The new working group was founded with the goal of taking stock of and finding solutions to the main legal and economic challenges related to digital technologies and, more specifically, to develop an effective legal framework to protect digital market participants.
The Internet of Things, artificial intelligence and blockchain technologies, combined with a rapid rise of new kinds of financial assets, have led to the emergence of a completely different financial ecosystem in Russia. The government is fully supportive of the digitalization of the country’s economy, which has attracted the attention of large and
Business innovation is vulnerable due to the lack of a legislative framework. Other factors that impede development include insufficient digital economy infrastructure, a lack of blockchain technical standards, unwillingness of credit organizations to work with digital currency, and dealing with unverified counterparties.
The working group will strive towards taking an active stand within the RSPP (Russian Union of Industrialists and Entrepreneurs) on the main tenets of digital economy: cyber economy, cyber finance, crowdfunding, use of digital tokens in the real economy, digital law, and legal protection of cyber economy participants, data safekeeping and processing infrastructure.