Digital monetary system and social relations: legal realities and prospects of the implementation mechanism

DOI: https://doi.org/10.46925//rdluz.38.01
Keywords: Legal regulation, economic policy, monetary policy, digital money, digital monetary system

Abstract

This text offers a reflection on the legal aspects of the implementation of the digital money system in Ukraine and abroad. The authors also analyzed and modeled the directions of development of social relations arising from the use of digital money in various spheres of people's lives. In particular, the authors of the study identify the details of the impact of the digital monetary system in ensuring stability and the implementation of monetary policy in the financial sphere. Likewise, the potential impact of the use of digital money in the banking system is analyzed. The authors investigated the possibility of ensuring the transparency of transactions and control over the circulation of digital money, and proposed the appropriate legal mechanisms that must be implemented for the effective functioning of the digital money system.

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Author Biographies

Evgen Kharytonov, National University “Odesa Law Academy”, Odesa, Ukraine.

Doctor of Legal Science, Professor, Head of Civil Law Department of National University “Odesa Law Academy”, Odesa, Ukraine. Corresponding Member of National Academy of Law Sciences of Ukraine.

Anatoliy Kostruba, Vilnius University, Vilnius, Lithuania.

Doctor of Legal Science, Professor, Vilnius University (Vilnius, Lithuania).

Iryna Davydova, National University “Odesa Law Academy”, Odesa, Ukraine.

Doctor of Legal Science, Professor, Professor of Civil Law Department of National University “Odesa Law Academy”, Odesa, Ukraine.

References

Barontini, C., & Holden, H. (2019). Proceeding with Caution – a Survey on Central Bank Digital Currency. BIS Papers. 101. In https://www.bis.org/publ/bppdf/bispap101.pdf.

European Central Bank (2020). Report on a digital euro. In https://www.ecb.europa.eu/pub/pdf/other/Report_on_a_digital_euro~4d7268b458.en.pdf

Trikur, M. (2021). Monedas digitales: matices de la regulación legal. Edición Jurista&Derecho. In https://uz.ligazakon.ua/ua/magazine_article/EA015112

Wright C.S. (2019) Bitcoin: A Peer-to-Peer Electronic Cash System. SSRN Electronic Journal. In https://scholar.google.com/citations?user=rXxMBUYAAAAJ&hl=en

SMART – infrastructure in the sustainable development of cities: world experience and prospects for Ukraine. (2021). Razumkov centre. In https://razumkov.org.ua/uploads/other/2021-SMART-СYTI-SITE.pdf
Published
2022-09-04
How to Cite
Kharytonov, E., Kostruba, A., & Davydova, I. (2022). Digital monetary system and social relations: legal realities and prospects of the implementation mechanism. Journal of the University of Zulia , 13(38), 3-7. https://doi.org/10.46925//rdluz.38.01
Issue
Vol. 13 No. 38 (2022): Revista de la Universidad del Zulia, Vol. 13, Núm. 38, Septiembre-Diciembre 2022
Section
Presentation

Copyright

The Revista de la Universidad del Zulia declares that it recognizes the rights of the authors of the original works published in it; these works are the intellectual property of their authors. The authors preserve their copyright and share without commercial purposes, according to the license adopted by the journal..

 

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