Comparative Legal Analysis of Financial Technologies in the Russian Federation and the People's Republic of China

The purpose of the research. The article discusses the issues of legal regulation of financial technologies in a number of strategic documents. There are analyzed problems that arise in practice that have a special impact on the population of the state. The article reaserches the process of transformation of the Russian legal system in the context of the development of financial technologies. The purpose of the study is to identify the provisions of Chinese legislation that are suitable for their implementation in Russian law. This is necessary to determine the main directions of development of the Russian legislative system in the context of the introduction and use of financial technologies. As a result of the conducted research, the author comes to the conclusion that Chinese legislation is distinguished by the fact that it is universal and applies to the entire field of online finance. The article clearly traces the wait-and-see approach of Chinese law, as well as the division of sectors in the activities of regulators. In Russia, on the contrary, there is a segmentation of regulatory regulation in certain areas of fintech. The two countries have similar problematic aspects in the legal regulation of fintech, and therefore some of them, which are regulated in China, are proposed to be implemented into Russian legislation.