On Measures for Digital Technologies in the Financial Sphere Regulation

Abstract

Russia is actively engaged in the development of innovative technologies, which is confirmed by the adoption in July 2017 of the program «Digital Economy of the Russian Federation». Blocking technology and products based on this technology are the most approximate to the consumer. Crypto-currencies and Initial Coin Offering (ICO) based on them are used not only by large companies, but also by ordinary citizens. However, the peculiarity of this sphere in Russia is the absence of state regulation.
Based on the analysis of international and Russian experience in regulating digital technologies in the financial sphere, the authors formulated a number of proposals. In particular, to support the idea of the participants of the first Russian forum “Internet Economy” about creating a website where citizens can see who processes their personal data. The website can become a tool for handling consent to the processing of personal data.