Electronic Money as Means of Payment in the Digital Economy

This graduate paper is aimed at to undertake a specifically multidimensional research of theoretical, comparative and law enforcement aspects of e-money. Currently there is no generally accepted definition of electronic money, moreover in Russian legislation the definition of electronic money is insufficient, therefore the issue of legal regulation remains open. The main objectives of the paper are: (а) to study the theoretical questions of the origin of electronic money; (b) to review the methodological aspects of the analysis methods and instruments of e-money circulation; (c) to compare the approaches of foreign countries in respect of electronic money; (d) to suggest possible ways of solving legal problems in the functioning of electronic money in Russia. The paper consists of an introduction, three chapters, ten paragraphs, a conclusion and a bibliography. Based on this research the following conclusions were made: firstly, the definition of the electronic money in the digital economy was determined; secondly, the main tendencies in the development and regulation of electronic money in the various countries were defined, including the sphere of legal regulation; thirdly, on the basis of generalization of Russian and foreign experience of regulation of the electronic money the recommendations, that allow to increase the reliability and efficiency of functioning of the systems of electronic money were proposed.