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Cryptoeconomics
[Криптоэкономика]

Author

Listed:
  • Levashenko, Antonina (Левашенко, Антонина)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Ermokhin, Ivan (Ермохин, Иван)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Zubarev, Andrey (Зубарев, Андрей)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Sinelnikova-Muryleva, Elena (Синельникова-Мурылева Елена)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Trunin, Pavel (Трунин, Павел)

    (The Russian Presidential Academy of National Economy and Public Administration, Gaidar Institute for Economic Policy)

Abstract

Cryptoeconomics is a large new market. Today, the global turnover of cryptocurrency is at around $ 200 billion. In 2017–2018 in the framework of the ICO campaigns, people from Russia attracted a total of $ 2.3 billion, having conducted 311 ICO campaigns. There are new participants in this market: cryptobirds and cryptoexchangers, crypto funds, decentralized organizations conducting ICO-campaigns from different sectors of the economy. The Russian Federation should create favorable conditions for the development of a new sector of the economy. The report examines the main approaches to the definition and essence of cryptocurrencies, analyzes the functions performed by them, as well as the challenges that the emergence of cryptocurrencies forms for the traditional financial system and monetary policy. In addition, a comparative analysis of the regulation of this new sector of the economy in the OECD countries and the Russian Federation is presented, and recommendations are given to bring Russian legislation in line with international best practice.

Suggested Citation

  • Levashenko, Antonina (Левашенко, Антонина) & Ermokhin, Ivan (Ермохин, Иван) & Zubarev, Andrey (Зубарев, Андрей) & Sinelnikova-Muryleva, Elena (Синельникова-Мурылева Елена) & Trunin, Pavel (Трунин, Пав, 2019. "Cryptoeconomics [Криптоэкономика]," Published Papers 021913, Russian Presidential Academy of National Economy and Public Administration.
    • Handle: RePEc:rnp:ppaper:021913
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    Cited by:

    1. Vladimir A. Mau, 2019. "Global trends and national goals: Russia approaches a new model of economic growth," Russian Journal of Economics, ARPHA Platform, vol. 5(1), pages 27-45, April.

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