On the Legal Regulation of Cash Circulation in Russia: Unresolved Issues in the Context of Business Interests and Consumer Protection in Financial Services

The article raises a number of debatable issues concerning the legal regulation of cash circulation in the Russian Federation in connection with the Main Directions of its Development for 2026—2030 approved by the Bank of Russia. The problem is examined through two cross-cutting analytical axes: guarantees of legal certainty for participants in the cash circulation market and the protection of the rights of consumers of financial services. The author argues that the existing regulation of the cash-in-transit market is incomplete, raises the question of the legal nature of the regulator’s strategic and programme acts, points to the lacuna in the legislation on critical infrastructure of cash circulation, to the underdeveloped mechanism of liability for unjustified refusal to accept banknotes and coins of the Bank of Russia, and to the absence of a legal regime governing banknote-like items. The relationship between the cash and digital forms of the national currency following the introduction of the digital rouble is discussed. Proposals de lege ferenda are formulated, aimed at enhancing legal certainty for business and at expanding the guarantees of citizens’ rights in the sphere of cash payments.

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