Управление системой денежного обращения как услуга эмитента: экономический и правовой аспект

Контуры глобальных трансформаций: политика, экономика, право. 2025. Т. 18. № 2. С. 44–61.

Изотов Ю. Г.

The study is devoted to defining the nature of money and monetary
systems, as well as problems associated with the legal regulation of the relevant
relations. To achieve this goal, the following tasks were set: to analyze existing
theories about money and identify their shortcomings, formulate and prove a new
concept of money as a means of providing a service by its issuer to users of the
monetary circulation system, identify problems of steam regulation of relations on
the use of money in Russia. The corresponding part of the study is devoted to the

solution of each problem. The author criticizes the main thesis of evolutionists that
money is a commodity and an independent economic benefit. In his opinion,
individuals and legal entities do not use them, but the monetary circulation system,
and it is the latter that has value. The management of this system is a service
provided by the issuer. The formulation of the new concept allowed us to take a
different look at the legal regulation of the relevant social relations. A strong bias
in favor of the Bank of Russia and almost complete defenselessness of ruble users
were established. A contradiction was also revealed between the provisions of the
Constitution of the Russian Federation, which simultaneously establish freedom of
economic activity and hinder its implementation in the event of the Bank of Russia
violating its obligation to ensure the stability of the ruble - a ban on the use of
foreign currencies and monetary surrogates. The conflict was resolved in favor of
freedom of economic activity. The study proposes solutions to other problems of
legal regulation, such as absolute immunity of employees of the Bank of Russia.

Keywords: деньги, денежная система, центральный банк, nature of money, природа денег, money, денежная эмиссия, central bank, monetary system, monetary circulation system, legal status of the Bank of Russia, money emission, theories of money, система денежного обращения, правовой статус Банка России, теории денег