Innovative Fintech Projects as An Incentive for Development of Tax Legislation in Russia (Using the Example of Investment Platforms)

Abstract

Russia has come a long way in establishing an entrepreneurial culture. But, despite this, the short history of the country’s market economy requires continuing the course of transformation of legislation related to the innovation economy. Recently, the number of projects in the financial and technological sphere operating at all levels of financial activity has been growing rapidly. The most striking examples include the creation of various services: banking, investment (including cryptoexchanges), and tax services that provide their functions through mobile applications and provide more opportunities to use them, thereby replacing outdated ways of interacting with customers. In this article, the author examines how the rapid development of new forms of economic relations has affected the legal regulation of financial technologies in the domestic legal system. The author used the method of content analysis to solve these problems, and as a subject considered local legislative gaps that arise in the activities of innovative financial intermediaries.