INSTITUTIONAL MECHANISM FOR THE DEVELOPMENT OF THE DIGITAL FINANCIAL ASSETS MARKET

Using a systemic view of the development of any industry helps to increase operational efficiency, stability of relationships and protection of the interests of participants. In the context of the digital financial assets market, this is due to the fact that a systemic approach, firstly, allows you to analyze the relationships between various market elements and create effective development strategies. Secondly, it provides the opportunity to identify and manage risks such as: violation of financial stability, fraud, money laundering, ultimately ensuring market stability and reliability. Thirdly, generalization of information about participants in economic relations resulting from the circulation of digital financial assets makes it possible to develop and implement appropriate rules and procedures to ensure the protection of the interests of issuers and investors, as well as the prevention of illegal actions. In the article, the authors consider a model of the institutional mechanism for the development of the digital financial assets market, presented in the form of a system of relationships between market entities at the macro, meso and micro levels. The presented mechanism is based on three blocks that determine the goals and interests of the main groups of subjects, formal and informal norms and rules in the economic community, as well as the effectiveness of the mechanism as a whole. A set of performance indicators is proposed as target indicators, allowing quantitative assessment of the results of achieving goals at each level of market development. The proposed institutional mechanism aims to ensure stability, efficiency and fairness in economic relations using digital financial assets, serving as a fundamental organizational and regulatory factor.

digital financial assets, digital currencies, organizational and economic mechanism, institutional mechanism, target indicators, digitalization, financial market, uncertificated securities, fintech, regulation, rules, strategy

Bolvachev A. I., Akhvlediani Yu. T., Koshelev K. A. Institutional mechanism for the development of the digital financial assets market. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;1(66):13—17. DOI: 10.25683/VOLBI.2024.66.861.