Cryptocurrency Development in Russia

Natalya Vitalievna Usova, Mikhail Pavlovich Loginov and Elizaveta Igorevna Makovkina
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Natalya Vitalievna Usova: Ural State University of Economics
Mikhail Pavlovich Loginov: Ural State University of Economics
Elizaveta Igorevna Makovkina: Ural State University of Economics

A chapter in Challenges and Solutions in the Digital Economy and Finance, 2022, pp 417-421 from Springer

Abstract: Abstract The strengthening of the digital technologies role and the transition to a digital model of the national economy require all participants in the financial system to reconsider priority areas for development. They also require an assessment of possible threats and opportunities from the use or complete ban on the national financial market of various cryptocurrencies. The increasing relevance and debatability of the issues of circulation of cryptocurrencies in the territory of the Russian Federation led to the consideration of various points of view on this issue. The authors, using analysis, comparison, and grouping methods, achieved the goal of determining prospects, as well as risks and opportunities, subject to the assumption by the state of cryptocurrencies on the national financial market. To achieve the goal, an analysis of scientific papers, as well as analytical materials on cryptocurrencies, was carried out. The analysis served as the basis for the formation of a single list of both risks associated with the functioning of cryptocurrencies in the Russian market and emerging opportunities. The risks identified by the authors and the opening opportunities for the national economy allow developing a number of measures. These measures aimed at improving the effectiveness of the national financial system in the context of the digital transformation of the national economy and the growing popularity of the global cryptocurrency market.

Keywords: Crypto-currency; Legal regulation; Central Bank of the Russian Federation; Crypto-currency risks; Crypto-currency prospects; National financial market (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-14410-3_43

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DOI: 10.1007/978-3-031-14410-3_43

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