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CRYPTOCURRENCY AS NEW ECONOMIC AND LEGAL PHENOMENON

https://doi.org/10.26425/1816-4277-2018-2-137-142

Abstract

This article presents the main economic and legal approaches to determining the status of the cryptocurrency. It is proved that the establishment of effective regulation of the crypto currency is impossible without an understanding of its economic nature. Cryptocurrency is regarded as a currency (digital or virtual currency, analogue of the currency, money), as a universal financial instrument, commodity (property, asset, property), money surrogate. There are the main conceptual recommendations for the regulation of the cryptocurrency as a new economic and legal phenomenon.

About the Author

V. Shaydullina
Financial University under the Government of the Russian Federation
Russian Federation


References

1. Department of the Treasury Financial Crimes Enforcement Network Guidance FIN-2013-G001. Available at: https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf (accessed: 18.01.2018).

2. Initial coin offerings INFO 225 guidance. Available at: https://www.asic.gov.au/regulatory-resources/digital-transformation/ initial-coin-offerings/#what (accessed: 18.01.2018).

3. Internal Revenue Bulletin: 2014-16. Available at: https://www.irs.gov/irb/2014-16_IRB (accessed: 18.01.2018).

4. New York Codes, Rules And Regulations. Title 23. Department Of Financial Services, Chapter I. Regulations of the Superintendent of Financial Services, Part 200. Virtual Currencies. Available at: https://genius.com/New-york-state-department-of-financialservices-revised-bitlicense-regulations-annotated (accessed: 18.01.2018).

5. Resolution 300/2014. Virtual Currencies. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/230000-234999/231930/norma.htm (accessed: 18.01.2018).

6. Virtual Currencies and Beyond: Initial Considerations. Available at: http://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2016/12/31/Virtual-Currencies-and-Beyond-Initial-Considerations-43618 (accessed: 18.01.2018).


Review

For citations:


Shaydullina V. CRYPTOCURRENCY AS NEW ECONOMIC AND LEGAL PHENOMENON. Vestnik Universiteta. 2018;(2):137-142. (In Russ.) https://doi.org/10.26425/1816-4277-2018-2-137-142

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ISSN 1816-4277 (Print)
ISSN 2686-8415 (Online)