Problems of Criminal Responsibility for Illegal Circulation of Cryptocurrency

Despite the rapid growth in the popularity of cryptocurrency, its legal status is still unsettled. The process of issuance and circulation of the most common cryptocurrency is completely decentralized, and there is no possibility of its regulation, including from the state. Another key feature of us...

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Bibliographic Details
Main Authors: Rustem, Magizov, Sergey, Kuznetsov, Anastasia, Kasatova, Muhamat, Gilmanov, Venera, Garipova, Aleksey, Kuznetsov
Format: Conference Proceeding
Language:English
Subjects:
Bitcoin
cryptocurrency
cryptocurrency as a means of payment
distribution of information on cryptocurrency turnover
Law enforcement
legal circulation of cryptocurrency
Online banking
responsibility for cryptocurrency turnover
virtual currency
Online Access:Request full text
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Summary:Despite the rapid growth in the popularity of cryptocurrency, its legal status is still unsettled. The process of issuance and circulation of the most common cryptocurrency is completely decentralized, and there is no possibility of its regulation, including from the state. Another key feature of using cryptocurrency is the anonymity of users of such cryptocurrency. These facts, as well as the possibility of uncontrolled cross-border money transfer and their subsequent cash withdrawal, are prerequisites for a high risk of the potential involvement of cryptocurrencies in criminal schemes. The article presents a brief overview of the use of cryptocurrency for criminal purposes and the need to introduce criminal law bans on criminal encroachment in the field of cryptocurrency in Russia.
ISSN:2161-1351
DOI:10.1109/DeSE.2019.00185