The article examines the legal status of cryptocurrencies in Russia. The authors study the civil and criminal law aspects of this phenomenon. The legislation does not define the legal status of cryptocurrencies, while the theory of law and court practice have not yet worked out a unified approach to it. The authors present an overview of the existing positions regarding this issue and suggest that cryptocurrency should be regarded as other property. It is stated that whatever position is incorporated into law, in real life cryptocurrency is in global circulation and has a great potential. As for criminal law, the authors show that it is relatively independent from civil law when dealing with issues within its object. It is suggested that, for the purposes of criminal law, the available instruments should be adjusted to enable a prompt reaction to the crimes committed at the present moment. The authors analyze the possibility of recognizing cryptocurrencies as an object and instrument of committing crimes within the framework of current legislation. Using the examples different crimes, the authors demonstrate that cryptocurrency could act as an instrument of committing them. It is also stated that cryptocurrency could be recognized as an object of some crimes. To support their position, the authors present such arguments as crimes of terrorism, illegal trade in drugs and psychoactive substances, economic crimes and some others. They also discuss cryptocurrency as an object of theft. It is proven that there is a practical necessity to recognize cryptocurrency as an object of theft. Criticism of this approach by some researchers is also discussed. The authors, however, show that it is possible to solve this problem positively. They conclude that current Russian and foreign legislation should be amended and should define the legal status of cryptocurrencies; however, the goal of criminal law could and should be achieved even before these amendments are adopted.
Over the last few years, interest has emerged in blockchain, a decentralized ledger technology (DLT) created for use in cryptocurrencies, but with a great potential to be used in other application domains. One of them is supply chain management, tracking and tracing, which are key processes to the logistics industry, made difficult due to the lack of standards or trust between actors, miscommunication, fraud and bureaucratic delays, among other issues. In order to overcome some of these challenges, the solution presented in this dissertation proposes a blockchain system application created with Ethereum smart contracts technology. Its main purpose is to be used in supply chain and logistics for the tracking and tracing products, where the storage of important data is done and verified in a trustworthy, decentralized system. The technical solution presented here implements methods for tracking, certification, quality control and authentication, and integrates the communication of blockchain with IoT devices, which play an important role in monitoring products and automating these processes. This approach is validated by the development of a smart contract system and two browser-based applications to interact with it. The first application allows users to access and view their product’s tracking data, while the second bridges the communication between an Arduino UNO microcontroller collecting temperature readings and our smart contract system. The work presented here highlights the benefits of these technologies applied to logistics and validates the feasibility of this approach, ultimately giving insight into the capabilities, qualities, but also of the limitations a system like this can have.
O.S. Bolotaeva, Алла Степанова, Світлана Алексеева
This article examines the legal nature of cryptocurrency. Comprehensive analysis is conducted on the legal nature of digital currency; its correlation with the traditional money and e-money is determined. The author summarizes and systematizes the opinions of the scholars on these issues, as well as the existing legislation. The object of this research is the public relations arising process of functionality of crypto technologies and with regards to such the phenomenon of cryptocurrency in Russia. The subject of this research is the Constitution of the Russian Federation, normative legal acts that comprise the current legislation of the Russian Federation, as well as scientific works dedicated to the public relations in this sphere. The goal lies in examination and revelation of the financial legal essence of cryptocurrency, its legal nature and role among the objects of civil rights. The conclusion is made that the states will act towards the implementation of cryptocurrency into the economy. Digital currency is a promising trends of development and investment. The question of legal regulation and consolidation of the status of cryptocurrency remains important and relevant for not only Russia or any country, but the entire world community. The economy that is based on cryptocurrency has good chances to become a reality on the global scale.
The paper considers the opinions of domestic and foreign authors on the concept of cryptocurrency, the principles of its operation and the need to establish its legal status. The author’s definition of cryptocurrency is formulated and the thesis that cryptocurrency can be classified as «other property» is justified. The author analyzes the most common court decisions in criminal cases. Based on a study of foreign experience in the fight against illegal circulation of cryptocurrency, it was found that initially, before the emergence of mass demand for cryptocurrency all over the world, demand for them was observed in the criminal environment to pay for the supply of narcotic drugs and weapons, to finance terrorism and legalize (launder) income obtained in a criminal manner, in connection with which many people subsequently mistakenly assumed that transactions with cryptocurrencies are anonymous. Meanwhile, the cryptocurrency is far from being anonymous: each transaction carried out in a distributed network is permanently recorded in a public blockchain, which helps to solve crimes in this area. The adoption in the Russian Federation of a fundamental law containing the necessary terms and concepts regarding cryptocurrency activities and regulating the status of cryptocurrency in Russia will further develop measures for the criminal law protection of objects of encroachment that are currently not regulated in any way.
Developments in Blockchain, smart contract, and decentralized application (“dApps”) technology have enabled new types of software that can improve efficiency within law firms by increasing speed at which attorneys may draft and execute contracts. Smart contracts and dApps are self-executing software that reside on a blockchain. Custom smart contracts can be built in a modular manner in order to emulate contracts that are commonly generated and executed in law firms. Such contracts include those for the transfer of services, goods, and title. This article explores exactly how implementations of smart contracts for law firms may look.
П. С. Ложников, Alexey Е. Sulavko, Samal S. Zhumazhanova
The paper presents a study on the possibility of using distributed ledger technologies in managing various business processes based on electronic document management systems. In the finance and trade sphere, the type of distributed ledger technology, blockchain, is already presented as a real alternative to the existing infrastructure, however, the experience of developing and implementing such solutions in electronic document management systems is currently insufficient. The model of hybrid workflow proposed earlier by the authors of the article has a number of advantages over usual scheme of information exchange, and combines equal document protection in paper and digital form using cryptographic and biometric methods. The described distributed ledger-based hybrid workflow scheme also provides decentralized information storage, a fixed size of data blocks stored and transmitted by users, generation of cryptographic keys using biometric images of authorized users, and identification of subjects that performed various actions on document regardless of its type format. The authors also considered possible problems that might be encountered in the development and implementation of such an information interaction scheme.
Sergey Ivantsov, E. L. Sidorenko, Борис Спасенников, Yuri Berezkin · 5 authors
The authors have analyzed crimes connected with the use of virtual currency in the regional and international aspects. They introduce a new category of «cryptocrime» understood as the aggregate of publically dangerous acts, united by their common systemic characteristics, committed against or using the products of distributed registries (cryptocurrency, tokens and other forms of digital financial assets). They analyze each of the cryptocrime segments separately: illegal trade in psychoactive substances (narcotics, psychoactive substances, precursors), pornography and other prohibited content (including illegal services); laundering of criminal proceeds; theft of cryptocurrency and tokens. Using the scientific research methods (comparative, sociological, statistical analysis and extrapolation of data, building a trend line, etc.) the authors identify regularities in the dynamics of each type of cryptocrime as well as key factors facilitating them. The goal of the authors is to conduct a systemic examination of crimes committed against and using cryptocurrency and to determine the prospects of developing different segments of cryptocrime. To achieve this goal, they analyze qualitative and quantitative characteristics of illegal trade in narcotics and pornography, legalization of criminal proceeds and theft of digital assets. They name the anonymity of cryptocurrency as a factor facilitating illegal trade in drugs, while the growing scope of the legalization of criminal proceeds and theft is facilitated by the fact that cryptocurrency and tokens do not have a legal status as objects of civil law and objects of encroachments on property. The analysis allows the authors to conclude that without effective criminological measures the level of such crimes will continue to grow and may double by the end of 2019. According to the authors, the priority directions of international criminal policy in the sphere of cryptocrime prevention include determining cryptocurrencies’ legal status, licensing cryptocurrency trade (stock exchange services, exchange platforms, companies issuing tokens), setting international standards of counteracting the legalization of criminal proceeds and the financing of terrorism, creating a cryptocrime database.
This article argues that there are many questions that lawyers might ask, and conversations that they might have, about smart contracts; that some questions that are asked are more important than others; and that there are some questions that are not asked but which should be asked. First, it is argued that the question that preoccupies ‘coherentists’ (concerning the application of the law of contract to smart contracts, and the fit between smart contracts and the paradigmatic ‘fiat contracts’ that are recognised by the law of contract) is neither as puzzling nor as important as might be supposed. Secondly, it is argued that, if there are concerns about the acceptability of smart contracts, then the conversation that needs to be had is of a ‘regulatory-instrumentalist’ nature; in particular, if the question is one of public policy restrictions on the use of smart contracts, then the appropriate balance of interests needs to be made by an institution that has both the necessary mandate and the appropriate mind-set. Thirdly, it is argued that there are conversations that we currently do not have but which urgently need to be had. Blockchain is a potentially transformative technology and it is important to have more fundamental conversations about the kind of community that we want to be.
The Author examines various approaches to the definition of cryptocurrency, the issues of legislative regulation of cryptocurrency in Russia, proposes measures to counter crimes using cryptocurrency. Based on the study, the Author concludes that in order to regulate cryptocurrency transactions, as well as in order to create a uniform judicial practice in cases related to cryptocurrency, it is necessary to create a unified regulatory framework on the subject matter. The Author proposes to legislatively fix the definition of cryptocurrency, the conditions for its issuance, storage and execution of transactions with it, as well as the circle of persons authorized to carry out operations to create, exchange, etc. with cryptocurrency; conduct training of specialists in the field of cryptocurrency through training courses, lectures, seminars, conferences, etc., including abroad, as well as to ensure the exchange of experience between experts in the field of cryptocurrency; create a technical base in law enforcement to track cryptocurrency transactions; to ensure the formation of scientific schools in the field of cryptocurrency.
Blockchain seems to be everywhere these days. It is touted as the new foolproof technology, which can be used for everything from cryptocurrencies, through land registries to identity cards and health records. Enthusiasts have predicted that it will bring about deep change, ensuring data security and identity authentication, while doing away with traditional intermediaries. With blockchain we are told that it is the “new internet,” an application that will change the way we transact—strengthening commitments and ensuring seamless execution. At the same time, and at an alarming frequency, we hear about mass scale fraudulent schemes attacking cryptocurrency exchanges, resulting in the loss of many millions of dollars. Aside from fraud, other problems abound, resulting from misunderstandings between transacting parties, loss of passwords and privacy risks, to name a few. The gap between the promise of an infallible, dispute-less environment and the inevitable reality of having to deal with disputes in the blockchain setting lies at the heart of this paper. It is, we contend, impossible to enjoy high levels of human interaction without generating conflict. The inevitability of disputes is enhanced in a potentially lucrative environment of innovation and complexity, such as the blockchain. In such settings, unexpected developments are bound to occur, and expectations of interacting parties are likely to differ. Indeed, this was our experience with the internet of the 1990s as the e-commerce setting began to flourish. Initially, disputes were not the focus of attention and avenues of redress were difficult to come by. Over time it became clear, that for e-commerce to evolve there needed to be trust by users, and for trust to be sustained, e-commerce platforms needed to institutionalize avenues for addressing and preventing disputes. These processes have come to be known as “online dispute resolution” (or ODR). The lessons learned from the evolution of ODR are slowly penetrating the blockchain arena, as some entities are developing ODR tools and processes that are tailored to this environment. At the same time, for ODR to be adopted and used, some of the underlying assumptions driving the design and adoption of blockchain technology need to be relaxed, as they are in tension with the tenets of dispute systems design: recognizing the inevitability of conflict, understanding trust as a human construct, and assigning weight to individual needs alongside group ideology. This article establishes its main theses in the following order. Part II provides background on the history and evolution of the blockchain, highlighting its dominant applications and its principal features. We discuss governance and trust on blockchain, finding that despite a rhetoric of disintermediation and distribution of power, there are still some players that enjoy more power than others in the blockchain setting. Furthermore, we highlight the governance choices that can shape the extent to which power is concentrated, accountability is established, and avenues of redress are available. In Part III we briefly discuss the history of ODR and describe the leading ODR schemes that have emerged for the blockchain setting, illuminating similarities and distinctions among them. Despite growing interest in ODR for blockchain, the use of these initiatives has yet to spread. We explore the various barriers that stand in the way of ODR for blockchain gaining momentum in Part IV.
Technology is entering every part of our daily life leading to integration with all aspects of modern society. Social sciences research is not an exception of this role. The fourth revolution is intertwined in the process we do research. In this thesis, two models are designed based on blockchain and smart contract technology to solve the current problems in the existing traditional models. Those traditional models proved to have certain problems including being inflexible and having so many parties involved the network. The new model provided by this thesis is built upon blockchain and smart contract technology. Therefore, those networks have the benefits of being more flexible and having less parties involved in the network. the first case is a crowdfunding network, we have examined a traditional crowdfunding and developed a similar one based on blockchain and smart contracts technology to overcome the drawbacks of the existing network. the second case is a marriage contract network where we built a network similar to the traditional one but has the ability to remove the burden of wasting time and effort. Finally, both cases are compared based on the change in structure and functions of each party in the network. We have seen some changes in terms of structure between the two networks, however, the main change came in the functions of each party and the removal on unnecessary ones in the network which is expected to reduce the transaction cost.
Smart contracts are one of the most significant innovations in blockchain technology, enabling secure, transparent, and automated financial transactions without the need for intermediaries such as banks or clearinghouses. By embedding business rules into programmable code, smart contracts automatically execute agreements when predefined conditions are met, ensuring trust, immutability, and efficiency. Their adoption has expanded across banking, payments, trade finance, insurance, digital asset management, securities trading, and peer-to-peer lending. Smart contracts reduce manual intervention, lower transaction costs, accelerate settlement processes, and enhance transparency through decentralized validation mechanisms. This study examines the evolution of blockchain and smart contracts, reviews existing literature on contract automation and decentralized finance, and proposes a blockchain-based framework for financial transaction execution and settlement. Performance analysis demonstrates improvements in transaction speed, security, transparency, and cost efficiency compared to traditional financial systems. Despite challenges related to scalability, interoperability, privacy, and regulatory compliance, smart contracts show strong potential to transform financial ecosystems. Future advancements in blockchain scalability, secure programming, and regulatory standardization are expected to further strengthen their role in decentralized financial services and automated digital economies.
The synergy between computer programs and contract law has generated considerable attention among legal scholars. Smart contracts were first theoretically described in 1996 but they came to life in 2009, with the development of cryptocurrencies. Relying on the papers published in the European Journal of Private Law, the author presents the problems and dilemmas arising from contract digitalization. Irrespective of whether smart contracts are perceived as a revolutionary change in contract law or just as a new mode of concluding and executing a contract, the automatic performance of a contractual obligation and the immutability of smart contracts profoundly affect the existing contractual practices. Traditional concepts such as contract formation, interpretation and inability to perform have acquired new meanings and functions. Online protection of contracting parties, consumers and the public order requires a regulatory reform but it is also essential to adapt technology to the intrinsic nature of legal transactions in order to meet juristic requirements. A smart contract is comparable to a vending machine: it is immutable and blockchain-based. The paper focuses on the most important types of smart contracts, their characteristics and application. Smart contracts lack artificial intelligence and their legal effects have been challenged. However, smart contracts have a great potential in terms of facilitating legal transactions and reducing the risk of contractual breach.
Guillermo Martínez Cons, Alondra Guadalupe Mora Hernández
Technological advances have resulted in better strategic business planning and new and innovative ways of doing business. However, not all industries adapt immediately to these transformations that, even when they have innovated with the disruptive technologies that they introduce, they have also brought with them irreversible consequences in the way in which we relate. The fourth industrial revolution that we are witnessing today shows a panorama where scientific advances are increasingly challenging traditional jobs and careers to adapt and the social sciences are no exception. In the particular case of law, new challenges are presented in those that it is essential to frame in a normative all those conducts that derive in a human connection including those that are carried out by means until recently considered unconventional, such as digital platforms and electronic encryptions that nowadays are practiced in innumerable areas, one of the most relevant ones: economic transactions.