PUBLIC AND PRIVATE LAW PRINCIPLES IN THE REGULATION OF THE DIGITAL CURRENCY OF THE CENTRAL BANK OF RUSSIA

Abstract

The paper examines the interdisciplinary regulation of centralized digital currency issued by central banks. The study focuses on the public and private law principles of the Central Bank of Russia's digital currency. Methods: The theoretical basis consists of scientific publications on the issue. The study is based on the analysis of the legal provisions of financial and civil legislation determining the digital ruble’s legal status. The formal legal method allowed the authors to describe the content of the digital currency’s inter-sectoral legal nature. Results: The legal nature of the Central Bank of Russia's digital currency is investigated. Close attention is paid to the provisions "On the digital ruble" focusing on the public and private law norms. The lack of a clear conceptual framework causes difficulties in interpreting the basic categories. The dual legal nature of the digital ruble is substantiated. This duality is manifested in the fact that the digital ruble is an object of financial law as the national digital currency issued by the Central Bank of Russia. On the other hand, one should consider the binding nature of the digital ruble reflected in the provisions of private law and the Federal Law "On the national payment system". Conclusion: Digital currencies are considered or implemented by many central banks around the world. Despite the importance and potential consequences of such drastic changes in national currencies, many unknown parameters remain.