Suchergebnisse

Independent monetary system of a state is an essential attribute of its sovereignty.In today's conditions grounds to determine money as a commodity and apply a general property regime to it are absent, because its value is practically equal to zero. Summarizing researchers' approaches, money should be considered from the standpoint of absolute and unconditional obligation of a money issuer and dynamic forms of interaction between participants of the financial and economic process.Legal regulation of national money emission is one of the structural elements of monetary system of a sovereign state, which also includes established by law a national monetary unit, money forms, cash token money types, forms of monetary circulation and its regulation.The terms «money issue» and «emission» are not equivalent. Money supply is increasing during emission, in contradistinction to money issue.Today state monetary regalia occupies a leading role in mandatory monetary systems building and functioning.The emission currently has fiduciary (trustful) character, namely it is carried out without providing real money. It allows to use it widely and freely as a way of regulation and influence on the socio-economic situation of a state. Simultaneously, legislation of each state establishes a range of emission activity subjects, procedure of emission, obligations of the issuer, certain means of ensuring interests of users of monetary funds, issued in the financial system of a state. Therefore absence of real complete providing does not mean the opportunity of conducting groundless emission to solve economic problems.Emission in Ukraine is conducted in accordance with the regulations of the National Bank of Ukraine (hereinafter – the NBU), which determine its frequency and scope. The instrument for achieving goals, set by the state, is means and methods of the monetary policy of the NBU.Ukraine's legislation establishes clear and categorical prohibitions on direct repayment of current demand for cash through emission, for the purpose of hyperinflation prevention and devaluation because of critical growth of not provided money supply.For ensuring the monopoly right to conducting money emission in Ukraine, the legislation of Ukraine refuses to legalize widespread cryptocurrency (for instance, «Bitcoin»), recognizing them as prohibited by law «money substitutes».Electronic money issue is only a form of cashless payment instruments. Electronic money is an electronic substitute for banknotes and coins and monetary obligation of the issuer.Electronic money is used as a means of payment, accepted by a limited number of persons, provided by the issuer in exchange for the funds in cash or cashless form and according to the legislation of Ukraine it is not currency values and monetary funds.The system of legal responsibility of the NBU needs a change in the direction of certainty of clear grounds and procedure of responsibility of the NBU board for a violation of grounds, conditions and procedure of conducting money emission in the financial and economic system of the state and the transformation of constitutional legal (political) responsibility into reality. ; Досліджено проблему визначення загального механізму грошової емісії та проблеми реалізації цього процесу в Україні. Розкрито загальне призначення грошової емісії у фінан­совій системі та процедурі грошового обігу. Розглянуто основні засади випуску грошей на підставі реалізації державної монетної регалії.Вивчаючи Національний банк України як монопольний емісійний центр в Україні, зосереджено увагу на природі емісійної діяльності НБУ, гарантіях його правового статусу, що дають змогу проводити емісію на підставі економічних закономірностей.Досліджено форми та правила розрахунків в Україні, зокрема за посередництвом новітнього платіжного механізму «електронні гроші». Визначено перспективи нормативних змін для підвищення якості правового регулювання досліджуваної сфери відносин.

We present the institution of a local referendum from a comparative perspective on the example of legal regulations in Ukraine and Poland. The study is the result of the ongoing research of the two Authors and is of crucial importance in the current political situation – the Russian aggression against Ukraine. Hence, it is relevant both nationally, Europe-wide and internationally. The analysis includes a legal comparative analysis of institutions and an attempt to assess their effectiveness. The authors point out that there is a need for effective 'safeguarding' in Ukraine to prevent the referendum from being used as a political instrument (at hoc), against the will of the people. The analysis uses a dogmatic and comparative legal method and draws on the authors' experience of holding local referendums. This research may be useful not only for the researchers of the local government law but also for the legislators.