The Digital Ruble as a Legitimate Means of Payment

Abstract

The paper is devoted to the study of the digital ruble as a legal means of payment and examination of the categories of the monetary item and monetary unit. The author objects to an unjustified use of the term «currency» in the law on digital financial assets and academic writings and expresses doubts about the emergence of a new type of civil rights — a digital right. In this regard, the paper raises the problem of «defect of the content» of the legislative act. The digital ruble is considered as a kind of a fiat currency. The author justifies that a legal means of payment can be represented by both cash and non-cash money. The author proves that the regime of the digital ruble as a legal means of payment represents a system of rules providing for the issuance by the Bank of Russia on behalf of the state of a means of payment in the form of a digital banknote accepted at face value on the territory of the Russian Federation to repay any monetary obligations, and servicing all transactions in the digital ruble.