Ponamorenko V.E. Virtual currencies in understanding of the international organizations and national jurisdictions

Abstract: The subject of this research is the notion “virtual currencies” which is being viewed from the positions of international organizations, as well as from the side of the regional integration unions and national jurisdictions. The term virtual currencies is new to the scientific and legislations and requires the theoretical understanding and comparison with the adjacent notions of the theory of money. The article analyzes the positive aspects of the virtual money (their role in the financial system as a financial innovation), as well as their threat to the economic security of the state and region (on the example of the Eurasian Economic Union). The methodology of the research is based on the principles of complexity and methodological pluralism, and also includes the method of legal comparative study, systemic approach, and formal legal method. The scientific novelty of this work consists in comparison of the international legal and national approaches towards the definition of virtual currencies, their interaction with the similar notions of the electronic and digital money, as well as description of the role of virtual currencies in performing the illegal financial transactions as a negative factor of their proliferation and functionality. The main conclusion lies in the need for legalization of the notion of virtual currencies on the national level (Russian Federation) and the level of the regional integration union (Eurasian Economic Union). At the same time, the author believes that in determination of the legal regime for such currencies, it is better to avoid the most liberal positions along with the extremely restrictive positions.

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