The article analyzes in detail the points of view expressed in the doctrine on the legal nature of digital financial assets, digital currency, as well as critical comments regarding the category of “digital property” proposed by the author, which the author substantiated in a number of his other works. In the work, the author argues the legal position that digital financial assets and digital currency are independent objects of civil law, included in the group called “digital property.” The opponents’ arguments that digital financial assets cannot be considered as an independent object of civil law, since they are digitized securities — an object long known to civil law — are examined in detail. The author proves that the tokenization of “paper rights” has seriously changed their legal regime, which gives grounds for the conclusion that tokens for virtual securities (digital financial assets) are currently an independent object of civil law. Digital currency and digital financial assets are part of digital property. Digital property can become the subject of relative and absolute digital rights.

The article is an attempt of a structural approach to the protection of the retail investor. “Structural” in this contest includes the necessity to take into consideration the role of the retail investment market in the financial system of the state, the risky nature of this market, including the potential risky consequences which it can create for the state, therefore the public interest of the state is of “indirect” nature and the “investor protection” is likely to be understood as the fare redistribution of the risks on the retail investment market. The article suggests the four main areas where the relevant measures are to be undertaken.

The article analyzes the impact of sanctions and counter-sanctions on the procedure and standards of banking services, including on the implementation of credit organizations activities in the field of AML/CFT/PWF. Based on the study of relevant legal acts adopted by authorized Russian bodies and domestic legal doctrine, the author shows that in the current situation of inconsistency between applied models of legal regulation and the established principles of regulation of banking relations, credit organizations are forced to revise their previously successfully tested standards and ethical models of customer service. Therefore, the optimal procedure for the normative consolidation of anti-money laundering procedures in the context of the implementation of counter-sanctions have been determined. The trends in sanction (counter-sanction) compliance and aspects of its interaction with financial monitoring in credit organizations are considered, and a form of formalization of the sanctions (counter-sanction) compliance policy in credit organizations is proposed.

This work is devoted to two main issues: understanding the category of “sovereignty” and the role of the banking system in ensuring the financial sovereignty of Russia. Based on the analysis of doctrinal sources, including past historical eras, sovereignty is considered not only as a constitutional and legal institution, but as a general legal institution as a whole. The types of sovereignty presented in the literature are examined and the question is raised about the need to achieve terminological certainty, a conclusion is made about the possibility of the existence of only such an integral part of state sovereignty as economic, including financial sovereignty, which is understood as the financial security of the state from external and internal threats. The issues of ensuring financial sovereignty in relation to the functioning of the Russian banking system are explored. It is proposed to enshrine financial sovereignty in legislation as a principle — a norm of the banking system. It is stated that the condition for ensuring financial sovereignty is the resolution of a number of internal problems, which include the formation of trust in the banking system, financial fraud, and unfair practices. Important issues are building an effective banking system and systematizing banking legislation.

The authors analyze the legal regulation of the use of special bank accounts of various types (literal) in the context of the anti-bankruptcy policy pursued by the Russian Federation. Special attention is paid to the consideration of the regime of a group of special accounts of type “C” (banking, brokerage, clearing, trust management and others) used for settlements on loans and some other financial obligations, accounts of type “O” used for settlements with intellectual property rights holders, accounts of type “I” and “D” for securities settlements. All these accounts make it possible to make settlements with persons from unfriendly jurisdictions and at the same time limit the withdrawal of funds from the Russian economy. The use of accounts of type “K” and type “Z” for obtaining settlements by Russian exporters of gas and grain is also being considered. The conclusion is that these legal instruments are effectively used to ensure Russia’s national interests. The need to move from regulatory regulation to legislative regulation is also emphasized.

The article is devoted to the study of the genesis of the institute of digital currencies issued by central banks, motives and key stages of launching projects for their implementation. The article analyzes the cases of foreign countries in the field of launching their national digital currencies, compares approaches to the legal regulation of digital currencies of central banks and their types. Also, the possibilities for the cross-border use of CBDC and other digital tools in the context of current sanctions restrictions are explored. The article analyzes in detail the legal essence of digital currencies of central banks, and particularly the digital ruble, as well as the features of the legal technique of legislative acts regulating public relations in the field of introduction and circulation of the digital ruble.

The author examines unfair practices of providing loans using a remote method of interaction with the borrower. It proves that the introduction of new technologies into banking often makes it even more difficult for citizens to understand the content of concluded contracts. He notes that one of the problems of using the remote format of concluding contracts in banking was the use by third parties of various fraudulent schemes to gain access to the personal accounts of bank customers and issue loans to them, followed by transfer to the accounts of third (unidentified) persons. Banks, formally complying with the requirements established for the conclusion of consumer loan agreements, actually deprive customers of the opportunity to familiarize themselves with the terms of lending, and also do not always check the compliance of the nature of the use of funds the usual nature of account transactions.

The publication touches on one of the aspects of the integration of cryptocurrencies, as a special object of civil rights, into the national legal and financial systems. Based on the specifics of the “cryptocurrency” category itself, the author distinguishes the legal turnover of cryptocurrency and foreign currency at the present stage, identifies problems that prevent the full integration of digital assets into the financial structure of the state, with the prospect of free circulation, analyzes the state of modern legislative regulation, as well as the possibility of implementing its own cryptocurrency settlement system in the country. The prospects for the development and possible improvement of the legislative framework in this dynamic and relevant area are assessed. Based on the conducted research, the article substantiates that Russian law in the field of regulating settlements using cryptocurrency follows the model of domestic legislation on currency regulation.

This article is devoted to the analysis of changes in relations arising in the sphere of use of copyright objects expressed in digital assets. The legal systems of various countries were unable to choose the most suitable models for the legal regulation of the circulation of works objectified in the form of program code. The problem was that copyright objects, objectified in digital form and called “digital content,” could not be unambiguously qualified, and were recognized as goods, services, or the provision of data. The European legislator spoke in favor of applying a sui generis legal regime to digital content. Thus, classical objects of copyright, acquiring a digital form of fixation and expression, begin to participate in civil circulation using fundamentally different legal mechanisms than the mechanisms of licensing agreements, namely, through the possibility of providing access to digital objects.

Payment (bank) cards are among the most actively spreading phenomena in the modern world order. However, the problems of preserving information that constitutes banking secrecy in the context of digitalization and the active spread of online payments are of particular importance. Banks are also interested in preventing the disclosure of information constituting a banking secret. However, due to the uncertainty of the current legislation, which establishes the range of information related to bank secrecy, a number of problems arise that need to be analyzed. In the presented article, the author attempts to determine whether the payment card details relate to information constituting a bank secret. Examples from judicial practice in cases arising from disputes between banks and their individual clients regarding the legality of transactions performed by the bank using payment cards are given. It is concluded that the details of the payment cards themselves do not relate to the information constituting a bank secret. They can be considered as a structural element of a banking transaction performed using a payment card.

The article discusses topical issues related to the nature of tokens. First, the author pays attention to the proximity of the legal nature of tokens to uncertified securities, which are also a mechanism for accounting for property rights, and not an independent type of property right. Secondly, the author resorts to a comparative legal method when studying the institute and points to the existence of a mechanism for creating digital forms of certification of property pairs in France and Germany. Thirdly, the article contains special interpreted phrases “without reference to a third party” of article 141.1, paragraph 1, of the Civil Code of the Russian Federation, which does not impose prohibitions on any types of intermediation in the market of tokens. Fourthly, the article analyzes the ratio of low-volatile digital currencies to tokens, indicates the difference in their legal nature.

Artificial intelligence is currently widely used by participants in both the Russian market and the global economy. The potential for its further application is significant. At the same time, the widespread use of artificial intelligence in various sectors of the economy, especially in the financial sector, creates not only opportunities, but also carries certain risks, threats and challenges. It seems necessary, on the one hand, to create regulatory conditions for the development of AI technology, and on the other hand, to identify areas for improving the legal regulation of artificial intelligence, allowing for a reasonable balance of interests of consumers, business, and the state and eliminate existing legal uncertainty.

The article, based on an analysis of the current legislation of Russia and the experience of legal regulation of developed countries, draws conclusions about the need to improve the concept of artificial intelligence technologies based on a criteria-based approach. The author proposed a classification of AI technologies according to the intended purpose of use: used for public purposes; used for commercial purposes; AI technologies used for non-commercial purposes. In banking, AI technologies are always used for commercial purposes, and in the financial sector, developers and people using AI are the same. The author concludes that a presumption of guilt has been established for financial organizations using AI technologies in relations with consumers. The proposed classification may be useful in connection with the creation of a system of regulation and supervision, since the current measures of responsibility of financial organizations should be considered insufficient.

Questions remain about the methods of applying AI in law and the approaches to its teaching. The Concept for the Development of MachineReadable Law Technologies addresses the first question, but the second question remains insufficiently addressed. For law students, it is suggested to begin AI training with chatbots. During their practical training, students were tasked with research assignments utilizing AI, comparing the capabilities of ChatGPT and GigaChat. The results indicated that both AIs have their strengths and weaknesses, requiring critical evaluation and refinement. The creation of interactive AI-based textbooks is also proposed, which could significantly enhance the educational process’s efficiency.

The article concerns the current judicial practice by applying the provisions on damages in the bank resolution by The Bank of Russia (par. 2 of clause 5 of The Bankruptcy Act, entered into force on the 8’June, 2018). This rule attracted the attention of researchers from the very beginning due to its specificity: the losses have been called untypical since their amount is determined in advance by law. Now the courts reject to apply these provisions with reference to the absence of retroactive force; in other situation the court has required to examine the circumstances of the case more thoroughly. Analysis of the norm shows that it doesn’t comply with the general provisions of the Russian Civil Law and is unlikely to be successfully applied at all. Herewith The Bank of Russia could use another legal means to achieve the goal of compensation for losses.

The article is devoted to the analysis of the current legal norms governing the accrual of interest on the balance on the bank current accounts most in demand recently among individuals, namely the so-called “savings”/”savings” accounts of an individual, and the possibility of a bank changing the amount of accrued interest on the account balance, including by posting information on the establishment of a different amount of interest accrued by the bank on the account balance on the bank’s website on the Internet by analogy with the newly established tariffs and commissions. The necessity and possibility of obtaining the client’s consent by the bank to change the interest accrued on the account balance, as well as the form of such consent, the legal essence of the accrued interest, are analyzed. The analysis of the norms of legislation and practice made it possible to identify the problem that arises when working with the so-called “accumulative” account and come to the conclusion that it is necessary to improve the norms of current legislation.

The article discusses the history of the appearance of the credit holiday instrument in domestic legislation, its scaling and the key parameters of the new permanent credit holiday instrument under consumer credit (loan) agreements. Based on the research, the author came to the conclusion that the emergence of the credit holiday instrument had a beneficial effect on ensuring that borrowers were able to restore their solvency in a pre-default state and get through the crises of recent years with minimal or no losses in the field of consumer lending.

In connection with the growing role of the information space, the emergence of new security threats, and the transformation of the institution of human rights, it became necessary, through the prism of the traditional understanding of the category of “dignity” and “right to dignity” in the humanities, to highlight current problems of legal regulation of the right to dignity, to its protection and protection, as well as identify current trends in the legal protection of personal dignity. Dignity is a complex category in the institution of individual rights, which is a direct expression of human value, the core, source and meaning of all fundamental rights, as well as a qualitatively necessary component of their implementation and protection. A broad base of normative regulation and protection of the right to dignity makes it possible to identify system-forming norms and institutions within the framework of constitutional law, based on which it is possible, taking into account modern trends and threats to human rights in general and the right to dignity in particular, to build an adequate system for protecting personal dignity

The article discusses the issue of legal trust as current topic of modern Russian legal discourse. The social nature of trust in law in its axiological dimension is explored. The significance of the sociocultural basis for analyzing the axiology of legal trust as a value of constitutional law is substantiated. The value basis of trust finds its expression in the practical sphere, which is discussed in the article using the example of mediation. Trust is a key resource in cognitive processes. To study the practice of mediation through the prism of trust, the features of the cultural and historical development of countries are used. Using the example of the experience of various civilizations, the authentic nature of the emerging mediation activity is substantiated.

Halal financing is undergoing a process of globalization and is beginning to expand actively and steadily. Despite some advantages of this institution, there are a number of pressing problems that need scientific understanding. One of the main problems is the incompatibility of Sharia principles with traditional financial laws. Halal financing, based on the principles of Islamic theological doctrine, uses terminology and concepts that are not always equivalent to generally accepted traditional banking laws. Unlike traditional banks, halal banks cannot enter into certain transactions, such as a traditional consumer loan agreement. Nevertheless, the institution of an alternative to traditional consumer lending has not been sufficiently developed, especially in those countries where halal financing appeared not so long ago. The study of this issue in the post-Soviet space, where halal financing is beginning to develop, is still in its early stages, which necessitates its consideration. The article examines a halal alternative to traditional consumer lending through the murabaha agreement based on the civil legislation of Tajikistan.

The article is devoted to the analysis of the concept and legal regulation of problem debts arising as a result of improper fulfillment of obligations by clients of credit institutions. In the process of analysing the types of problem debts, special attention is paid to the correlation of problem and overdue debts. Any overdue debt should be as problematic. Other debts may also be recognised as problematic if there are significant risks of default. The author comes to the conclusion that the issues of qualification of problem debts are within the competence of credit organisations. Government regulation applies to debt-related credit risks, as well as ways to collect such debt. Special attention in the article is paid to the issue of the dynamics of problem debt. Arising as a failure to fulfill a specific debt obligation, problematic debt can lead to the debtor’s insolvency, which means a change in the status and relations with other creditors. In order to ensure a balance between the rights of the creditor and the debtor, the author formulates a number of presumptions concerning problem debts.

The article studies the legal nature of deliverable futures. The author aims to define a deliverable futures by comparing its legal nature with the nature of the closest financial instrument to it — a deliverable forward. Futures differs from the forward contracts by the obligatory participation of the exchange as a mandatory facilitator in the conclusion and execution of the transaction. It is proposed to consider exchange transactions as a kind of aleatorial contracts, but contrary to bets they are subject to judicial protection under Russian law. The delivery futures is a complex contract, which combines the features of aleatoric transactions and purchase contracts. One the one hand it is related to the former by the presence of stochasticity. On the other hand it is related to the latter in that the underlying assets are sold for a fee.