Ensuring the legal conditions for implementation of digital technologies in the financial market in the context of the realization of the program «Digital Economy of the Russian Federation»

• Alekseenko A.P.

  А.Р. Alekseenko. Vladivostok State University of Economics and Service. Vladivostok. Russia

This article analyzes implementation of the national project “Digital Economy of the Russian Federation”. Special attention is paid to the issues of legal support use of innovative technologies such as tokens, cryptocurrency and crowdfunding in the financial sector. The authoraims to identify the problematic aspects that the legislator faced with in the sphere of developing the regulatory framework for the regulation of digital technologies in the financial sector. Therefore, this paper basing on analysis, synthesis, induction, deduction, as well as formal legal and hermeneutic methods, studies the process and results of the implementation of the national program “Digital Economy of the Russian Federation”. The author analyses the Federal Law “On Attracting Investments Using Investment Platforms and Amendments in Certain Legislative Acts of the Russian Federation” and the draft Law “On Digital Financial Assets”, as well as amendments to the Civil Code of the Russian Federation concerning digital rights. It has been shown that the implementation of the national project is lagging, while the main difficulty is elaboration of legislation on digital financial assets, in particular determination of legal status of cryptocurrency. The provisions of the draft law “On Digital Financial Assets” do not cover the issuance and circulation of tokens. Therefore, author makes proposals for the legal regulation of digital financial assets. Basing on the variety of tokens, it is proposed to elaborate legislation where tokens are not deemed just as type of shares, but also as bonds. With regard to the law governing crowdfunding, despite a number of controversial aspects, we can conclude that it will be applicable in practice.

 
Keywords: investments, digital economy, digital rights, digital financial assets, investing plat-
form, crowdfunding, financial market, digitalization, token, cryptocurrency, securities.