scholarly journals FORMATION OF THE MARKET OF DIGITAL FINANCIAL ASSETS IN THE RUSSIAN FEDERATION

2019 ◽  
pp. 150-153
Author(s):  
V. Poliakova ◽  
L. Tokun
Keyword(s):  
Synergistic Effect ◽  
Russian Federation ◽  
Financial Assets ◽  
Federal Law ◽  
The Russian Federation ◽  
Digital Assets

The main prerequisites for introducing digital assets into the Russian practice, contributing to the development of digital financial relations, have been identified. The necessity of settling the category of “digital financial assets” at the level of legislation has been justified. The draft Federal Law “On Digital Financial Assets” has been analyzed in order to reveal the main points of implementation of activity in this area in the Russian conditions. The adoption of regulatory acts in the field of regulation of digital financial assets will provide a synergistic effect from digitalization processes.

Digital Financial Assets: Problems and Prospects of Legal Regulation

2020 ◽  
Vol 15 (6) ◽  
pp. 43-54
Author(s):  
T. E. Rozhdestvenskaya ◽  
A. G. Guznov
Keyword(s):  
Information Systems ◽  
Russian Federation ◽  
Legal Regulation ◽  
Financial Assets ◽  
Federal Law ◽  
Digital Rights ◽  
The Russian Federation ◽  
Federal Laws ◽  
And Diffusion ◽  
Digital Assets

The emergence and diffusion of digital assets, especially cryptocurrencies, necessitated their legal regulation. The paper investigates the main approaches to the legal regulation, which is already implemented in the Civil Code of the Russian Federation and other federal laws. Particular attention is paid to the novelties of the legal regulation that have been envisaged in the draft Federal Law “On Digital Financial Assets.” The draft Federal Law is being currently debated in the State Duma of the Russian Federation. The paper analyses in detail the concept of digital financial assets as a specific type of digital rights. The author also compares the concepts of uncertified securities and non-cash money. The author investigates the issues of digital financial assets issuance and peculiarities of their circulation. The paper substantiates the requirements applied to information systems and their operators included into the draft law in compliance with which the issue of digital financial assets is carried out.

Taxation Issues for Digital Financial Assets

2021 ◽  
pp. 089443932110039
Author(s):  
Viktor Shestak ◽  
Alla Kiseleva ◽  
Yuriy Kolesnikov
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Legal Regulation ◽  
Capital Gains ◽  
International Standards ◽  
Financial Assets ◽  
State Budget ◽  
The Russian Federation ◽  
Digital Assets ◽  
Tax Accounting

The objective of the study is to determine the status of a digital financial asset and the features of its taxation in the Russian Federation and progressive countries. Currently, there are three main taxation models that are used in this area: income tax, corporate income tax, and capital gains tax. The article explores the prospects for introducing the experience of foreign countries in the Russian Federation. The possible changes that may occur in tax regulation are analyzed. The experience of leading countries in the field of legal regulation of the use of digital financial assets and the taxation of cryptocurrency transactions is analyzed. Such an analysis will allow Russia to keep pace with countries with a leading economy and at the same time increase state budget revenue through taxation of cryptocurrency transactions. The study provides an analysis of the conceptual scenarios of digital income taxation and objects of taxation in the process of cryptocurrency creation. The study critically assesses possible options for applying international standards for tax accounting of digital assets. Groups of problematic issues that arise in the tax accounting of digital assets are developed. The prospect of further research is the development of tax accounting methods for each of the established entities for the creation and circulation of digital financial assets in accordance with accounting objects.

scholarly journals Implementation of FATF approaches to the regulation of virtual assets in the legislation of the Russian Federation: development prospects

2020 ◽  
pp. 138-147
Author(s):  
T. E. Rozhdestvenskaya ◽  
A. G. Guznov
Keyword(s):  
Russian Federation ◽  
Legal Status ◽  
Negative Impact ◽  
Legal Regulation ◽  
Financial Assets ◽  
Federal Law ◽  
Monetary System ◽  
Legitimate Interests ◽  
The Russian Federation ◽  
Development Prospects

The emergence and dissemination of digital values, and, above all, cryptocurrencies, necessitated their legal regulation. The article analyzes the basic FATF requirements to the legal regulation of virtual assets. The article discusses legislative novelties that enshrine the legal status of utilitarian digital rights, as well as the main provisions of the draft federal law “On Digital Financial Assets”, which is currently being discussed in the State Duma of the Federal Assembly of the Russian Federation. Particular attention is paid to the approaches to the legal regulation of cryptocurrencies. The risks arising from the legal circulation of cryptocurrencies are identified and systematized. It is concluded that deciding on the legalization of cryptocurrency requires provision of mechanisms protecting the rights and legitimate interests of its owners as well as mechanisms preventing possible negative impact of cryptocurrency on the state’s monetary system.

scholarly journals The problems of taxation of income of private and legal entities from operations with digital financial assets

2020 ◽  
pp. 88-96
Author(s):  
Konstantin Borisovich Razdorozhnyi
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Value Added ◽  
Legal Regulation ◽  
Financial Assets ◽  
Tax Legislation ◽  
Official Position ◽  
Accounting Rules ◽  
The Russian Federation ◽  
Digital Assets

The subject of this research is the problems of taxation of income from operations with digital financial assets. It is a known fact that the Institution of financial legal regulation of circulation of the digital financial assets is in the process of establishment; thus, there are yet no legislative norms on taxes and fees in this sphere of public relations, and the only reference point for taxpayers is the information letters from competent authorities and doctrinal sources. Among the relevant problems of taxation in this field, the author underlines the absence of an official position regarding the taxation of such operations with the value added tax (VAT), as well as the absence of the established procedures for documented proof of income and spending within the framework of circulation of digital financial assets. The main conclusion consists in the thesis that the existing in the Russian Federation system of taxes and fees can be implemented institutionally in the indicated sphere of public relations. The author also notes that the solution of these problems requires introduction of isolated amendments to tax legislation, among which is the inclusion of operations that are not subject to VAT in accordance with the Article 149 of the Taxation Code of the Russian Federation, as well as transactions with financial digital assets and digital currencies. Particular attention is turned to the need for elaboration of departmental instructions that would establish accounting rules for transactions with digital financial assets. Within the framework of this article, the author analyzes the foreign methods of documented proof of income and spending that can also be applied in Russian business practice.

scholarly journals DIGITAL FINANCIAL ASSETS: INTERNATIONAL APPROACHES TO REGULATION AND THEIR INFLUENCE ON RUSSIAN LAW

Banking law ◽  
2021 ◽  
Vol 1 ◽  
pp. 63-75
Author(s):  
Andrey V. Shamraev ◽  
Keyword(s):  
Russian Federation ◽  
Financial Assets ◽  
Federal Law ◽  
Digital Currency ◽  
The Russian Federation ◽  
Russian Law ◽  
The Law

This paper reviews the international approaches to regulation of digital financial assets and their influence on the Federal law of July 31, 2020 No. 259-FZ “On digital financial assets, digital currency and about modification of separate acts of the Russian Federation” (further — the Law on DFA).

scholarly journals Digital Currencies: Problems of Legal Regulation

2020 ◽  
Vol 15 (11) ◽  
pp. 103-113
Author(s):  
A. A. Sitnik
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Legal Regulation ◽  
Comprehensive System ◽  
Financial Assets ◽  
Federal Law ◽  
Financial Instrument ◽  
Digital Currency ◽  
The Russian Federation ◽  
First Time

The paper analyzes the provisions of the Federal Law of July 31, 2020, № 259-FZ “On Digital Financial Assets, Digital Currency and Amendments to Certain Legislative Acts of the Russian Federation” concerning the legal regulation of circulation of digital currencies. The author elucidates legal definitions of such concepts as “digital currency”, “organization of digital currency issuance”, “digital currency issuance”, “organization of circulation of digital currency” and focuses on their shortcomings. The paper also highlights the features of digital currencies, describes types of transactions with this financial instrument, outlines the circle of subjects of relations arising in the process of circulation of digital currencies. In general, it must be recognized that Law No. 259-FZ failed toresult in the creation of a comprehensive system of legal regulation of circulation of digital currencies, its provisions are piecemeal and sometimes controversial in nature. At the same time, the legal act under consideration is of fundamental importance because, for the first time at the legislative level, it has enshrined the rules governing public relations that are being formed in the process of circulation of digital currencies.

The Main Thing in the Law on Digital Financial Assets

Auditor ◽  
2020 ◽  
Vol 6 (11) ◽  
pp. 3-10
Author(s):  
E. Smirnov
Keyword(s):  
Russian Federation ◽  
Financial Assets ◽  
Federal Law ◽  
Digital Currency ◽  
The Russian Federation ◽  
The Law ◽  
Main Thing

Last summer, the Russian Parliament adopted Federal Law No. 259-FZ, which established the procedure for regulating relations that arise during the issuance, accounting and circulation of digital fi nancial assets, as well as during the circulation of digital currency in the Russian Federation.

scholarly journals Potential Applications of Digital Financial Assets

2020 ◽  
Vol 12 (6) ◽  
pp. 100-112
Author(s):  
V.N. Ageyev ◽  
◽  
A.V. Vlasov ◽  
◽  
Keyword(s):  
Practical Significance ◽  
Financial Assets ◽  
Federal Law ◽  
Digital Currency ◽  
Future State ◽  
Potential Applications ◽  
The Russian Federation ◽  
The Law ◽  
Digital Assets ◽  
Made In

The purpose of the article is to analyze the future state of legal issues connected to the use of digital assets after the adoption of the Federal Law “On digital financial assets, digital currency...” in the Russian Federation. Results: The main areas of application are highlighted for digital financial assets in the form of shares on blockchain and digital bills of exchange. The authors conclude that the new Law introduces significant restrictions, but at the same time opens up certain opportunities for business development in operations with digital financial assets. It is seen that the terminology used in the Law does not always correspond to the concepts and standards established in international legal and business practice. Practical significance: Recommendations made in this article may be useful in practice for the exchange operator of digital financial assets, the operator of the information system, and other subjects working in the innovative infrastructure when planning activities in the field of regulation of the Law and in dealing directly with digital financial assets. To harmonize activities with digital financial assets, the legislator and the regulator, represented by the Bank of Russia, can also use the practice-oriented approaches described by the authors.

scholarly journals Рroblems  of  Identifcation  and  Recognition  of  Digital  Financial  Assets  in  Accounting

2018 ◽  
Vol 5 (6) ◽  
pp. 61-66 ◽  
Author(s):  
I. М. Pozharitskaya
Keyword(s):  
Content Analysis ◽  
Russian Federation ◽  
Accounting System ◽  
Digital Recording ◽  
Financial Assets ◽  
Federal Law ◽  
Crypto Currency ◽  
Subject Areas ◽  
The Subject ◽  
The Russian Federation

The article considers the problematic accounting issues of recognizing digital fnancial assets (DFA) in particular crypto currencies and tokens according to the draft of the Federal Law of the Russian Federation “About Digital Financial Assets”. The methodology of the research is based on the content-analysis of the text of the above draft as well as the use of general scientifc methods and special tools of scientifc research such as analogy and comparison. There were also used methodological bases of accounting system cognition, i.e. identifcation of subjects, items and object of accounting; singling out problematic issues in organizing accounting on methodological, methodical and organizational levels. The main results of the research include the identifcation of new subjects when fnancial assets are created and circulate along with corresponding subject areas and accounting objects for each subject. In particular the following subjects are singled out: miners, validators, DFA operations offcers and other entities making transactions with DFA. New accounting objects for these subjects are; digital transaction; digital fnancial assets; digital recording; property right in a transaction register; crypto currency rate; income and expenditure related to turnover and/or exchange of DFA; settlements with exchange operators. The author critically assesses the IFRS applicability for crypto currency accounting and formulates groups of problematic issues at each level of organizing DFA accounting. The prospects of further research include the development of methodology for accounting of each identifed subject of DFA creation and turnover in accordance with the subject and objects of accounting.

Environmental and legal problems of ensuring biological safety in the Arctic zone of the Russian Federation

2020 ◽  
Vol 10 (1) ◽  
pp. 66-69
Author(s):  
Natalia Zhavoronkova ◽  
Vyacheslav Agafonov
Keyword(s):  
Russian Federation ◽  
Environmental Law ◽  
Point Of View ◽  
The Arctic ◽  
Arctic Zone ◽  
Federal Law ◽  
Biological Safety ◽  
Legal Problems ◽  
Potential Risks ◽  
The Russian Federation

The article is devoted to the study of modern theoretical and legal problems of ensuring biological security in the Arctic zone of the Russian Federation. The published Draft of Federal law No. 850485-7“On biological security of the Russian Federation”provides an opportunity to take a closer look at the problem of legal provision of biological security in relation to the most vulnerable ecosystems, and, first of all, the Arctic. The article considers the most important features and potential risks of the Arctic zone of the Russian Federation of critical importance from the point of view of biological hazards, the features (specificity) of biological safety problems from the point of view of organizational-legal features and, in particular, from the perspective of environmental law. It is proved that, given the special situation of the Arctic zone of the Russian Federation, in addition to the base Federal law“About biological safety” required a specific law on biological and ecological safety of the Arctic zone of the Russian Federation, which should be generated on a slightly different model than the draft Federal law «On biological safety”, to wear the most specific, applied nature.

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