DIGITAL CURRENCY: RUSSIAN AND CHINESE EXPERIENCE

Abstract

The rapid development of new technologies, such as big data, blockchain, and artificial intelligence, has propelled the digital economy to the forefront of history, necessitating the ability to adapt, keep up with the times, and improve legal regulations.

In 2023, the Russian Federation took significant steps towards the introduction of the digital ruble. Specifically, transactions with the digital ruble were tested for the first time with the participation of real customers, and the State Duma adopted several important legal acts that amend the current legislation and regulate the introduction of the digital ruble in Russia.

However, the swift evolution of digital currencies is not exclusive to Russia, many countries are grappling with the development and implementation of a new form of money. This form aims to simultaneously enhance the transparency and reliability of transactions while contributing to the stability of the national currency.

In this article, we propose to examine the features of legal regulation and the conduct of transactions with digital currency, using the experiences of both the Russian Federation and the People's Republic of China as examples