The article is devoted to the justification proposed by the author of the system of legal relations arising between various participants in applications operating on the blockchain platform. There are three types of legal relations on the blockchain platform: firstly, legal relations between the platform participants regarding the protocol; secondly,  legal relations between the platform participant — the owner of the token, and all other third parties; thirdly, this is the legal relationship between two or more participants of the platform regarding various virtual objects of civil law. The first type of legal relationship is organizational in nature. Between all users of this platform, a multilateral legal relationship of an organizational type arises based on a multilateral agreement. In accordance with this agreement, participants in the blockchain platform mutually recognize the protocol used on the platform as a regulator of relations between them. The second group of legal relations between the “owner” of the token and all  third parties. These relationships are absolute relationships. By absolute digital rights it is permissible to understand only those civil rights that are certified in cyberspace, including through blockchain technology, but only in relation to digital property that can exist only in cyberspace. The third group of legal relations is the result of the conclusion by the platform participants of an appropriate civil contract of any type. These legal relations are relative obligatory legal relations.

This article discusses the concept and essence of blockchain technology. The main characteristics of the blockchain technology and the reasons why it has prospects in the market of electronic payments and settlements are  formulated. It was noted that the Bank of Russia introduced a new technology based on blockchain — the “Masterchain” technology. The article analyzes the practice of using blockchain technology in various spheres of economy and business. Examples from the practice of using blockchain technology in Russia, Switzerland and China are given.

Federal law No. 115 of 07.08.2001 provides credit organizations with the power to make decisions on refusal to conclude a Bank account (Deposit) agreement, refusal to execute an order to perform a banking operation (hereinafter referred to as “refusal decisions”), as well as on termination of Bank account (Deposit) agreements. 

The uncertainty of the criteria for making refusal decisions and strict liability for violating the requirements of AML/CFT legislation leads to the issuance of refusal decisions on a mass scale, an abundance of legal disputes about the legality and validity of the decisions made, and destabilizes the banking services market.

The article deals with the problems associated with the implementation of refusal decisions by credit organizations, as well as analyzes the draft new Law No. 948530-7, aimed at improving the existing legal regulation on this issue.

This article is devoted to the analysis of current legislation and its application in the field of consumer protection in consumer lending and its insurance coverage. The author considers the questions publicly-legal protection, including, analyzes the powers of the Central Bank of the Russian Federation, Rospotrebnadzor of the Russian  Federation, the Financial Ombudsman of the Russian Federation and concludes that despite the fairly extensive scope of their rights in the field of consumer protection, they, in practice, be insufficient for proper legal protection for stakeholders. In addition, the author touches on topical issues of judicial practice in the field of private legal  protection of consumer rights, including the compliance of the instructions developed by the Supreme court of the Russian Federation on the application of current legislation to the interests of consumer protection. The issue of applying the principle of estoppel in disputes involving consumers in this category of disputes is highlighted  separately.

The article is devoted to restrictions and prohibitions for collection activity according by Fair Debt Collection Practices Act (Sept. 20, 1977). The author believes, that it is reasonable to include some of them in the Federal law # 230-FZ «About protection of the rights and legal interests of natural persons in case of implementation of activities for return of an overdue debt and about introduction of amendments to the Federal law "About  microfinancial activities and the microfinancial organizations"» (July 3, 2016).

From 01.01.2020, Federal law No. 259-FZ of 02.08.2019 “About raising investments on the investment platforms and on amendments to certain legislative acts of the Russian Federation” came into force, which became the first step in the formation of the legal regime of crowdfunding and the inclusion of a parallel system of financial (non-Bank) mediation in the sphere of supervision of the Central Bank of the Russian Federation. The article analyzes the relationship of Law No. 259-FZ with other legal acts, the scope of regulation of which it affected and the  direction of making subsequent changes to them. In addition to the need to include in the legal field of P2P lending, which is one of the types of crowdfunding excluded from the scope of Law No. 259-FZ, it was noted that it  is expedient to resolve the issue that the legislation on consumer protection does not apply to relations in which individuals participate as investors, as well as to expand the scope of credit histories to other ways of attracting investment in addition to issuing loans.

This article is devoted to the study of the system of foreign exchange regulation and foreign exchange control in in Brazil. The paper analyzes the history of the foreign exchange regulation of the specified country, systematizes the sources of legal regulation of foreign exchange transactions, provides information on the powers of the Central  Bank of Brazil in this area, and lists the persons recognized in Brazil as currency control agents.

This article is devoted to the issue of carrying out real security transactions using blockchain technology. The features of concluding real security transactions in the blockchain are determined. The advantages of using blockchain technology for concluding real security transactions are determined.
The provisions of Russian and foreign legislation are analyzed with a view to the possibility of using blockchain technology for concluding real security transactions, including pledge and retention. Conclusions are given on the features of concluding pledge with crypto assets from the point of view of russian law.

he article contains recommendations for improving the draft Federal Law No. 419059-7 “On Digital Financial Assets”. For this, the author proposes to use the experience of China in the field of legal regulation of digital technologies. In particular, the author has described in detail the Official Notice of the People’s Bank of China "On Prevention of Risks Arising from Bitcoin" dated 12/06/2013, the purpose of which is to prevent the uncontrolled withdrawal of capital from the country, concealment of funds, money laundering and money laundering. China is also in no hurry to allow ICOs until legislation is developed that fully takes into account all the risks of using digital tokens, which follows, for example, from the text of the Notice “On measures to prevent the risks associated with the issuance of tokens in order to attract financing."

The article is devoted to the analysis of the legal position of the Ministry of Finance of Russia and the Federal Tax Service of Russia that, guided by Art. 76 of the Tax Code of the Russian Federation, tax authorities are entitled to suspend operations on all accounts and deposits of individual entrepreneurs. It does not matter for what purpose such accounts were opened: for carrying out entrepreneurial activity, or for carrying out operations not related to entrepreneurial activity. After analyzing the current legislation and judicial practice, the author comes to the conclusion that the cash flows of the client as an individual and as an individual entrepreneur are clearly divided. According to the account of an individual intended for consumer purposes, it is impossible to carry out operations related to his entrepreneurial activity. The suspension of operations on a citizen’s accounts that are not related to his entrepreneurial activity violates the rights not only of the citizen himself, but also of third parties. Refusal to a  citizen to open an account with reference to Art. 76 of the Tax Code violates the rights of a citizen as a party to a public contract and a consumer. The collection of tax payments from the accounts of individuals that were not opened for business purposes would undoubtedly go beyond the framework of tax relations in public law and invade other relations, including civil law.

The article presents the genesis of the theoretical views prevailing in the domestic and foreign legal science on contractual legal regulation. Based on the current types of scientific rationality, in the research work proposing stages of the formation and development of conceptual provisions of the general theory of contractual regulation. The author reveals current trends in the sphere of development of the theory and practice of contractual  regulation.

In this work author compares smart-contract to letter of credit. Discovering technological and law aspects of smart-contract. The author underlines indivisibility of these aspects, which consolidate in unique symbiosis of digital  solutions and law constructions. Moreover, technical and law nature are to be discovered in this paper, particularly, program and law mechanism of smart-contract. Comparing smart-contract to letter of credit, author concludes that smart-contract is one of types of letter of credit as a payment instrument.

This article concentrates on the problems related to the participation of banks in bankruptcy proceedings of borrowers and counteraction to dishonest creditors when trying to establish control over bankruptcy proceedings,  as well as artificially increasing the requirements of “friendly” creditors. The author presents the current court practice on these issues, taking into account the specifics of banks as participants in proceedings for bankruptcy of borrowers. In addition, the article analyzes a new Review of the judicial practice of resolving disputes related to the establishment in the bankruptcy proceedings of the requirements of the controlling debtor and its affiliates, approved by the Presidium of the Supreme Court of the Russian Federation on 01/29/2020.

Several principles of financial institutions used in Islamic banks have recently been approved by the Sharia Supervisory Board. One of these tools is an independent bank guarantee. An analysis of sureties in Muslim law is given in this article. The conditions of the Sharia law on guarantees are defined. The article considers the grounds that prohibit an Islamic Bank from becoming a guarantor and taking a Commission for providing this service. It is  claimed that kafala (as an Islamic contract) is a guarantee of the safety of funds or property, which is given by the  Bank to the owner when transferring or depositing his property from a third party. If the client has any property claims, and the third party does not fulfill its obligations, then the guarantor, i.e. the Bank, assumes all responsibility for resolving the problem.

The article analyses legally established list of prevention of insolvency (bankruptcy) of credit institutions, estimates doctrine proposed classifications of that measures, notes priority approaches to the classification, analyzes the base problems that impede the construction of a unified system of measures of prevention of insolvency (bankruptcy) of credit institutions at the current stage of development of legislation in the Russian Federation.

The article highlights the key problems of legal regulation of electronic banking products in general and electronic bank guarantees and counter-guarantees in particular. The author is consider two main approaches to compliance with the written form of the agreement when making a transaction in electronic form. The analysis is carried out of judicial and banking practice in the field of providing electronic bank guarantees and counter-guarantees.

The article is devoted to the issues of restricting the freedom of contract of credit organizations by the Bank of Russia. The author notes that the activity of the Bank of Russia manifests in this direction in many ways. The author concludes that the Bank of Russia’s law enforcement, lawmaking and activities regarding the legislation play a significant role in restricting the freedom of contract in banking activities when entering into contractual  relations, both with entrepreneurs and consumers of banking services.

The article discusses in detail a number of problems that banks and their customers constantly face — individuals, when the legislation, for various reasons, is unable to protect the rights and legitimate interests of consumers. In particular, the author examined the problem of bailiffs executing seizure of accounts and deposits of individuals.  Another problem is the order process, the implementation procedure of which deprives the citizen of the opportunity to defend his rights due to the lack of information on the procedural actions of the applicant and the judge. The author of the article favored a corresponding change in legislation.