LEGAL REGULATION ISSUES OF CRYPTOCURRENCY CIRCULATION IN UKRAINE

Vasyl Rossikhin, Mykhailo Burdin, Oleg Mykhalskyi

Abstract


The aim of the article is a comparative legal study of laws and regulations that determine the legal principles for the regulation of cryptocurrency circulation in some foreign countries and in Ukraine and, on this basis, a definition of ways to improve domestic legislation in this sphere. The subject of the study is an interrogation of legal regulation issues of cryptocurrency circulation in Ukraine. Methodology. The study is based on a legal comparison of the regulation of cryptocurrency circulation in Ukraine and in foreign countries. Based on a comparative legal study of certain provisions of Ukrainian legislation, the possibilities and limits of implementation of positive foreign experience in this sphere are determined. The results of the study revealed that to implement foreign experience for the legal regulation of cryptocurrency circulation, it is necessary to postpone the final transition to a floating rate regime by reinforcing state interference. Moreover, it is necessary to strengthen currency control not only for currency transactions with cryptocurrency but also for the activities of entities that determine the state policy on cryptocurrency regulation, as well as operate respectively using instruments provided for by the regulations of the current legislation. Practical implications. The positive experience of the formation of the foreign exchange market in other countries demonstrates that the gradual transition to cryptocurrency circulation is the beginning of the natural market rate, the balance of payments and gradual liberation of the national economy from the pressure of administrative and corruption restrictions. Relevance/originality. The legal analysis of the regulation of cryptocurrency circulation in Ukraine and the definition of problems is the basis for developing the most promising directions for the development of domestic legislation in this sphere.

Keywords


legal regulation, currency, cryptocurrency circulation

Full Text:

PDF

References


Hnatiuk M.D. (2007). Pravozastosuvannia ta yoho mistse v protsesi realizatsii prava [Law enforcement and its place in law realization] (Dissertation of PhD in specialty 12.00.01.), 211 p. (in Ukrainian)

Karaseva M.V. (Ed.) (2002). Finansovoe pravo Rossiiskoi Federatsii: Uchebnyk [Financial Law of the Russian Federation: A teaching manual]. M.: Yurist, 576 p. (in Russian)

Ashmarina E.M. (2011). Nekotorye osobennosti predmeta, metoda pravovogo regulirovaniia y otdelnykh norm sovremennogo finansovogo prava [Some features of the subject, the method of legal regulation and individual norms of modern financial law]. Gosudarstvo i pravo [State and Law], 3, 16-23. (in Russian)

Valevskyi O.L. (2001). Derzhavna polityka v Ukraini: metodolohiia analizu, stratehiia, mekhanizmy vprovadzhennia [State policy in Ukraine: methodology of analysis, strategy, implementation mechanisms] (Monography). K.: NISR, 242 p. (in Ukrainian)

Godme P.M. (1978). Finansovoe pravo [Financial Law]. M.: Progress, 428 p. (in Russian)

Fokin V.M. (2004). Nalogovoe regulirovanie: ucheb. posobie [Tax regulation: A teaching manual]. S.G. Pepeliaev (Ed.). Moscow: Statut, 297 p. (in Russian)

Kozyrin A.N. (1993). Nalogovoe pravo zarubezhnykh stran: voprosy teorii y praktiki [Tax law of foreign countries: issues of theory and practice]. M.: Manuscript, 112 p. (in Russian)

Zemlin A.I. (2005). Nalogovoe pravo: uchebnik [Tax law: A teaching manual]. M.: FORUM: INFRA-M, 304 p. (in Russian)

Zakharchenkov S.P. (2008). Finansy: UA [Finances: UA] (2nd ed.). Kh.: Factor, 92 p. (in Ukrainian)

Verkhovna Rada of Ukraine (1999). Pro podatkovu polityku v Ukraini ta zakhody shchodo udoskonalennia podatkovoho zakonodavstva [On tax policy in Ukraine and measures to improve tax legislation] (Resolution no. 641-–•IV of May 12, 1999). Vidomosti Verkhovnoi Rady Ukrainy [Bulletin of the Verkhovna Rada of Ukraine], 27, 222. (in Ukrainian)

Oparin V.M. (2002). Finansy: (Zagalna teoriia): navch. posib. [Finances: (General theory): A teaching manual] (2nd ed.). K.: KNEU, 240 p. (in Ukrainian)

Kurylev S.V. (1965). Sovershenstvovanie zakonodatelstva kak uslovie strogogo sobliudeniia printsipa sotsialisticheskoi zakonnosti [Improving legislation as a condition for strict compliance with the principle of socialist legality]. Izvestiia vysshikh uchebnykh zavedenii [Bulletin of Higher Educational Institutions], 4, 18. L.: Publishing House of Leningrad University. Pravovedenie [ Jurisprudence]. (in Russian)




DOI: http://dx.doi.org/10.30525/2256-0742/2018-4-3-254-258

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.