Comparative Legal Analysis of Models of Financial Legal Regulation of Cryptocurrencies and Tokens
( Pp. 194-197)

The purpose of the research. Despite the short existence of the financial technology market, the world has already developed certain approaches to the legal regulation of this industry, determined by the financial policies of specific states. The study of these approaches aims to identify significant gaps in the domestic financial legislation that hinder the development of the Russian fintech industry. Results. The study of foreign experience in the financial legal regulation of tokens and cryptocurrencies on the example of countries that legalized their circulation (USA, Republic of Belarus), as well as countries adhering to a prohibitive approach (PRC), made it possible to formulate a list of gaps in Russian legislation that hinder the development of the financial technology industry in our country. Among these gaps, it is worth highlighting the lack of a fixed list of permitted operations with cryptocurrency and a legal basis for the emission of national digital currency, the inadaptability of tax legislation to taxation of income from transactions with cryptocurrencies and tokens and to economic incentives for participants in the financial technology market.

Razdorozhnyi K.B., (2021), COMPARATIVE LEGAL ANALYSIS OF MODELS OF FINANCIAL LEGAL REGULATION OF CRYPTOCURRENCIES AND TOKENS. Gaps in Russian Legislation, 5 => 194-197.

1. Introduction to the "digital" economy / A. V. Keshe-lava, V. G. Budanov, V. Yu. Rumyantsev [and others]; under total. ed. A. V. Keshelava. - VNIIGeosystem, 2017 .-- 28 p.
Kucherov II Cryptocurrency (ideas of legal identification and legitimation of alternative means of payment): monograph. - M.: YurInfoR, 2018 .-- 203 p.
Razdorozhny KB Problems of financial and legal regulation of digital currencies in the Russian Federation // Problems of Economics and Legal Practice. 2021.Vol. 17.No. 4.P. 153-157.
Razdorozhny KB Problems of taxation of income of individuals and legal entities from operations with digital financial assets // Taxes and taxation. - 2020. -№5. - S. 88-94.
Sitnik A.A. Financial technologies: concept and types // Actual problems of Russian law. 2019. N (6). S. 27-31.
Financial law in the context of the development of the digital economy: monograph / K.T. Anisina, B.G. Badmaev, I.V. Bit-Shabo and others; ed. I.A. Tsindeliani. Moscow: Prospect, 2019.320 p. (the author of chapter 16 S.S.Tropskaya).
Dewey J. Blockchain Cryptocurrency Regulation 2021. USA // URL: https://www.globallegalinsights.com/practice-areas/blockchain-laws-and-regulations/usa (data obrashcheniya: 05.07.2021).
Regulation of Cryptocurrency: China / Laney Zhang // The Library of Congress. June 2018. URL: https://www.loc.gov/law/help/cryptocurrency/china.php ftn3 (data obrashcheniya: 05.07.2021).
The Virtual Currency Regulation Review: USA / M. S. Sackheim, N. A. Howell, J. B. Biery, J. C. Munsell, L. Tessler, M. A. Levy, P. J. Martinson, D. E. Teitelbaum, D. Gallego, A. P. Blake, T. Wilton Harmon, A. R. Rovira, D. J. Applebaum, I. A. Bell, D. Engoren, D. A. Miller, V. A. Van Tassel Richards, S. A. Smith and K. S. Terrero ; Sidley Austin LLP // The Law Reviews. 6 Sep. 2020. URL: https://thelawreviews.co.uk/title/the-virtual-currency-regulation-review/usa (data obrashcheniya: 05.07.2021).

ICO, FinTech, financial technology, financial law, digital currencies, cryptocurrencies, tokens, ICO, FinTech.