The article presents an analysis of the legal regulation and evolution of the digital financial assets (DFA) market in Russia. The study covers key challenges of its development, including tax barriers, market concentration, fraud risks, and insufficient liquidity. It is shown that after the transition from the experimental stage (2022) to accelerated growth, the market faces systemic constraints that may lead to stagnation without timely implementation of measures on tax base harmonization, creation of a unified platform, and secondary market development. Strategies for overcoming barriers, including legislative, technological, and educational initiatives, are proposed. Particular attention is paid to comprehensive regulation and standardization of the legal framework, since they are critically important for the sustainable growth of the DFA market and its expansion due to non-financial companies.
Пасько et al. (Thu,) studied this question.