Liability and the Digital Age: Comparative Analysis of the Australian, South African and CIS States Legislative Approaches

Abstract

The specific set of means of criminal law protection of the monetary sphere in the state is determined by many factors, among which economic ones are of primary importance. In this regard, approaches to the construction of a set of these means may vary depending on the economic system of the state. States with a develop economy establish criminal law prohibitions in the monetary sphere, mainly concerning counterfeiting of currency, as well as money laundering. Countries with a different, for example, mixed economic system are characterized by the consolidation of additional means of criminal law protection of the monetary sphere, including liability for failure to return funds from abroad, smuggling, etc. With that the rapid proliferation of digital assets platforms has democratized capital flow relations, enabling a vast spectrum of chances to bypass so called analog legal barriers has also raised concerns regarding means of counteracting of unlawful actions in the digital sphere. The study outlines approaches of some different countries, including Australia, South Africa, CIS states, which can be taken into account. It argues that differences in the type of economic systems of the states do not at all predetermine the impossibility of conducting a comparative legal study of their approaches in the digital sphere. On the contrary, the coincidence in the type of economic systems of two or more countries, in the digital age cannot serve as correct grounds for confirming the thesis on the relevance. The author summarizes the need for changes in the liability regulatory framework.