3, I. 4, p. 275-296.
4. Preduprezhdeniye i publikatsii dlya investorov [Warning and publications for investors] // Ofitsial’nyy sayt Yevropeyskogo upravleniya po nadzoru za rynkom tsennykh bumag. Available at: https://www.esma.europa.eu/search/site/ICO (accessed 15.03.2018).
5. Konsul’tativnyy dokument Bazel’skogo komiteta po bankovskomu nadzoru o posledstviyakh fintekh razrabotok dlya bankov i nadzornykh organov ot oktyabrya 2017 goda [Consultative document of the Basel Committee on banking supervision about the impact of FINTECH developments for banks and Supervisory authorities from October 2017]. Available at: https://www.bis.org/bcbs/publ/d415.pdf (accessed 15.03.2018).
6. Court of Justice of the European Union, Judgment in Case C-264/14 Skatteverket v David Hedqvist. Available at: https://curia.europa.eu/jcms/upload/docs/application/pdf/2015-10/cp150128en.pdf (accessed 15.03.2018).
7. Directive 2006/112/CE du Conseil, du 28 novembre 2006, relative au système commun de taxe sur la valeur ajoutée (JO L347, p.1). Available at: https://eur-lex.europa.eu/legal-content/FR/ALL/?uri=CELEX:32006L0112 (accessed 15.03.2018).
8. Iansiti M., Lakhani K. R. The Truth About Blockchain // Harvard Business Review. Issue January–February, 2017, p. 118–127.
9. Church Z. An MIT expert on why distributed ledgers and cryptocurrencies have the potential to affect every industry // MIT SLOAN SCHOOL OF MANAGEMENT, 2017. Available at: http://mitsloan.mit.edu/newsroom/articles/blockchain-explained (accessed 15.03.2018).
Review
For citations:
Efimova N. LEGAL APPROACHES FOR THE REGULATION OF CRYPTOCURRENCY AND ICO IN FOREIGN COUNTRIES AND THE EUROPEAN UNION. Vestnik Universiteta. 2018;(4):136-139. (In Russ.) https://doi.org/10.26425/1816-4277-2018-4-136-139
Views:
855
Email this article 