The correlation of the financial and currency system: a problem question of the financial law science

Abstract

To date, in legal science and in practice, there is no clear uniform understanding of the essence and constituent elements of the financial and currency systems, as well as their correlation. In addition, in our opinion, there is a process of separation from the system of financial law a new branch - currency law. All of the above contributes to the emergence of discussions not only about the place of currency law in the legal system, but also about the correlation between financial and currency systems, their constituent elements, goals, functions, as well as the norms of which law should regulate relations within these systems, etc. In this article, we tried to highlight the most problematic issues, from our point of view, and expressed our own position regarding certain controversial provisions. Applying the method of doctrinal analysis, the main approaches of scientists in this direction were outlined, emphasizing certain advantages or controversial points. At the end of the article, the author came to the conclusion that the issue of the correlation between the financial and currency systems in the science of financial law is currently quite debatable. Financial lawyers generally do not pay enough attention to the comprehensive study of the currency system, but consider its individual components within the scope of the science of financial law. Other scientists consider the national currency system as a component of the national monetary system, within the scope of the science of currency law. At the same time, it should be taken into account that the financial and currency systems have both common features and differences. First of all, they differ in goals and functions, as well as in constituent elements and legal regulation. In addition, the financial system has a purely public-legal nature, and the currency system, in our opinion, is more characterized by a combination of private-legal and public-legal nature, with the predominance of the private aspect. So, in the article, we outlined only general approaches that require further scientific research.