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Cryptocurrency Development in Russia

In: Challenges and Solutions in the Digital Economy and Finance

Author

Listed:
  • Natalya Vitalievna Usova

    (Ural State University of Economics)

  • Mikhail Pavlovich Loginov

    (Ural State University of Economics)

  • Elizaveta Igorevna Makovkina

    (Ural State University of Economics)

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.

Suggested Citation

  • Natalya Vitalievna Usova & Mikhail Pavlovich Loginov & Elizaveta Igorevna Makovkina, 2022. "Cryptocurrency Development in Russia," Springer Proceedings in Business and Economics, in: Anna Rumyantseva & Vladimir Plotnikov & Alexey Minin & Hod Anyigba (ed.), Challenges and Solutions in the Digital Economy and Finance, pages 417-421, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-14410-3_43
    DOI: 10.1007/978-3-031-14410-3_43
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