About some applied aspects of digital financial assets as a new financial instrument

With the development of scientific and technological progress, the information environment inevitably expands and gradually begins to cover practical all areas of modern human life, including commodity and monetary relations, and the market economy. On January 1, 2021, the law “On Digital Financial Assets” entered into force. It defines cryptocurrency, but prohibits its use in Russia to pay for goods and services. Also, advertising payments with digital money is subject to the ban. According to the new law, the digital currency is “a collection of electronic data (digital code or designations) contained in the information system that are proposed and (or) may be accepted as a means of payment, which is not a monetary unit of the Russian Federation, a monetary unit of a foreign state; (or) an international monetary or unit of account, and (or) as an investment and in respect of which there is no person obliged to each holder of such electronic data.