The Legal Regime of Payments by Electronic Money

In the conditions of a market economy with the improvement of the level of technology, there are more and more different payment means appear that significantly speed up and reduce the cost of the process of the fulfillment of monetary obligations. The Institute of Electronic Money has the opportunity to simplify and speed up the payment process without opening bank accounts. Due to the development of e-commerce, such technologies are in high demand. For a long time, the legislative regulation of this institution was fragmented and unsystematized. Legal definition of electronic funds was settled in 2011, with the adoption of the Federal Law "On the national payment system". On the other hand, the place of electronic money among the objects of civil rights and forms of payment is still uncertain. Moreover, in legal science there is no common opinion on these issues. The object of research is the relations arising in the sphere of the circulation of electronic funds. The subject of the study is a complex issue concerning the legal nature of electronic money, their place in the system of civil rights. Accordingly, the aim of the work is to study insufficiently developed problems related to the concept of "electronic money", to determine their place among objects of civil rights.