BITCOIN AS A SPECIAL KIND OF CRYPTOCURRENCY: A CONCEPT, MEANING AND PROSPECTS OF LEGAL REGULATION IN BUSINESS

Abstract

In order to develop the digital economy in the Russian Federation, the Program «Digital Economy of the Russian Federation» that is aimed, inter alia, at the formation of a regulatory framework for the legal regulation of new relations in the field of digital economy, was approved by the Decree of the Government of the Russian Federation No. 1632-r of July 27, 2017. Particularly relevant in this regard is the issue of cryptocurrency and bitcoin legal regulation. The article deals in detail with a special type of cryptocurrency, namely: bitcoin. The author analyzes the main problems associeted with the necessity of legal regulation of cryptocurrencies. The conclusion is made that legal regulation of cryptocurrency as a means of payment requires a complex approach and it is impossible without due regatd to the peculiarities of legal regulation of bitcoin. The paper provides for the interaction between the concept of bitcoin and other key concepts, namely: virtual currency and digital currency. The author concludes that it is necessary to create a non-governmental self-regulatory organization supported by the State in order to protect the interests of the cryptocurrency business. Since legal regulation of cryptocurrencies is global in its nature, the article examines the foreign experience of legal regulation of cryptocurrencies and their types.