The Problems of Crowdsourcing Legal Regulation in Russian Federation

Abstract

In this article the problems of legal regulation of fintech in Russia are considered, special attention is paid to the crowdsourcing, its classification, examples of business models, and the importance of developing alternative financial instruments due to the growing role of information technology in the terms of environment. The actual legal system of Russian Federation is analyzed due to the questions of fintech and traditional financial instruments. The article examines contradictions of laws and legal hurdles. The author suggests generalized measures to eliminate the deficiencies of legislation aimed at the development of fintech in Russia. Keywords: crowdsourcing, crowdfunding, crowdlending, crowdinvesting, legal regulation, problems of legislation