Legal regulation of cryptocurrency in the Russian Federation

Abstract

The research is connected with tackling the issue of the expediency \nof giving the legal status to cryptocurrency as an alternative monetary \nsystem. Thorough research has been given to foreign experience and legal \nprecedents with use ofcomparative-legal and sociological methodology.As \na conclusion, using an alternative monetary system requires a balanced \napproach. When blockchain technology has become widely spread all over \nthe world, the participants of the virtual money turnover should deal with \neach other on the legal basis. It calls for the working outof basic concepts \nand categories with regard to the use of virtual monetary units