Legal Risks Of Using Digital Currency In Settlements And Payments

Abstract

The article deals with organizational and legal issues of the digital currency usage in settlements and payments, which are recognized as relevant all over the world. The article analyzes the identified gaps in the legislation that create problems for the business community in using of digital currencies. The authors paid special attention to the risks for business communities and identified and analyzed the risks for State as a whole. The analysis of risks, including criminal-legal: charge in money laundering, in illegal banking activity, and, in connection with not fixed system of the taxation at implementation of the specified operations, and in non-payment of taxes is carried out. Goals, objectives and opportunities in solving urgent problems of minimizing and levelling risks in the field of using digital currencies are considered. The solutions of emerging problems by introducing supervisory measures to reduce possible losses of the business community and State are proposed. It is proved that the risks of participants of these systems should be solved at the state level, since only the establishment of supervisory measures can reduce the possibility of losses from illegal actions of digital society participants. The authors note that the elimination of gaps in legislation and the introduction of supervisory measures by the state will create the possibility of legal use of digital currencies, which will certainly increase investment interest to the country. In turn, the organizational and legal improvement of the system of settlements and payments will contribute to the economic growth of our country.