{"id":13761,"date":"2021-10-30T12:54:04","date_gmt":"2021-10-30T12:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/russias-constitutional-court-expects-to-face-crypto-related-cases\/"},"modified":"2021-10-30T12:54:04","modified_gmt":"2021-10-30T12:54:04","slug":"russias-constitutional-court-expects-to-face-crypto-related-cases","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/russias-constitutional-court-expects-to-face-crypto-related-cases\/","title":{"rendered":"Russia\u2019s Constitutional Court Expects to Face Crypto-Related Cases"},"content":{"rendered":"

The Constitutional Court of the Russian Federation is going to have to deal more and more often with cases involving new kinds of individual rights, its head has recently admitted. Some of them will be related to cryptocurrencies and blockchain technology, the official believes. <\/strong><\/p>\n

Constitutional Court of Russia to Defend Rights Related to Cryptocurrencies<\/h2>\n

Constitutional justice, as far as protection of human rights is concerned, will be increasingly influenced by the emergence of a new generation of rights, Valery Zorkin, chairman of the Constitutional Court of Russia has acknowledged. These are various rights, including environmental, reproductive and informational, Zorkin says in an article<\/a> published by Rossiyskaya Gazeta, the official government daily.<\/p>\n

Having recognized that, the high-ranking representative of the Russian judiciary notes that in the very near future, the Constitutional Court will have to consider these new rights of individuals, stemming from the scientific and technological revolution, when reviewing complaints filed with the institution.<\/p>\n

Life is changing rapidly and new objects of legal regulation are appearing, Zorkin elaborates, such as \u201crobots, artificial intelligence, biotechnology, new types of transport, and so on.\u201d The constitutional judge adds:<\/p>\n

Not to mention such things that have already become commonplace, such as new financial instruments, blockchain (distributed ledger), cryptocurrencies, and so on.<\/p>\n

However, Valery Zorkin also warns that innovation can bring both benefits and risks. \u201cAfter all, human nature is such that what was invented by some to improve people\u2019s lives, others can figure out how to turn it to evil,\u201d he says.<\/p>\n

In Zorkin\u2019s opinion, no one can predict if the losses would be greater than the gains at a certain point in time. He views the court\u2019s role as a \u201cuniversal regulator\u201d tasked to prevent any negative consequences from these developments while ensuring it\u2019s not hindering progress.<\/p>\n

Zorkin\u2019s comments come at a moment when Russia has only partially regulated cryptocurrencies and related activities. While providing key legal definitions in the crypto space, the law \u201cOn Digital Financial Assets,\u201d which entered into force in January of this year, does not introduce any rules for the circulation of digital coins in the country.<\/p>\n

Cryptocurrency mining isn\u2019t properly regulated either, despite mounting calls<\/a> from officials to recognize it as an entrepreneurial activity. Aspects related to the taxation of virtual currency incomes, profits, and transactions need to be addressed as well.<\/p>\n

Last week, the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib<\/a>), the country\u2019s main crypto industry organization, slammed<\/a> authorities in Moscow for doing \u201cabsolutely nothing\u201d to bring the sector out of the shadow economy. The criticism comes four years after President Vladimir Putin mandated<\/a> the adoption of legislation tailored to define the legal status of digital technologies utilized in the financial sector by July 2018.<\/p>\n

Do you think the Russian Constitutional Court will have to review a lot of cases related to cryptocurrencies in the future? Tell us in the comments section below. <\/em><\/strong><\/p>\n

Bitcoin News
\nRegulation, Blockchain, cases, Chair, Chairman, Complaints, constitutional court, constitutional justice, constitutional law, Crypto, Cryptocurrencies, Cryptocurrency, Digital Assets, DIstributed Ledger, financial instruments, Judge, Law, Regulations, Review, Russia, russian, Russian Federation court, Valery Zorkin<\/p>\n","protected":false},"excerpt":{"rendered":"

The Constitutional Court of the Russian Federation is going to have to deal more and more often with cases involving new kinds of individual rights, its head has recently admitted. Some of them will be related to cryptocurrencies and blockchain technology, the official believes. Constitutional Court of Russia to Defend Rights Related to Cryptocurrencies Constitutional…<\/p>\n","protected":false},"author":0,"featured_media":13762,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13761"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13761"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13762"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}