Монополия Банка России на эмиссию денег: правовой аспект

Теоретическая и прикладная юриспруденция. 2025. № 2.

Изотов Ю. Г.

The article examines the ways and means by which the legislator ensures the monopoly of the Bank of Russia on the issue of money (ruble). The author notes that the monopoly of the Bank of Russia should be understood in two aspects - internal and external. Internal monopoly is the granting of the Bank of Russia the exclusive right to issue the ruble. External monopoly is a restriction on the circulation of foreign currencies and a ban on money substitutes in Russia. The main issue of ensuring internal monopoly comes down to determining the legal nature of the issue of non-cash money by commercial banks. The Constitution of the Russian Federation prohibits such an issue, but in fact it exists and is an immanent property of any banking system. The author notes that such an issue is dependent and is carried out under the control of the Bank of Russia, and commercial banks are agents of the Bank of Russia, so there is no contradiction to the Constitution of the Russian Federation. The main issue of curtailing external monopoly comes down to the application and disclosure of the legal nature of such categories as legal tender, foreign currency and money substitute. The author suggests considering them not as separate types of money, but as monetary legal regimes, the basis of which is the state's attitude to money issued by various issuers (the national central bank, foreign central banks and private individuals, respectively). The article also examines the problems of legislative technique and offers recommendations for improving legislation.

Keywords: деньги, центральный банк, иностранная валюта, money, emission, денежный суррогат, денежная эмиссия, central bank, money surrogate, legal tender, законное платёжное средство, emission law, эмиссионное право, foreign currency