Digital legislation is being written from scratch. It is absent not only in our country today, there is none anywhere in the world — Sergey Zhigarev, State Duma Committee on Economic Policy, Industry, Innovative Development, and Entrepreneurship .
As of today, the regulatory environment does not take into account the key features of the new economy: high value of intangible assets, blurring borders and extremely low costs for replicating business models, as well as regulatory issues that should have been resolved yesterday: determine the legal nature of new digital assets, identify the subjects of the digital economy, legal force to electronic documents, forms of government regulation of business, regulation of data turnover and access to them in a way that they are protected and at the same time available to address various challenges — Andrey Bugrov, Senior Vice President, Deputy Chairman of the Board of Directors, MMC Norilsk Nickel; Vice President, Interros Holding Company CJSC.
We have no method for legal regulation of blockchain and crypto currency. <...> There are no international standards that would be applied everywhere — Cossar Sohail, Executive Operation Director, Bitlish Ltd..
As of today, there is no unified standard for digital signature in Russia — Sergey Mytenkov, Vice President, Russian Union of Industrialists and Entrepreneurs (RSPP).
The concept of smart contracts needs to be clearly understood, which would allow adding more business logic on top of blockchain and interact more efficiently — Dmitry Ufaev, Chief Executive Officer, Bitfury Russia.