The market for Non-Fungible Tokens (NFT) has grown significantly during the past few years.The idea behind NFT (Non-Fungible Tokens) is derived from the Ethereum token standard, which seeks to distinguish between Tokens with various indications.These NFTs are the type of digital token that may be used to pinpoint a certain characteristic of a digital asset.These NFTs make advantage of cutting-edge blockchain technology.The Non-Fungible Tokens (NFTs), which are tokens with integrated digital assets and proof of work, are the result of extensive study in the blockchain industry.
Purpose This study aims to review the current EU approach to regulating crypto assets. It highlights the key points, opportunities and risks of the MiCA regulation, which is designed to provide a comprehensive regulatory framework for digital assets in the EU. Design/methodology/approach To do so, the authors extensively reviewed the literature and reports from several advisory and watchdog bodies and international organizations. Findings Although MiCA is an ambitious piece of legislation, there are still many unresolved issues and questions that the new regulation raises. Controversially several items have also been excluded from the MiCA regulations, including decentralized finance, non-fungible tokens unless they qualify under the existing cryptocurrency categories, as well as central bank digital currencies. Originality/value This study also addresses the Liechtenstein Token Act Regulation, which is considered to have served as a model for the EU MiCA Directive and the regulation of cryptocurrencies at the European level.
Digital technologies are increasingly penetrating various spheres of society, including the economic one. Blockchain the technology has existed for less than 10 years, however, it has successfully established itself in the Russian and world markets. Today, many organizations prefer to invest in specific systems based on blockchain technology. In the Russian Federation, blockchain technologies are also developing rapidly, which means they require clear state and legal regulation. The object of the study is the processes of state regulation and procedures for the use of blockchain technologies in the public financial sector. The subject is managerial, legal, organizational and economic relations, manifested in the development of blockchain technologies in the financial sector of the state. The published article reveals the essence and content of the blockchain platform in the development of a modern payment system, in particular, it substantiates the need for the use of blockchain technology by financial market participants as an innovative tool to accelerate the development of the economy, and considers the interest for the state, since the amount of taxes levied on the crypto industry is a significant share in the specific volume of taxes collected. The risks of using blockchain technologies in the financial system of the state are analyzed. Special attention is paid to the state regulation of the cryptocurrency industry. The main provisions of the road map for cryptocurrencies are considered; the main provisions of the Concept of regulating the circulation of digital currencies; the main provisions of the bill of the Ministry of Finance of the Russian Federation on the regulation of cryptocurrencies. The tools of state regulation of digital currency and the sphere of cryptocurrency are given.
Despite the enormous popularity of mining worldwide, which entirely objective reasons have caused, there remains a dissonance in States' approaches to its legal regulation. One of the reasons is that the legal regulation of blockchain technologies in different countries goes completely different ways. In fact, mining is a process of generating cryptocurrencies, as a result of which a new suitable block of transactions is added to the blockchain, and coins are issued. Therefore, to regulate such a process as mining, the legislator needs to create a holistic legal framework regulating the turnover of digital assets in the state.
The article looks into the concept and legal nature of smart contracts, as well as the issues that arise during the use of smart contracts in the field of digital assets. The technical and legal aspects of the concept of a smart contract are considered. Models of use of smart contracts are described. Scientific and legislative approaches to determining the legal nature of smart contracts are presented. The dual legal nature of a legal smart contract is analyzed: as a form of transaction and an object of copyright. Some issues in the field of protection of the rights of smart contract parties are considered. Based on the findings, temporary solutions in the field of using smart contracts are proposed.
The purpose of the article is to explore the impact of NFT on digital art and its significance for culture in general. The research methodology is based on the application of the dialectical method, which makes it possible to reveal the specifics of creating digital works of art in symbiosis with blockchain technologies. The scientific novelty of the obtained results lies in the clarification of the transformed functions of digital art under the influence of NFT: attention is paid to contemporary art, the study of digital trading platforms as a cultural phenomenon and the formation of a special space of communication between artists. Conclusions. The works of art that are created using NFTs are characterised, and a description of the new trend of modern crypto-art is given, which is digital art that is treated as physical art due to the ability to prove the ownership of the work. The possibilities and limitations of the development of the NFT market are indicated. Therefore, the NFT market can become the engine of modern art, as it creates a balance between art and technology. It has been determined that under the influence of modern technologies and NFT, culture is changing, including digital art as a direction in culture. Digital art in combination with blockchain technologies forms a specific cultural practice, is dependent on the development of technology and responds to the Internet not only as an environment, but also as a technologically dependent, socio-cultural, political, and economic ecosystem that broadcasts cultural codes.
 Key words: digital art, NFT market, NFT (non-fungible token), blockchain technology.
Non-fungible tokens (NFTs) are digital assets that provide unique ownership and authenticity of digital media such as art, music, and collectibles.NFT Marketplace is a blockchain-based platform that enables the creation, trading, and collecting of NFTs.The platform leverages blockchain technology to ensure the authenticity and ownership of NFTs, providing a secure and transparent way to transact digital assets.In this major project report, we explore the NFT Marketplace and its underlying blockchain technology.We provide an overview of the platform's features, including the ability to tokenize any digital asset, create customizable smart contracts, and sell NFTs with low fees and instant trades.We also discuss the advantages and disadvantages of the platform, including its ease of use, potential for fraud, and scalability challenges.The Non-Fungible Tokens (NFTs) have revolutionized the digital realm, redefining the concept of ownership and trade of unique digital assets.NFTs represent one-of-a-kind tokens, each verifiably and indelibly linked to a specific digital or physical asset, encompassing diverse forms of content, including video, audio, and images.These unique tokens have paved the way for creators to monetize their digital creations while providing collectors with an innovative means to invest, trade, and showcase their multimedia NFT collections.Central to the NFT ecosystem are NFT marketplaces, digital platforms designed to facilitate the creation, sale, and management of NFTs in various multimedia formats.These marketplaces have proliferated, providing creators with the means to mint NFTs, buyers with the opportunity to acquire them, and collectors with platforms to curate and trade their diverse NFT portfolios.We explore the multifaceted world of NFT marketplaces, focusing on their pivotal role in the creation, sale, and management of video, audio, and image NFTs.We analyze the economic implications, including pricing strategies and royalties, while addressing environmental sustainability concerns associated with NFTs.Challenges and opportunities encountered within this dynamic ecosystem are critically examined, including scalability, intellectual property rights, and the emergence of decentralized NFT marketplaces.Through in-depth case studies, we offer insights into the unique features and innovative approaches adopted by leading NFT marketplaces, shedding light on the transformative potential of this digital metaverse.This report serves as a valuable resource for those seeking a comprehensive understanding of NFT marketplaces catering to video, audio, and image NFTs, emphasizing the profound impact these tokens have on the creation, trade, and experience of digital content across various media formats.Navigating this dynamic digital frontier necessitates a nuanced perspective, and our survey aims to provide a holistic view of this rapidly evolving landscape.
Digital law is a polysemous phrase widely used in contemporary legal studies. From the point of view of analytical jurisprudence, its central meaning is defined by the “pervasive digital technologies” (artificial intelligence, distributed ledger systems, etc.). Doctrinal understanding of the problems of digital law requires the identification of a universal problem, as which the article proposes as a hypothesis the problem of agency in the broad sense of the word. The approach can be argued deductively and inductively. From the deductive point of view, agency is the central problem of the general filed of the philosophy of law and, as such, it should also be seen in specific fields of knowledge. From the inductive point of view, in the main specific problems of certain “pervasive digital technologies” there is a common feature of their connection with the problem of agency, which is demonstrated in the article on the basis of the technology of artificial intelligence. Confirmation of the hypothesis of subjectivity as the main problem of digital law (or an academic convention regarding such a hypothesis) will mean the existence of a general doctrinal principle to be taken into account in various forms of law-making and lawenforcement activities in cases where the formal-legal method cannot be applied due to objective circumstance.
In the last decade, use of cryptocurrencies in various fields has increased phenomenally. It offers many benefits to the users. It also has emerged as one of the major challenges for law enforcement agencies across the world. Research has been conducted to identify forensic artefacts for various cryptocurrencies used in different wallets and on different platforms. This paper aims to analyse and sum up the existing literature on forensic investigation of cryptocurrencies. This review paper makes mention of forensic investigation of six different cryptocurrencies, 30 different types of wallets and 49 different types of forensic artefacts. It also mentions 25 different tools used in forensic investigation. The paper briefs about seven different cryptocurrency visualisation and analysis tools. Finally, the paper highlights research gaps in this field.
Apr 14, 2023·CEUR Workshop Proceedings, Vol-3373: Proceedings of the 4th International Workshop on Intelligent Information Technologies & Systems of Information Security with CEUR-WS
Liliia Shumyliak, Ľuboš Cibák, С. Е. Остапов, Abdel-Badeeh M. Salem · 5 authors
Smart contracts built on blockchain technology are changing the way traditional industries and businesses operate. They allow the terms of an agreement to be automatically executed without the need for a middleman, leading to decreased administration costs, more efficient processes, and reduced risks. This article is focuses on the practical implementation of smart contracts. It discusses the benefits of using smart contracts for companies, including increased security and transparency, reduced transaction costs, and automation of contractual processes. The article also describes the key elements of a smart contract, provides a description of the implementation of smart contracts on the online market of digital goods, and presents the developed algorithm of the system operation.
Abdul Qawi Jalili, Anton Dziatkovskii, Platinum VC & Incubator Australia
This research paper aims to elucidate the intricate relationship between artificial intelligence (AI), state data security, and the volatile circumstances induced by sanctions and economic pressure. By undertaking a comprehensive literature review, the study not only offers a historical context of state data security mechanisms but also delves deeply into the advancements provided by AI-driven solutions. The work serves as a crucial reference for policymakers, cybersecurity experts, and academic researchers, laying a foundation for the nuanced understanding of AI’s capabilities and limitations within the realms of state data security and economic stressors. Employing an analytical framework, the paper systematically distills knowledge from a wide array of sources, including academic articles, technical reports, policy briefs, and international standards. This multidimensional analysis allows for a holistic understanding of the state-of-the-art AI technologies, their applicability in fortifying state data security, and the ethical labyrinth that states must navigate. Paper underscores a multitude of challenges and ethical considerations that are often overshadowed by the technological prowess of AI. These encompass issues such as data privacy infringement, potential for mass surveillance, and ethical quandaries around bias and discrimination. The paper also throws light on the pivotal factors of accountability and transparency, essential for maintaining public trust in AI-augmented state security mechanisms. The study raises awareness about AI-driven cyber threats, focusing on the paradox of employing AI to enhance security while also becoming susceptible to advanced AI-driven cyberattacks. Paper addresses the long-term sustainability and resilience of AI-enabled security measures, particularly in the context of evolving cyber threats and the inherent instability brought about by economic pressures and sanctions. The resilience of AI algorithms and systems under these specific conditions is scrutinized, offering a forward-looking perspective on the adaptability and robustness of AI technologies in safeguarding state data.
In recent years, cryptocurrencies, cryptoassets, electronic coins, tokens, non-fungible tokens, and other various terms for electronic assets have gained prodigious attention in the financial world. From the spike (and subsequent drop) in value of Bitcoin, to people spending millions of dollars on pixelated pictures of punks, the market for these assets has been extremely active despite its ups and downs. However, in addition to potential financial success via crypto markets, the development of crypto technology has allowed for a transformation of how individuals and institutions think of currency, financial security, and access to information Part I of this Comment explains what a cryptoasset is, as well as the current tax regime applicable to them. Part II defines like-kind exchanges and provides the historical context for the nonrecognition event. It also considers the IRS’s recent guidance pertaining to crypto like-kind exchanges. Part III puts forth this Comment’s main arguments for allowing crypto-for-crypto exchanges to qualify as like-kind exchanges.
Through this study, a small investigation related to cryptoactives or cryptocurrencies is reported, analyzing the legal treatment given to them in various jurisdictions, for which the application of a descriptive method that observes the treatment of these cryptocurrencies in countries where, due to the same social dynamics, it has been adapted to be able to observe them as a new way of carrying out transactions, once this small analysis has been carried out, the author's position in relation to cryptocurrencies is generated.
Введение: Современные технологии меняют экономические отношения в обществе и постепенно трансформируют мировую правовую и законодательную практику. Криптова-люты, существующие на базе технологии блокчейн, являются одним из самых перспективных направлений развития глобальной финансовой системы. Несмотря на широкое признание криптовалюты в качестве платежного средства крупными корпорациями и организациями, многие государства только начинают внедрять решения по регулированию их использования, в том числе с точки зрения налогообложения. Вместе с тем в настоящее время отсутствует единый подход к налогообложению криптовалютных транзакций в рамках единого экономи-ческого пространства, и возникает вопрос о том, необходим ли единый подход, учитывая при-меры отдельных государств и существующие политические реалии. В данной научной статье автором проведен сравнительно-правовой анализ существующих подходов к налогообложению криптовалюты в законодательстве отдельных зарубежных стран. Отражены актуальные нововведения, которые могут быть использованы для разработки и совер-шенствования отечественного регулятивного подхода. Материалы и методы: нормативную основу исследования образуют Конституция Российской Федерации, отечественные и зарубежные локальные нормативные акты, регламен-тирующие правовой статус цифровых валют и цифровых финансовых активов, а также фор-мулирующие основные подходы к налогообложению операций, осуществляемых с использо-ванием криптовалют. Методологической основой исследования послужил общий диалектиче-ский метод научного познания, носящий универсальный характер, также методы логической дедукции, индукции, познавательные методы и приемы наблюдения, сравнения, анализа, обобщения и описания. Результаты исследования: позволили выявить существующие в мировой практике тен-денции и подходы к правовому регулированию криптовалют, как объекта налогообложения, уточ-нить отдельные положения нормативных правовых актов Российской Федерации и зарубежных государств, относящиеся к обороту цифровых валют и цифровых финансовых активов. Выводы и заключения: положительный опыт законодательной регламентации нало-гообложения криптовалютных активов в зарубежных странах может быть использован для дальнейшего развития и совершенствования отечественного подхода. Introduction: Modern technology is changing economic relations in society and gradually transforming global legal and legislative practices. Cryptocurrencies based on blockchain technology are one of the most promising developments in the global financial system. Despite the widespread acceptance of cryptocurrencies as a means of payment by large corporations and organisations, many states are just beginning to implement solutions to regulate their use, including in terms of taxation. However, there is currently no uniform approach to the taxation of cryptocurrency transactions within a single economic space, and the question arises as to whether a uniform approach is necessary, given individual state examples and current political realities. In this research paper, the author conducted a comparative legal analysis of existing ap-proaches to the taxation of cryptocurrencies in the legislation of some foreign countries. The current innovations that can be used to develop and improve the domestic regulatory approach are reflected. Materials and Methods: The normative basis of the study is the Constitution of the Russian Federation, domestic and foreign local regulations governing the legal status of digital currencies and digital financial assets, as well as formulating the main approaches to the taxation of transactions carried out with the use of cryptocurrencies. The methodological basis of the study is the general dialectical method of scientific knowledge, which is universal in nature, as well as methods of logical deduction, induction, cognitive methods and techniques of observation, comparison, analysis, gener-alization and description. The Results of the Study: allowed to identify existing global trends and approaches to the legal regulation of cryptocurrencies as an object of taxation, to clarify certain provisions of regulatory legal acts of the Russian Federation and foreign countries relating to the circulation of digital curren-cies and digital financial assets. Findings and Conclusions: the positive experience of legislative regulation of taxation of cryptocurrency assets in foreign countries can be used for further development and improvement of the domestic approach.
Purpose: The article discusses conceptually new approaches to resist using cryptocurrencies and electronic payment means in unfair practices. As a result, it was found that all of them are aimed at revealing suspicious transactions and deanonymized individuals involved in illegal activities. The conclusion is substantiated that information and analytical systems constitute promising special tools for effective control of cryptocurrency market and blockchain networks. The research theoretical basis comprises scientific publications of the experts specialized in the issues of involvement, blockchain technology, distributed registries and cryptocurrencies at the investigation of crimes as well as foreign software tools, applied in the field of blockchain networks security. Methods: In the research, the author relies on deduction, generalization, synthesis and system analysis methods. Results: Determination of the capabilities of foreign and domestic software special tools in the field of virtual wallet providers and exchange operators (such as “crypto-currency brokers’ board”, etc.). Practical significance: The mechanism of functioning of special software tools for deanonymization of transactions in order to resist the use of cryptocurrencies and payment electronic means in unfair practices is presented.
Актуальность темы исследования. Несформированность правового регулирования, угрозы вовлечения в финансовые пирамиды не вполне типичны для традиционных финансовых инструментов. В связи с этим, а также учитывая масштабы инвестиций в криптовалюту, актуализируется задача разработки мер по защите инвесторов, поскольку существующие на финансовом рынке институты и инструменты защиты не действуют на рынке криптовалют из-за регуляторной неопределенности. Постановка проблемы. Универсальным инструментом защиты инвесторов на рынке криптовалют является финансовая грамотность. Однако исследования эффективности программ повышения финансовой грамотности выявили в среднем малый эффект их воздействия на финансовое поведение. В связи с этим возникает вопрос о принципах и способах организации программ повышения финансовой грамотности в области криптовалют. Цель исследования. Статья посвящена анализу возможностей использова-ния программ по повышению финансовой грамотности населения в целях защиты инвесторов на рынке криптовалют. Результаты. Выделены и раскрыты риски инвесторов в операциях с криптовалютой: рыночные, регуляторные и риски мошенничества; изложены подходы, объясняющие участие населения в криптовалютных пирамидах; определены правовые условия для российских инвесторов, вкладывающих средства в криптовалюту; проведен обзор результатов исследований, посвященных влиянию программ повышения финансовой грамотности на финансовое поведение населения. Ключевые выводы. Разработаны предложения по организации повышения финансовой грамотности в области криптовалют. Такие программы должны быть сфокусированы только на тематике операций с криптовалютой, а к участию в них следует привлекать заинтересованных и мотивированных граждан, выбор которых может быть осуществлен на основе составления социально-демографического портрета инвестора, вкладывающего средства в криптовалюту. Relevance of the research topic: unformed legal regulation, threats of involvement in financial pyramids are not quite typical for traditional financial instruments. In this regard, and given the scale of investments in cryptocurrency, the task of developing measures to protect investors is actualized, because the existing financial market institutions and protection tools do not work in the market of cryptocurrencies because of the regulatory uncertainty. Statement of the problem: Financial literacy is a universal tool to protect investors in the cryptocurrency market. However, studies of the effectiveness of financial literacy programs have revealed on average a small effect of their impact on financial behavior. This raises the question of the principles and ways of organizing financial literacy programs in the field of cryptocurrencies. The aim of the study: to analyze the possibilities of using financial literacy programs to protect investors in the market of cryptocurrencies. Results: the risks of investors in transactions with cryptocurrency are highlighted and disclosed: market, regulatory and fraud risks; approaches explaining the participation of the population in cryptocurrency pyramids are outlined; legal conditions for investors in cryptocurrency in the Russian market are determined; the review of the results of research on the impact of financial literacy programs on the financial behavior of the population is conducted. Key conclusions: proposals for the organization of financial literacy in the field of cryptocurrencies were developed. Such programs should be focused only on the topic of cryptocurrency transactions, and interested and motivated citizens should be involved in them, the choice of which can be carried out on the basis of the socio-demographic portrait of a cryptocurrency investor.
The paper discusses the issues of legal regulation of decentralized financial services (DeFi). The purpose of the work is to form a systematic understanding of the direction and scope in which they can be regulated based on the DeFi technological features and the nature of the relationships that arise between digital platforms and their users. The methodological basis of the study is determined by the range of tasks and is focused on the analysis of decentralized finance simultaneously in technological, socio-cultural, political and legal aspects. Structural functional, taxonomic, constructive, situational, innovative, targeted and program-targeted methods form the complexity of the study. Taken together, they allowed us to study DeFi in their systemic unity and formulate the following conclusion. Decentralized finance is an independent model of finance organization both in terms of a set of technical characteristics (the use of distributed registry technology, smart contract protocols, oracles, etc.) and in terms of the nature of relations between the parties (horizontal P2P communications). The identified features allow us to consider them as a separate object of legal regulation. At the same time, it is important to take into account that the matrix of DeFi regulation at the national and international levels should be built in accordance with their taxonomy and assume simultaneous balanced consideration of technological features and product affiliation of services. The legal regulation of decentralized finance in the Russian Federation should primarily be focused on minimizing the risks associated with user identification, as well as determining the legal status of decentralized autonomous societies (DAOs), organizing centralized examination of protocols and preventing cyber attacks.
The active development and distribution of cryptocurrencies around the world raises a natural question about the need to determine the procedure for legal regulation of taxation of transactions with cryptocurrencies. In this article, on the basis of the comparative legal method, the author examines the experience of legal regulation of cryptocurrencies and the procedure for their taxation in foreign countries. As part of the study, the experience of the United States of America, Singapore, New Zealand, Iran in terms of the legal regulation of cryptocurrencies and the procedure for their taxation is analyzed. It has been established that each of the above-mentioned states adheres to its own special approach in terms of regulation and taxation of cryptocurrencies. As a result of the study, three main models of legal regulation and taxation of cryptocurrencies in foreign jurisdictions were identified: the first approach is based on the recognition of cryptocurrencies as a type of convertible virtual currency that can be used as a means of payment. At the same time, in this approach, for tax purposes, cryptocurrencies are considered as property; under the second approach, cryptocurrencies are not recognized as legal tender. In the second approach, cryptocurrencies are treated as property for tax purposes; the third approach is based on a complete ban on the use of cryptocurrencies in the state, taxation of transactions with cryptocurrencies is not established.
Kriptovalute su aktualna tema među financijskim institucijama, ali i među pojedincima željnim lakog novca i zarade. Sve je više onih koji vjeruju u njihov potencijal, ne samo kao sredstva ulaganja već kao pokretača promjena i nove svjetske revolucije. Odnos između kriptovaluta i tradicionalnih valuta područje je koje akademska zajednica još uvijek treba istražiti, ali svakako postoje značajne razlike između ta dva sustava. Inovativne tehnologije kriptovaluta omogućile su pojedincima diljem svijeta pohranjivanje i prijenos novčanih jedinica bez potrebe za središnjim autoritetom. Kriptovalute mogu donijeti korisne promjene u svijet financija i mnoge druge sektore, a na nama je da odlučimo kako ćemo postupiti prema njima, odnosno hoćemo li pružiti priliku inovaciji ili se nastaviti oslanjati na parazitske posrednike trećih strana.
This chapter highlights the primary legal concerns that apply to all jurisdictions grappling with cryptocurrencies, specifically those concerns which pertain to various types of criminality, including hacks and thefts, frauds and scams, money laundering and tax evasion, and terrorist financing and rogue actors. It considers the differing legal treatments of cryptocurrencies along a spectrum (most-to-least tolerant) and assign various jurisdictions along that spectrum accordingly. The chapter discusses international efforts to harmonize cryptocurrency regulation and oversight and offers some prognostications about the future of cryptocurrency legality. Money laundering is a very serious and systemic concern regarding cryptocurrency, as it can be easily used to engage in transactions that would sidestep the traditional financial system with comparative ease. For this reason, it is frequently described as “a convenient tool for money laundering”. Countries have responded to the emergence of cryptocurrency in a variety of ways, from extreme positivity to outright hostility.
Non-fungible token(NFT) is the extension of digital token transactions that emerged in 2021. As NFT differs from fungible tokens, it is the presentation of the digital and unique transactions of tokens. Each property can be traded freely with the customized value that is set by the NFT creator (Wang, Li, Wang, & Chen, 2021). NFT transaction is also a transparent process (Wang, Li, Wang, & Chen, 2021). While the NFT transaction has been finished, there is a smart contract that is being generated and signed automatically. Due to the existing transparent framework and the decentralized system, the open data on NFT transactions and predictions are mushrooming ever since 2021. This research intends to examine the open data platform for NFT works and analyse the potential social impacts on the understanding of NFT. The research firstly conducted an overview explanation of the NFT concepts and how the transparent framework allows more data to be retrieved and tracked online to be accessed by the general public. Furthermore, the research uses the Walkthrough method to thoroughly investigate the step-by-step process of the open data platform in NFT. It is the digital observation of the NFT user experience from registration, profile building, daily interactions, and any other changes of status (Light, Burgess, & Duguay, 2018). To complement the observation data, I explore NFT from various social perspectives, including how the open data has access to the encrypted information, how the data has been displayed, and how it effectively impacts the transaction of NFT. As NFT is a relatively underdeveloped research topic, this will be the first research on the interdisciplinary research of data science, NFT technologies, and social understandings.
Georgia is top of the list due to its tax restrictions on cryptocurrency mining activities. Furthermore, the overall costs of running a mining operation are substantially lower in Georgia. as Georgia takes place as the third biggest mining country in the world. The goal of this paper is to fill a deficiency in the existing literature that examines the present level of cryptocurrency acceptance, and adoption-influencing factors, offering an in-depth interpretation of these aspects and outlining certain problems associated with cryptocurrency adoption in Georgia. 
 This study employs a quantitative approach, a total of 175 people did take part in the poll (out of 200 questionnaire respondents). The survey was held in a hybrid manner, with the questionnaire being distributed in April and May 2022 in various cryptocurrency-selling locations throughout Tbilisi, the capital of Georgia. A structural equation model was applied in the paper (SEM). The findings of the study confirm that the measurement items and constructs in the proposed model are reliable and valid. The result of the study found that there is a positive relationship between future reward, innovativeness, knowledge, and cryptocurrency adoption. Furthermore, it was found that innovativeness is significant as a mediator between future rewards and cryptocurrency adoption.
 
The author discusses the features of the legal regulation of taxation of transactions of individuals with digital rights in the Russian Federation. As a result of the study, the author identified a gap in the legal regulation of taxation of digital rights in the Russian Federation, when determining the system of tax benefits for transactions with digital rights. Public relations arising in connection with the turnover of digital rights are regulated by the Civil Code of the Russian Federation, while neither legislation nor law enforcement practice has been defined, the specifics of taxation of income of individuals on transactions with digital rights. In this connection, it is necessary to highlight the features of the legal regulation of taxation of income of individuals on transactions with digital rights and determine whether these features are applicable to the legal regulation of taxation of income of individuals on transactions with digital rights in the Russian Federation. The problem is that in the legislation of the Russian Federation there is no legal regulation of taxation of income of individuals on transactions with digital rights. The goal go the research is to investigate the experience the foreign legislation and regulatory legal regulation of the Russian Federation and to identify the problems of legal regulation of taxation of income of individuals on transactions of individuals with digital rights. Scientific novelty of the research lies in fact that previously, no research has been conducted on the application of tax benefits in the legal regulation of taxation of personal income on transactions with digital rights.