On the need to improve the system of legal regulation of digital assets in the Russian Federation

Abstract

The relevance of the work is substantiated by heightened interest to digitalization of all sectors of the economy in Russia and the world. This is explained by the fact that the states see an opportunity to earn a competitive advantage and ensure economic stability namely in the new technologies and their rapid implementation in life of the country. This resulted in the development of a range of draft laws aimed at regulating legal relations in the area of digital assets, part of which came into force by 2021. The authors examine the system of legislative regulation of transactions with digital assets, determine its merits and flaws, and carry out comparative analysis with the leading foreign practices. The authors’ special contribution to this research lies in the attempt to develop a unified approach towards understanding the legal nature of digital assets in the Russian Federation, disclosure of the concept and essence of digital assets were revealed, as well as analysis of the promising directions in legislative regulation of digital assets in Russia. The article outlines the problems of regulation of digital assets in Russia, and offers the ways for their solutions. The main conclusions consists in the development of  uniform approach towards the legal nature of digital currencies, description of the specific characteristics of information system the digital assets exist within, as well as substantiation of the need for their legislative consolidation.