The problems of determination of the crypto currency’s legal status in Russia

• Alekseenko A.P.

  Vladivostok State University of Economics and Service
  Vladivostok. Russia

• Lapshina Yu.V.

  Vladivostok State University of Economics and Service
  Vladivostok. Russia

The article considers the problem of determining the characteristic features of the crypto currency for the purposes of its legal regulation on the territory of the Russian Federation. Today there is no legislation in Russia which provides the legal treatment of this object. The draft law “On Digital Financial Assets” 2017 is not brilliant and has a lot of gaps, therefore it needs correction. The authors state that it is necessary to unambiguously determine the legal treatment of the crypto currency, and make it in without contradictions with civil legislation. A clear definition of the crypto currency is crucial, so the lawmakers should not create the law in a hurry as a useless instrument without key regulatory instruments. It is underlined that only comprehensive approach is acceptable to the questions of determination of the procedure for realizing and protecting the crypto currency holders’ rights, the crypto currency owners’ legal status, etc. The authors studied in the paper the practice of Russian courts, foreign legislation, ideas of the crypto currency’s researchers. Basing on the analysis of this material there is a conclusion that the crypto currency may not be attributed to any of the types of civil rights’ objects stipulated in the Article 128 of the Civil Code of the Russian Federation, except “other property”. The authors propose questions to be answered. They will allow finding the way which will help to create an integral system of the crypto currency’s legal regulation.

Keywords: crypto currency, mining, bitcoin, digital financial asset, object of civil rights.