State regulation of the system of blockchain technologies and cryptocurrency operations

Abstract

Digital technologies are increasingly penetrating various spheres of society, including the economic one. Blockchain the technology has existed for less than 10 years, however, it has successfully established itself in the Russian and world markets. Today, many organizations prefer to invest in specific systems based on blockchain technology. In the Russian Federation, blockchain technologies are also developing rapidly, which means they require clear state and legal regulation. The object of the study is the processes of state regulation and procedures for the use of blockchain technologies in the public financial sector. The subject is managerial, legal, organizational and economic relations, manifested in the development of blockchain technologies in the financial sector of the state. The published article reveals the essence and content of the blockchain platform in the development of a modern payment system, in particular, it substantiates the need for the use of blockchain technology by financial market participants as an innovative tool to accelerate the development of the economy, and considers the interest for the state, since the amount of taxes levied on the crypto industry is a significant share in the specific volume of taxes collected. The risks of using blockchain technologies in the financial system of the state are analyzed. Special attention is paid to the state regulation of the cryptocurrency industry. The main provisions of the road map for cryptocurrencies are considered; the main provisions of the Concept of regulating the circulation of digital currencies; the main provisions of the bill of the Ministry of Finance of the Russian Federation on the regulation of cryptocurrencies. The tools of state regulation of digital currency and the sphere of cryptocurrency are given.