Russia’s regulatory sandbox and the implementation of blockchain tech

The main challenge companies face when testing and implementing innovative technologies is the need to amend existing legislation. Developing and testing new products based on distributed ledger technology requires special conditions that are often inconsistent with existing regulations.

The solution to this problem would be the introduction of a special “regulatory sandbox” regime. It means the creation of an ecosystem within which companies and state-owned enterprises can test their developments without legislative obstacles.

Maxim Rukinov is head of the Distributed Ledger Technologies Center at St. Petersburg State University. He has a law degree and a Ph.D. in economic sciences. Maxim specializes in investment portfolio management and financial analysis. His expertise is confirmed by the MIT Sloan School of Management. He has also authored scientific publications on economic security and the impact of sanctions on the Russian economy.