Excessive Regulation Research Articles

The Black Box of Single-Family Zoning Reform

America faces a staggering housing affordability crisis. The consequences of the crisis include reduced economic productivity, suppressed labor mobility, greater social inequity, and increased homelessness. A scholarly consensus blames excessive land-use regulation for these problems and advocates now call for deregulation. Several jurisdictions have recently elected to allow middle housing—small, multi-family developments—in areas previously zoned for single-family detached housing. The results of these reforms, however, have been disappointing. This Article examines why they have fallen short and how to do better. This Article identifies an analytical disconnect between the deregulatory consensus and actual single-family zoning reforms adopted to date. Given this disconnect and the limited success of single-family zoning reforms thus far, it is unclear why such reforms continue to be adopted. Moreover, these reforms cannot achieve their promised ends. Interviews of middle housing builders in reform jurisdictions reveal legal and structural barriers that prevent market participants from responding to the housing crisis with scale and urgency. This Article proposes several regulatory alternatives that offer a greater probability of success in achieving the consensus’s goals: (1) modestly expanding multi-family zones to allow redevelopment and densification of underutilized non-residential properties; (2) providing affordable-housing density bonuses; (3) streamlining land-use procedures and eliminating administrative delay to reduce uncertainty in permitting processes; and (4) reevaluating financing mechanisms for new housing development. Taken together, these policies are necessary complements to single-family zoning reforms for addressing undersupply of market- and below-market-rate housing.

Financial inclusion, ICT development and economic growth in WAEMU countries: evidence of governance

PurposeThe main objective of this paper is to examine how short- and long-term dynamics can be promoted through economic growth policies, financial inclusion initiatives, institutions and ICT infrastructure development. The study focuses on West African Economic and Monetary Union (WAEMU) member countries over for the period 2000–2020 and the empirical evidence is based on the autoregressive distributed lag (ARDL) method. Our empirical results show that the synthetic index variables of financial inclusion, ICT infrastructure development and individual or composite governance institutions indicators are positively and significantly interrelated in both the short and long runs. A dynamic combination of variables is essential for WAEMU countries to achieve long-term economic development. Policy implications are discussed.Design/methodology/approachConsistent with our goal of testing the dynamics of financial inclusion, governance and ICT on economic growth, we will estimate our equations using the ARDL panel method. ARDL models or autoregressive models with staggered or distributed delays are dynamic models. The particularity of these models is that they take into account temporal dynamics (i.e. expectations, adjustment delays and inter alia), so we adopted a lagged autoregressive model (ARDL). The popularity of the ARDL approach also stems from the fact that the cointegration of nonstationary variables is equivalent to an error correction (EC) process.FindingsThe empirical results simultaneously depict strong endogenous associations between these variables in the short and long run. The short-run analysis indicates that economic growth, financial inclusion, institutional quality and ICT infrastructure development are strongly interdependent. These union states, in their economic growth policies, encourage the financial inclusion (access and penetration of bank branches) of disadvantaged communities. However, efficient institutional policies reinforce this sustainable growth. The efficient use of telecommunications infrastructure requires the regulation of informal employment in WAEMU countries for the better deployment of efficient, secure and cost-effective digital financial payment systems (fintech).Research limitations/implicationsThe findings in this study evidently leave space for future research, especially as it concerns considering how composite governance can be employed as a moderating indicator for financial inclusion. In conclusion, there is an interdependence between financial inclusion, ICT, institutions and economic growth. An effective combination of these elements can create an ecosystem conducive to economic development by promoting access to financial services, harnessing the benefits of ICT and building robust institutions. However, challenges can also arise, such as the need for appropriate regulations and security guarantees for electronic transactions.Practical implicationsGovernments should strengthen financial inclusion and promote policies aimed at improving access to financial services, such as microcredits, mobile banking and initiatives for the unbanked. Financial education is crucial for enhancing financial inclusion. Educational programs that teach citizens how to use financial services can increase participation and stimulate economic growth. Moreover, policies should focus on improving digital infrastructure, such as broadband networks and data centers, to facilitate access to the internet and other technologies and to promote innovation and startups. Governments should strive to create a balanced regulatory framework that encourages investment and innovation while avoiding excessive regulation that could hinder growth. Implementing targeted regulatory reforms to improve efficiency and transparency can enhance investor confidence and support a more dynamic economic environment.Originality/valueThis work constitutes a considerable contribution to the literature on finance, institutions and growth in WAEMU countries and in terms of methodology. The findings in this study evidently leave space for future research, especially as it concerns considering how composite governance can be employed as a moderating indicator for financial inclusion. In conclusion, there is an interdependence between financial inclusion, ICT, institutions and economic growth. An effective combination of these elements can create an ecosystem conducive to economic development by promoting access to financial services, harnessing the benefits of ICT and building robust institutions.

A mediation analysis of the relationship between land use regulation stringency and employment dynamics

ABSTRACT The paper examines the effects of stringent land use regulations, measured using the Wharton Residential Land Use Regulatory Index (WRLURI), on employment growth during the period 2010–2020 in the Retail, Professional, and Information sectors across 878 local jurisdictions in the United States. All the local jurisdictions exist in both (2006 and 2018) waves of the WRLURI surveys and hence constitute unique panel data. We apply a mediation analytical framework to decompose the direct and indirect effects of land use regulation stringency on sectoral employment growth and specialization. Our analysis suggests a fully mediated pattern in the relationship between excessive land use regulations and employment growth, with housing cost burden as the mediator. Specifically, a one standard deviation increase in the WRLURI index is associated with an approximate increase of 0.8 percentage point in the proportion of cost burdened renters. Relatedly, the higher prevalence of cost-burdened renters has moderate adverse effects on employment growth in two sectors. A 1 percentage point increase in the proportion of cost burdened renters is associated with 0.04 and 0.017 percentage point decreases in the Professional and Information sectors, respectively.

From public policy towards the green energy transition: Do economic freedom, economic globalization, environmental policy stringency, and material productivity matter?

The green energy transition is essential to addressing climate change and ensuring sustainable development, yet it faces numerous challenges related to securing financing, implementing effective public policies, and improving material efficiency. This study aims to elucidate the complex interaction of these factors by investigating the impact of economic freedom, economic globalization, environmental policy stringency, and material productivity on the green energy transition in OECD countries for the period 1995-2020. Despite widespread theoretical discussion, the effects of these factors, which act as drivers for each other, have been neglected. The study contributes to Sustainable Development Goals 7, 8, 9, and 12 by focusing on affordable and clean energy, decent work and economic growth, industry innovation, and responsible consumption and production. Using the Westerlund and Edgerton cointegration approach, the study finds a long-run relationship between these variables. The long-run estimators, RCCE and AMG, are used to assess the magnitude of this relationship. The results show that increased economic freedom positively affects the green energy transition in the Republic of Korea. In contrast, economic globalization is negatively impacting the transition in Spain, Italy, and Portugal. Stricter environmental policies are encouraging green energy adoption in Slovenia and Korea. Material productivity is supporting the green energy transition in both the OECD panel and in individual countries such as the Czech Republic, Spain, and Hungary. The study recommends policy measures to encourage green energy adoption, including establishing industrial standards for recycling, increasing material productivity, and strengthening renewable energy-based production processes. While environmental policies have proven effective in some countries, the overall framework across OECD countries is inadequate. Policymakers are called upon to critically review and improve current policies by balancing the implementation of disincentives that increase costs for polluting activities with subsidies that reduce the financial burden of the green energy transition. The study emphasizes the need for a balanced approach to regulation. Excessive regulation or excessively pro-market policies can hinder the green energy transition. It is therefore important for policymakers to find a middle ground that promotes environmental sustainability while promoting economic freedom.

Emotional Intelligence Profiles and Cyber-Victimization in Secondary School Students: A Multilevel Analysis

The research examined how different profiles of emotional intelligence (attention, clarity, and emotional regulation) act as protective or risk factors against cyber-victimization, taking into account individual and behavioral variables such as gender, sexual orientation, self-esteem, social anxiety, Internet risk, and parental control among high school students (11–18 years). A simulated sample was used, which was derived from an experimental sample of 1908 subjects (50.7% girls). Statistical equivalence was ensured between the two samples, and a multilevel analysis was conducted using the emotional intelligence profiles as the grouping variable. The results showed that the variability in emotional intelligence profiles predicted 96.7% of the variability of cyber-victimization. Factors that increase this likelihood include excessive interpersonal attention and low emotional regulation, higher social anxiety, offline victimization, older age, high parental supervision, and low self-esteem. In addition, being male and heterosexual is associated with a lower risk of cyber-victimization than being female and non-heterosexual. In general, it is suggested that protective measures against cyber-victimization should warn about the risk of Internet use, avoid paternalistic behavior by adults, and reduce rumination or excessive attention to the opinions of others.

Аналитическая оценка правового регулирования реализации профессиональных услуг средними медицинскими работниками в качестве дополнительного дохода.

In the Russian Federation, the practice of providing medical services at home by specialists with secondary medical education has developed. Despite the fact that there are currently no direct restrictions on entrepreneurial activity in the Russian Federation, the existing legal framework for the sale of professional services by secondary medical workers contains a number of lacunae that contribute to the development of the shadow economy of healthcare. According to expert estimates, the revenues of the shadow market of medical services in 2023 amounted to 215 billion in real terms. At the same time, services provided to patients outside the framework of the legislation of the Russian Federation may be of poor quality due to non-compliance by performers with standards of medical care, failure to comply with sanitary and epidemiological norms and rules, and lack of control by inspection bodies. The purpose of the study is to use international experience to conduct an analytical assessment of the legal regulation of the sale of professional services by secondary medical professionals as an additional income. Methods and materials. The study analyzed the legislation of six countries: the Russian Federation, the Republic of Kazakhstan, the Republic of Uzbekistan, the Federal Republic of Germany, the French Republic and the Kingdom of Belgium on the provision of paid medical services by specialists with secondary medical education. Results. One of the reasons for the growth of the shadow sector, it seems possible to highlight the problem of excessive legal regulation of the commercial activities of nursing staff. In the Russian Federation, the provision of «nursing» medical services refers to licensed activities. At the same time, the development of current legislation on «self-employment» with the addition of «services of secondary medical personnel» to the list of activities will allow legalizing part of the shadow sector of medical services. According to the above comparative legal analysis, nurses in Uzbekistan, Germany, France and Belgium can work in the statuses of «selfemployed», «Freiberufler», «Entreprise individuelle» and «self-employed», respectively. Each of the statuses allows specialists with secondary professional medical education to provide their services within the legal framework, conclude contracts with patients and maintain medical records without excessive licensing rules, which are presented in the Russian Federation or the Republic of Kazakhstan. Conclusion. Thus, both according to expert estimates and according to the results of a comparative legal study, in order to reduce the size of the shadow sector of medical services, in particular, to legalize the provision of nursing care «at home», it seems rational to add the services of specialists with secondary medical education to the list of activities provided by the self-employed in accordance with Federal Law «On conducting an experiment to establish a special tax regime «Tax on professional income».

The occurrence mechanism for local governments’ overregulation: evidence from central environmental protection inspection

Excessive environmental regulation can achieve environmental improvement, but it is not conducive to sustainable environmental improvement. This paper takes the “one-size-fits-all” (OFA) in the process of China’s central environmental protection inspection (CEPI) as an example to explore the occurrence mechanism from the perspective of multiple co-governance. Using the fuzzy set qualitative comparative analysis (fsQCA), we find that four distinct mechanisms can result in OFA. Based on the four distinct mechanisms, we find that even if the pollution behavior of enterprises is not serious, local governments may still adopt OFA under a combination of other conditions; non-key cities of environmental protection are more prone to OFA; giving full play to the role of public inspection is a key step to avoiding local government violations. However, the effectiveness of public environmental attention is insufficient under the dual driving force of pollution and the economy under the lack of vertical environmental regulatory pressure.

Time lag analysis of real estate supply policies for housing construction projects

ABSTRACT Real estate is not only a vital component of the economy, but it also has a considerable influence on household finance and various social and cultural phenomena. South Korea is experiencing an accelerating trend of economic polarization, which is being driven by low interest rates and growth paradigm. It’s important to recognize that asset disparity, rather than income differences, is the primary cause of this polarization. Therefore, it is crucial for government entities to intervene through real estate policies to address this issue. However, government policies have at times failed to meet expectations, showing limitations in stability and reliability. They have failed to provide precise responses to demand and supply, ranging from implementing excessive regulation policies to considering occupancy rates as current supply rather than as results of previous policies. To address these issues, we applied cross-correlation analysis to derive time lags between procedures in housing construction projects at the national level in South Korea. This approach can provide essential insights to enhance the effectiveness of supply policies by identifying the temporal discrepancies that occur until actual supply is realized.

Comparing feed-in tariff and renewable portfolio standard in South Korea: Cost reduction impact on non-photovoltaic renewable electricity

Renewable energy (RE) electricity plays a crucial role in addressing climate change but has limitations, such as intermittent production, high costs, and site constraints. South Korea transitioned its RE support system from a feed-in tariff (FIT) to a renewable portfolio standard (RPS) in 2012. This study evaluates the impact of the FIT-to-RPS transition on cost reduction for non-photovoltaic RE technologies (RETs), i.e., onshore wind power, bioenergy power, small hydropower, and fuel cell power, using a learning curve model. The results indicate that the FIT-to-RPS transition did not have a significant positive impact on cost reduction for onshore wind power, bioenergy power, or small hydropower, as the results show negative learning rates (LRs) during both FIT and RPS periods. The analysis suggests that the positive learning effect was hindered by the gradual depletion of sites favourable to RE power plants as more RE power plants were installed. However, fuel cell power, which is not affected by land availability, increased the LR from 1.4 % to 3.5 %.This study has policy implications, such as improving excessive regulations and procedures that hinder the installation of RE power plants on sites with good condition.

Corrective Evaluation of Response Capabilities of Flexible Demand-Side Resources Considering Communication Delay in Smart Grids

With the gradual increase in the proportion of new energy sources in the power grid, there is an urgent need for more flexible resources to participate in short-term regulation. The impact of communication network channel quality will continue to magnify, and factors such as communication latency may directly affect the efficiency and effectiveness of resource regulation. In this context of a large number of flexible demand-side resources accessing the grid, this article proposes a bidirectional channel delay measurement method based on MQTT (Message Queuing Telemetry Transport). It can effectively evaluate the real-time performance of communication links, considering that resources mainly access the grid through the public network. Subsequently, focusing on two typical types of resources on the demand side, namely, split air conditioners and central air conditioners, this article proposes an assessment method for correcting the response capabilities of air conditioning resources considering communication latency. Experimental simulations are conducted, and the results demonstrate that under given communication conditions, this method can more accurately estimate the response capability of air conditioners. This provides a basis for formulating more reasonable scheduling strategies, avoiding excessive or insufficient resource regulation caused by communication issues, and aiding the power grid in achieving precise scheduling.

The nature of the administrative barrier as management decisions

In modern economic conditions, due to restrictions on foreign economic activity and sanctions pressure, it is strategically important to improve the quality and efficiency of management decisions in the field of business activities. Excessive legal regulation, unreasonable requirements, bureaucratization of the processes of interaction between the state and business lead to the emergence of administrative barriers to the implementation of entrepreneurial activities. Despite the fact that the category of administrative barriers is actively used in legislation, a large number of studies have been devoted to the scientific literature, however, the legal nature and content of this concept remains unstudied. The work provides the author’s definition of an administrative barrier, distinguishes this concept from “barriers of economic policy”, “state-political barriers”, “legal barriers” represented by defects in legal regulation, “organizational and institutional barriers”. The complex nature of the institution of administrative barriers is shown, which includes economic, legal and social components.

한국의 의료 공공성에 대한 인식 격차*

Medical care is an essential social service that supports other valued goods, such as life, health, safety, and the guarantee of social opportunities. In many countries, access to medical care is provided through public health insurance systems. South Korea’s medical insurance system, which has expanded at an unprecedented rate in recent decades, performs very well by several internationally recognized indicators. However, excessive government regulations, a private-centered supply of medical resources, and overuse of the system by patients have led to a misallocation of medical resources. This article examines the supply and use of medical care by the Korean government, the medical community, patients, and citizens, highlighting awareness gaps in the public value and nature of medical care. Recognizing this issue is the first step in building a sustainable medical system that ensures that medical resources are appropriately allocated and utilized.

New Anticancer Drugs: Reliably Assessing "Value" While Addressing High Prices.

Countries face challenges in paying for new drugs. High prices are driven in part by exploding drug development costs, which, in turn, are driven by essential but excessive regulation. Burdensome regulation also delays drug development, and this can translate into thousands of life-years lost. We need system-wide reform that will enable less expensive, faster drug development. The speed with which COVID-19 vaccines and AIDS therapies were developed indicates this is possible if governments prioritize it. Countries also differ in how they value drugs, and generally, those willing to pay more have better, faster access. Canada is used as an example to illustrate how "incremental cost-effectiveness ratios" (ICERs) based on measures such as gains in "quality-adjusted life-years" (QALYs) may be used to determine a drug's value but are often problematic, imprecise assessments. Generally, ICER/QALY estimates inadequately consider the impact of patient crossover or long post-progression survival, therapy benefits in distinct subpopulations, positive impacts of the therapy on other healthcare or societal costs, how much governments willingly might pay for other things, etc. Furthermore, a QALY value should be higher for a lethal or uncommon disease than for a common, nonlethal disease. Compared to international comparators, Canada is particularly ineffective in initiating public funding for essential new medications. Addressing these disparities demands urgent reform.

Обязательное страхование ответственности за причинение морального вреда

The article analyses the legal regulation of civil liability insurance for moral damage. The author aims to find out whether the current insurance legislation is necessary and sufficient to introduce compulsory insurance of such liability. It is proved that the insurance of civil liability for moral damage within the meaning of the current versions of paragraph 1 of Article 931 of the Civil Code and paragraph 6 of Article 4 of the Law on the Organisation of Insurance business is lawful. The lack of uniform criteria or methods for calculating the amount of compensation for moral damage makes it difficult to assess the insured interest and is the reason for the rarity of this type of insurance in our country. The author comes to the conclusion that the existing prohibition against the introduction of compulsory insurance of civil liability for moral damage is an unjustified excessive regulation. A proposal is formulated to include in the Concept of Development of the provisions of Part Two of the Russian Civil Code on the insurance contract a provision on amending paragraph 1 of Article 935 of the Code in terms of expanding the list of types of civil liability in respect of which the law may establish the obligation to insure the corresponding risk.

Fictional faces of female suicide: Qualitative analysis of selected Russian-language texts of the school reader

IntroductionIsaiah Berlin’s (1948) exploration of the self-searching of Russian thinkers includes studies of the writers – Tolstoy and others (now – Russian-language texts of the school reader). These studies refute a widespread misconception about the relations between Russian writers and thinkers: namely, that in Russia literature and radical thought form two distinct traditions related only by mutual hostility. The works of Tolstoy, Dostoevsky, Karamzin, Leskov, Ostrovsky, and of minor novelists too, are penetrated with a sense of their own time, of this or that particular social and historical milieu and its ideological content, to an even higher degree than the ‘social’ novels of the west. The personal characteristics of suicide victims, heroines of Russian literature, along with the gender aspects, deserve attention in suicidal behavior (SP) focus.ObjectivesTo study personal characteristics of suicide victims, heroines of fiction.MethodsQualitative analysis of selected Russian-language texts of the school reader.ResultsAt the dawn of literature, we have seen fiery heroines and tremulous victims in the arms of death. Аs psychology approach was developed, and we get acquainted with the tragiс backstory. Psychotypes of suicides are exaggerated and overlapped. «Hysterical»: manipulative, frigid nymphomaniac (e.g., Anna Karenina). «Freedom-loving rebel» (i.e., Katerina reincarnations from A. Ostrovsky) in conditions of excessive regulation. «She-Devil, or Rebel Without a Cause». The obsession with death turns into a criminal and a victim (e.g., «Lady Macbeth of the Mtsensk» by N. Leskov, Turgenev’s Susanna or Klara Milich). The image of a vindictively furious («velvet and tiger claws») woman descends to the Victorian view of female self-will. «Mimosa» is a sensitive, dreamy person, unable to resist the hardships of life, dependent (dies with her beloved, objection). In suicide, the strength of weakness is the outcome of a humiliating life (e.g., Karamzin’s «Poor Liza», «A Gentle Creature» by F. Dostoevsky. The meaning of suicides is the following: a call (to compassion, salvation), a «cry for help», atonement for one’s (imaginary) – someone else’s (by proxy) guilt, and release from encumbrance.ConclusionsFiction and life are united by emotionally unstable characters and/or depression as markers of unsatisfactory resilience. The cultural diversity of gender patterns and interpretations of SP challenges the essentialist view that «femininity» and marriage are protective factors. SP patterns illustrate and complement the explanatory concepts of SP. The inner world of suicidal people is fascinating and contributes to the evidence-based optimism in the «patient-centric» crisis care model.Disclosure of InterestNone Declared

Personal Data in Artificial Intelligence Systems: Natural Language Processing Technology

Objective: to conceptualize, from the viewpoint of personal data protection legislation, the development of natural language processing technology, identifying possible legal barriers to such development and directions for further research of the issue.Methods: the research is based on general scientific methods of cognition, along with which formal-legal and comparative-legal methods were applied, as well as the method of theoretical modeling.Results: it was found that the observance of personal data regime natural language processing in the development of natural language processing technology leads technology, to a conflict between private-legal and public-legal interests, which, personal data in turn, creates obstacles for further development of this technology. The shortcomings of the existing legal order are shown, namely, the insufficient correspondence to the technical features of technology development. This may lead to the risks of excessive regulation, or, on the contrary, to the risks of neglecting critical areas that require protection. Problems in qualifying the data involved in the technology development are outlined. An attempt is made to define the limits of ensuring the lawfulness of personal data processing within the natural language processing technology. The material, temporal and territorial effect of the legal regulation in this field is identified as the limits of ensuring the legality. The author touches upon the possibility of using personal data as a consideration, which is important for the development of natural language processing technology and for the improvement of the information and communication technology industry.Scientific novelty: the paper supplements the scientific discussion on the legal regulation of personal data processing by artificial intelligence systems with an analysis of natural language processing technology. The latter is insufficiently studied, making it relevant to research information law, namely, the legal relations arising around artificial intelligence systems, and to assess the impact of a personal data regime on the development of natural language processing technology.Practical relevance: the applied aspects of the problems researched and the results obtained can be used to improve the legal regulation of public relations in the field of creation and development of artificial intelligence, as well as to identify and assess the legal risks arising in the personal data processing by developers of digital products based on natural language processing technology.

Problems and Prospects of State Regulation of Cryptomining in Kazakhstan

The cryptocurrency mining sector in Kazakhstan has witnessed remarkable expansion, attracting global miners due to favourable conditions. However, this growth has underscored the country's energy scarcity, leading to the enforcement of stringent regulations by the government. This article seeks to offer a thorough comprehension of the regulatory framework governing cryptocurrency mining in Kazakhstan. Examining diverse aspects such as the legal status of mining, licensing structures, tax considerations, and the impact on energy infrastructure, the study utilizes international experiences and stimulus materials. Through the analysis of media representation and examination of primary trends, it is revealed that while the government has addressed legal gaps and instituted transparent tax procedures, taxing digital mining may discourage foreign investments, given the industry's current fragility due to excessive regulations. The article provides insights into the regulatory landscape, emphasizing challenges and opportunities.

The Limits of Legal Regulation of Military Relations

The paper deals with one of the key features of the regulation of legal relations in the military environment. Those are the detailed regulation of rights, responsibilities, the execution of assigned tasks and orders. The author sees the reasons for such legal expansion in the historical tradition, i.e. fostering obedience and discipline among military personnel, guidance assistance to inexperienced commanders for them to be able to fulfill the assigned duties, as well as controllability and the intention to unify military activities in various military formations. Dysfunctional manifestations of this management style are instilling the lack of independence in decision-making, the habit of relying on superior management for all matters, the loss of initiative by subordinates, the inability to work in a team, lack of immediate response to sudden changes in the situation or non-standard situations. During military operations, these shortcomings not only reduce the effectiveness of control but are also likely to result in prevailing enemy's will, defeat, and unjustified casualties. Using particular examples of excessive regulation, the author questions the need, limits and degree of detailed legal regulation in the military environment. The paper analyzes the cases of directive control of the German Army (Auftragstaktik) and the commander's model used in respect of the subordinates with no detailed orders, with the subordinates being free to choose means and methods to achieve their goals. As measures to improve the legal regulation of the domestic military administration, the paper proposes to eliminate the legal responsibility of military commanders for deviation from detailed orders in cases they take reasonable risk and do not violate legally protected interests. The study uses the methods of formal logic, i.e. comparison, description, classification, analysis, synthesis, etc., which made it possible to characterize the essence of the legal relations under consideration and compare them with the methods of legal regulation of the relevant labor relations.

Proposal of a Service Model for Blockchain-Based Security Tokens

The volume of the asset investment and trading market can be expanded through the issuance and management of blockchain-based security tokens that logically divide the value of assets and guarantee ownership. This paper proposes a service model to solve a problem with the existing investment service model, identifies security threats to the service model, and specifies security requirements countering the identified security threats for privacy protection and anti-money laundering (AML) involving security tokens. The identified security threats and specified security requirements should be taken into consideration when implementing the proposed service model. The proposed service model allows users to invest in tokenized tangible and intangible assets and trade in blockchain-based security tokens. This paper discusses considerations to prevent excessive regulation and market monopoly in the issuance of and trading in security tokens when implementing the proposed service model and concludes with future works.

Частноправовое содержание института резервирования максимальной электрической мощности

This article analyzes the main legal trends in the field of maximum electrical capacity reserve in the Russian Federation in the light of energy law innovations. The article examines the various meanings of the concept of maximum electrical capacity reserve, the development trends of the legal substance of the institution of maximum electrical capacity reserve, and contains a comparative legal analysis of foreign law provisions. The identified aspects of the new institution of Russian energy law allow us to conclude that there is excessive public legal regulation of private law relations in this field. The author substantiates the point of view that the potential development of a standard agreement with a condition for maximum electrical capacity reserve will affect the reduction of the discretion of the parties to the agreement and upset the balance of interests of all parties to the legal relations in question. The article discusses options of using the most balanced mechanism for legal regulation of relations associated with maximum electrical capacity reserve in Russia.