Potential Applications of Digital Financial Assets

Viktor N. Ageyev () and Andrey V. Vlasov ()
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Viktor N. Ageyev: Cryptonomica Ltd, London WC1E 6HA, Great Britain
Andrey V. Vlasov: DeMontroyal LLC, Penza 440015, Russian Federation; Technical Committee for Standardization No.159 (Rosstandart), Moscow 123112, Russian Federation

Finansovyj žhurnal — Financial Journal, 2020, issue 6, 100-112

Abstract: The purpose of the article is to analyze the future state of legal issues connected to the use of digital assets after the adoption of the Federal Law “On digital financial assets, digital currency...” in the Russian Federation. Results: The main areas of application are highlighted for digital financial assets in the form of shares on blockchain and digital bills of exchange. The authors conclude that the new Law introduces significant restrictions, but at the same time opens up certain opportunities for business development in operations with digital financial assets. It is seen that the terminology used in the Law does not always correspond to the concepts and standards established in international legal and business practice. Practical significance: Recommendations made in this article may be useful in practice for the exchange operator of digital financial assets, the operator of the information system, and other subjects working in the innovative infrastructure when planning activities in the field of regulation of the Law and in dealing directly with digital financial assets. To harmonize activities with digital financial assets, the legislator and the regulator, represented by the Bank of Russia, can also use the practice-oriented approaches described by the authors.

Keywords: digital financial assets; digital currency; digital rights; information system; distributed ledger; blockchain; cryptocurrency; digital financial assets exchange operator; digital bills of exchange (search for similar items in EconPapers)
JEL-codes: E59 F31 G23 K19 K22 K33 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:200607:p:100-112

DOI: 10.31107/2075-1990-2020-6-100-112

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