Proceedings of the 33rd International Academic Conference, Vienna

PROBLEMS AND APPROACHES IN THE LEGAL REGULATION OF THE USE OF BITCOIN IN RUSSIA AND IN THE WORLD

ANDREY FEDOROVSKI , ROSTISLAV BERLINSKII, VLADISLAV ASHIKHMIN

Abstract:

The presentation is dedicated to problems and approaches in the legal regulation of the use of one of the cryptocurrencies - Bitcoin. Currently Bitcoin causes bigger interest among the world society, which is connected, in particular, with the highly increased exchange rate of this cryptocurrency. A number of countries have already formed a well-defined position and created a legal basis for development or for a complete or partial restriction of this cryptocurrency. But at the moment the most part of the world countries do not have a legal and regulatory framework of Bitcoin. In this presentation there is an analysis identifying pros and cons of this cryptocurrency and also the consequences of its further integration into the biggest world countries. Besides, our group has considered the experience of the number of countries in which the legal regulation of this cryptocurrency is established. The research offers a way for the further legal regulation of Bitcoin in Russia.

Keywords: Bitcoin, cryptocurrency, legal regulation, world countries

DOI: 10.20472/IAC.2017.33.012

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