With the rapid development of new technologies taking place during the 4th Industrial Revolution, new types of disputes of significant specificity have gradually begun to emerge. Among such cases a special category of cases has been formed by disputes arising from smart contracts based on block chain technology. There are two possible ways to resolve such disputes. Under the first approach, they are subject to consideration by traditional arbitration institutions, guided by the usual rules and guidelines (blockchain arbitration). The second approach involves the need to create innovative applications based on blockchain technology and designed to resolve disputes arising in a digital decentralized environment ( blockchain arbitration). Such applications, in turn, are divided into two groups. The first group consists of projects involving the creation of a special arbitration combining the advantages of international commercial arbitration and blockchain technology; the second group includes projects involving the establishment of a decentralized quasi-judicial system for dispute resolution. The paper attempts to analyze the most interesting projects related to each of the listed groups and assess the prospects of their development. Based on the results of the analysis, the author comes to the conclusion that the implementation of such projects will lead to the emergence of many issues (among which the problem of choice of applicable law, determination of place of arbitration, arbitrability, as well as the possibility of recognition and enforcement of awards made by such arbitral tribunal). Under the influence of new technologies, international commercial arbitration is gaining a new direction of its development. In the future, the development of new technologies will require not only rationalization of existing dispute resolution mechanisms, but also a fundamental rethinking.
Crypto currency, bitcoins and virtual currencies are topics the scientific community has been discussing for years. The Bank of the Russia has repeatedly warned about high risks of investments in crypto currencies and risks in its turnover. Populations of many countries continue to lose their investments in virtual currencies, which are positioned by their developers as tamper-proof. However, there is still a vacuum in the legal regulation of crypto currencies and the legitimacy of their use as legal payment. The article presents the author’s view on a number of issues arisen in the process of crypto currency, bitcoin, digital and virtual currency use and presents ways to solve them in the context of Russian and world experience.
The object of this research is the international standards AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) for the sphere of virtual assets (cryptocurrencies) developed by FATF (Financial Action Task Force), and possibilities of their effective implementation into the national legislation. The author examines new revision of the Recommendation 15 and Glossary (of October 2018), explanatory note to new revision of the Recommendation 15, and implementation guidance of the risk-oriented approach towards virtual assets and service providers in the sphere of virtual assets (of June 2019); considers provisions of the Federal Law of July 31, 2020 No.259-FZ “On Digital Financial Assets, Digital Currency, and Amendments to Certain Legislative Acts of the Russian Federation” becoming effective in January 2021. Based on the analysis of most recent international and Russian acts on the questions of legal regulation of cryptocurrencies turnover, the need is underlined for introducing amendments to the Russian legislation with regards to exercising financial monitoring of transactions with cryptocurrencies in Russia. The author indicates certain fundamental aspects related to collection and validation of personally identifying information on the holders of cryptocurrency and tracing of their transactions.
Marina Afanasievna Lapina, Ekaterina Alexandrovna Pogrebinskaya, В. Н. Назаров, Petr Katys
The article is devoted to studying the current state of legal regulation of cryptocurrency circulation. Cryptocurrency has appeared relatively recently and immediately gained popularity among a certain part of users of modern financial services, as well as a misunderstanding or even complete rejection by others. In different states, the attitude to cryptocurrency also varies. Some countries, while allowing for the circulation of cryptocurrency, are developing its legal regulation, others have failed to find a better solution than to impose restrictions or even a complete ban.
Open access
Security, Politics, and Digital Transformation
Digital Transformation in Law
Digitalization and Economic Development in Agriculture
The cutting-edge technologies are the main drivers of modern innovations. At the same time, they also bring new risks to security and privacy. In addition to the legal regulation of security measures in the digital world, it is now necessary to incorporate cyber security knowledge into curricula. Advanced technologies are introducing new security risks. The dynamic change in cyber security affects business risk management and is driven by the continuous improvement of sophisticated technology by malicious actors.The main focus of the study is to justify the need to integrate cyber security into curricula that are related to cutting-edge technologies. The emphasis is on the need for proactive steps in education to prepare learners to adequately address the cybersecurity issues that come with IoT (Internet of Things), AI (Artificial Intelligence), DLT (Distributed Ledger Technology), VR (Virtual Reality and Augmented Reality) and containers.The article provides an overview of the regulatory framework and security incidents that inevitably lead to conclusions about the need to introduce the problem area of cybersecurity in the curriculum for IoT, AI, DLT, VR and containers. Updating the curriculum with cyber security components will lead to the full realization of specialists in the respective field. The cyber security competences have been analyzed for the current state of the problem, taking into account both the regulatory requirements of Europe and some national ones.The analyzes, conclusions and recommendations of this article are aimed at reducing the deficits in cybersecurity training in problem areas that have progressed without compliance with standards or minimum requirements for protection against measured impacts. This is a step towards applying the EU's common competences for cybersecurity skills in the SME sector on the path to simultaneously promoting technical and organizational expertise and corporate culture to comply with emerging regulations, directives and laws related to cybersecurity and privacy.This article is aligned with the efforts of the EU Cybersecurity Competencies Team responding for the skills shortage on the labor market.In addition to the "shift left" in the software production process (SDLC), it also justifies the paradigm for the EARLY INCORPORATING shift in the curriculum.
The article gives a brief analysis of the place of a cryptocurrency in the system of objects of civil law rights. According to the results of the study, the authors conclude that it is incorrect to equate legal regimes of the cryptocurrency with the legal regime of virtual objects. The authors consider it promising to regulate legal features of the distributed ledger and register objects of civil law rights in the distributed ledger. A cryptocurrency is a means of payment that has no independent value. Thus, the mechanism of performance of obligations needs special elaboration. It is also noted that in the legal regulation of any social relations an essential role is assigned to the mechanisms and guarantees of restoration of violated rights and legitimate interests. To this end, the cryptocurrency regulation is inextricably linked with the institution of civil liability. The cryptocurrency combines the features of many civil law rights, but does not fully correspond to any of them. The assignment of the cryptocurrency to other property is possible within the framework of the current legislation without creating new objects of civil law rights, which can lead to conflicts and disputes concerning their legal regime.
Anatolii Georgievich Korchagin, Andrei Aleksandrovich Yakovenko
  This article explores the phenomenon of cryptocurrency and technology it is based upon. The authors describe the mechanism of its functionality along with the occurred problems of legal nature, which being interrelated make the phenomenon in question appealing within the criminal environment. Global digitalization sets new requirements, namely the combinations of legal and technical regulators meant to achieving adequate legal regulation in the digital era. The subject of this research is the Russian and foreign legal doctrine that reveals the essence of the indicated technology and mechanisms for protecting social relations in the context of utilization of this technology. The research methodology consists of the following methods: statistical, dogmatic, comparative-legal, synergetic, logical, functional, and systemic. The scientific novelty is substantiated by the need for convergence of the legal and information systems and demonstration of such convergence during the period of rapid digitalization in all social spheres. The authors draw a conclusion that the problem carries a comprehensive character, and the longer it takes to resolve the issues of legal regulation, the higher are the risks of using cryptocurrency.  
One of the major directions in IT development is the emergence of Blockchain technology, which is rooted in the concept of distributive ledger technology (DLT). Blockchain is based on the use of a cryptographically protected chain of transaction blocks containing information. Blockchain technology becomes relevant in economic exchange as it lowers costs and adds efficiency to transactions` implementation. The key quality of blockchain is that it ensures the authenticity of digital data; trust in the traditional legal relationship has been replaced by digital verification of data in blocks. Verification of digital data by tracing transaction blocks is identical to a hard copy ledger: blocks function as bookkeeping inputs of a digital manager. The blocks are functionally equal to sheets of paper, used by all participants to enter their transaction and sign it. In doing so, they grant authorization to all previous paper transactions. The foregoing process continues as long as there is space on paper available. When the sheet is filled, it is secured with a stamp and new transactions are recorded on a new sheet of paper which, once filled, is linked to the previous paper (secured with the signature and a stamp on the margin between the first and second paper). A functionally identical activity occurs in the framework of blockchain technology. As the important phenomenon, blockchain raises legal issues that have to be addressed in the process of its implementation. Currently, the legal regulation of blockchain is at the stage of developing customs, which are likely to be translated into standards relevant to this technology. Standards are a discretionary regulatory framework in the form of private law regulation; in essence, it is a software-driven expression of traditional contracts, translated into programming languages. The relevant doctrine labels this process as "legal engineering". An example of this development is the legal regime of "Smart Contracts". These contracts constitute the next stage in the development of blockchain deployment; they are based on a cryptographic process enabling the execution of contracts once the preconditions contained in the program code are satisfied. The emerging legal regulation of blockchain will not rule out the existing legal norms; rather, they will operate simultaneously and complementarily.
Губарева, А. В., Коваленко, К. Е., Коваленко, Н. Е., Gubareva, A. V. · 6 authors
Губарева Анна Викторовна – кандидат юридических наук, доцент, Уральский государственный юридический университет, г. Екатеринбург. E-mail: ashipova@mail.ru. Коваленко Ксения Евгеньевна – кандидат юридических наук, доцент, Алтайский государственный университет, г. Барнаул. E-mail: ashipova@mail.ru. Коваленко Наталья Евгеньевна – соискатель, Алтайский государственный университет, г. Барнаул. E-mail: ashipova@mail.ru.
The article is devoted to the analysis of the legal nature of the cryptocurrency as an object of financial and legal regulation from the point of view of Russian legislation. It includes the analysis of the qualification of the cryptocurrency described as money, electronic money, foreign currency, other property, as well as the possibility of assigning crypto-loans to obligations rights. The conclusion is made about the possibility of treating cryptocurrency as private money on a par with national currencies.
There is broad consensus among international regulators and practitioners that Crypto Assets as an emerging new asset class and related Distributed Ledger/Blockchain Technology (DLT) will have an immense potential for innovation end efficiency gains in the financial sector. Crypto Assets and tokenisation might revolutionise the financial markets in similar ways as securitisation in the past. Considering that, in view of the finance industry forging ahead, the EU Commission has taken up the subject by the initiation of formal proceedings, time has come to attempt an overarching analysis of the current state. So far it seems that academics and practitioners have focused primarily on the regulatory aspects of Crypto Assets. Nevertheless, the outcome of the private law analysis might well have a major impact on the stance of international regulators towards the subject matter, which, apart from AML and fraud combating, is driven by considerations in respect of financial stability and investors’ protection. There is no doubt that significant risks and legal uncertainties are involved in both private and regulatory law. The overarching question is whether the national and international legal systems - private and public law - are prepared to ensure legal certainty and appropriate protection of market participants as well as of the public good without hindering innovation. The key questions to be answered are as follows: Can a Crypto Asset be classified as property? What is the legal status of the Distributed Ledger/Blockchain: is it a register or at least a means of documentary evidence? Which are the legal formalities for the transfer of Crypto Assets? Are they backed by legal recognition? Until to-date, the results differ between individual jurisdictions. This is why individual national legislators have taken up the subject with Liechtenstein and Switzerland leading the way. The EU itself and Member Countries will have to master these challenges to position themselves as an attractive location through legal certainty, efficient regulation and good reputation in the field. The EU Commission has initiated formal proceedings - related proposals are expected to be published in Q 3 2020.
Legal aspects of cryptocurrencies Abstract The aim of this work is to analyse the legal aspects of cryptocurrencies, especially focusing on their position within the legal system, legal binding of so-called smart contracts and their proper taxation in the field of personal income, legal entities and value added tax. The main content of the work is divided into six chapters. These six chapters are preceded by an introduction, which contains the reasons for choosing the topic, the chosen goal and the individual sub-goals and methods by which these goals are achieved. The last part is followed by a conclusion, which contains a summary of individual findings and recommendations for further research. The first chapter briefly deals with the history of cryptocurrencies, respectively describes the origin and life of two important precursors of the cryptocurrency bitcoin, E-Cash and E-Gold. The second chapter contains an analysis of the concept of cryptocurrency in relation to concepts such as currency, money, electronic money, digital and virtual currency. The content also includes the position of cryptocurrencies in the Czech legal system, an analysis of the fulfilment of the defining features of a security and the effects of their inclusion in the issue of combating the legalization of proceeds from crime. The...
The principle of functioning of smart contracts based on blockchain technologies for financing the implementation of systems for managing the technical condition of machines and equipment of industrial enterprises is considered.