Development of the Digital Financial Assets Market in Russia: Trends, Prospects, Threats and Risks of Money Laundering

This article presents the results of a study examining the evolution and current state of the digital financial assets market in Russia. The study aims to identify key trends and development prospects for Russia’s digital financial assets market, assess emerging risks and threats, and propose measures to prevent fraud and money laundering. The research was conducted using general scientific methods, including economic statistics, econometrics, and economic analysis. The following market development trends have been identified for 2023–2025: exponential but volatile growth; low trust; a structural shift towards institutional investors; increasing importance of short-term funding; market oligopolization; a simple product range; and a gradual expansion of the legal framework and market opportunities. The study substantiates several key trends: rising issuance volumes, a growing number of real-economy issuers, increased competition and differentiation among information system operators, intensifying rivalry among issuers, the emergence of a secondary market, an expanding investor base, product line diversification, and the evolution toward more sophisticated tokenization practices. The original contribution of the research lies in its comprehensive and advanced analysis of the Russian digital financial assets market. It identifies core development trajectories, categorizes emerging risks by their potential market impact, and formulates recommendations to strengthen accountability. The findings provide a practical foundation for designing regulatory frameworks and control systems for the issuance and circulation of new asset types.

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