Abstract:

This article is devoted to the study of the organization and legal regulation of regional and local monetary circulation at various stages of development of Russia and individual states of Europe. The study is devoted to the study of vertical parallel monetary circulation, which is quite common in world practice and has its positive points. The paper concludes that regional and local currencies prevent capital outflows from a single territory of the State, contribute to the preservation and development of regional and local industries, which is very important in the context of globalization, as well as contribute to the development of tourism activities. In Russia, vertical parallel monetary circulation, like any other parallel monetary circulation within the state, is without alternative prohibited both by the Constitution of the Russian Federation and other normative legal acts and is generally perceived negatively due to the events that took place in Russia in the early 1990s.