Development of the national crypto industry as one of the elements of the financial and technological sovereignty of the state

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Abstract

The article examines the problem of forming an independent digital national payment and settlement infrastructure and developing the crypto industry as an element of the financial and technological sovereignty of the state, and also the potential and risks of using innovative financial technologies and products (including cryptocurrencies and virtual assets) in the national financial sector. The issues of information security are studied in the context of the development of digital assets and utilitarian digital rights, overcoming the existing vulnerability of the Russian information infrastructure of the credit and financial system from foreign software and component base. The development of the national crypto industry and the sector of related financial services is considered taking into account the trends of fragmentation of the global financial and economic system, decreasing trust in international financial institutions, increasing conflict potential in the areas of financial and economic interests of Russia, structural restructuring of the economy and reformatting of international economic relations of the Russian Federation. In the context of strengthening financial and technological sovereignty, proposals have been developed for the phased development of digital financial products, institutionalization of digital assets and cryptocurrencies in the Russian legal and financial system.

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About the authors

Alexander D. Kerimov

Institute of State and Law of the Russian Academy of Sciences

Author for correspondence.
Email: 8017498@mail.ru

Doctor of Law, Professor, Chief Researcher, Sector of Constitutional Law and Constitutional Justice

Russian Federation, 10 Znamenka str., 119019 Moscow

Vladislav V. Krasinsky

Kutafin University

Email: krasinskijvv@fedsfm.ru

Doctor of Law, Associate Professor, Chief Researcher, Institute of Information and Media Security

Russian Federation, 9 Sadovaya-Kudrunskaya str., 125993 Moscow

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