Problems and Prospects of Taxation and Regulation of the Turnover of Digital Financial Assets and Cryptocurrencies

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The current increase in interest in investing in digital assets on the part of both companies and individuals is noticeable not only to researchers but also to government agencies. However, a product of this type appears and conquers the market much faster than clear rules of the game for participants in this market are formed. Different countries often have diametrically opposed assessments of transactions with digital assets, and some jurisdictions generally recognize them as illegal. The new legislation of the Russian Federation recognizes digital financial assets and outlines their characteristics. However, even within the framework of one law, they are treated as both investment securities and property. Such an interpretation, the lack of recognition of the features of digital financial assets and cryptocurrencies compared with traditional instruments, and at the same time the increased interest of the state, including law enforcement agencies in this area, significantly increase the risks of conscientious investors and traders. As a result of identifying these circumstances, the author of this article highlights the difficulties that arise and will remain a long time before the national legislative bodies in the formation and development of instruments for regulating the sector of the economy in question.

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Tatiana S. Seliutina

Financial University under the Government of the Russian Federation

Author for correspondence.
ORCID iD: 0000-0001-8575-2479
SPIN-code: 1575-5004
Scopus Author ID: 57217012460

Candidate of Economic Sciences

Russian Federation, Moscow


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