Legal Regulation of Cryptocurrencies and Blockchain Technologies in Germany and Italy

Abstract

In the paper, the author analyzes the legislation of Germany and Italy, which regulates financial technologies, and highlights the official positions of the state bodies of these countries regarding digitalization and its elements. The trends in the development of legislation in the digital sphere and its prospects are identified. In addition, the German and Italian scientific doctrine is being studied, which, as noted, does not offer a unified approach to financial technologies, in particular to a smart contract, but contains conflicting positions and points of view. Based on the study, it is concluded that there is a need for legislative regulation of financial technologies not only at the national level, but also at the international level. It is emphasized that legislation must find a compromise between public interests, economic needs and technological capabilities in order to make the most effective use of digital technologies in various spheres of public life.