What updates are expected in the digital economy

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In 2022, Russia made it clear that the introduction of digital currency into the country’s domestic market is one of the main vectors for the development of the economy. The state is trying to smooth the corners as much as possible, so that at the time of the full introduction of the digital currency into everyday life, the system is fully debugged and can be regulated in order to maximize the comfort and safety of users. The main directions regulating the digital economy of the Russian Federation are: information security, technological sovereignty and digitalization of public administration and business.

Based on the available data, most of the changes affected laws related to the collection, access and storage of personal data, support for the IT sector, its technological security, and the formation and consolidation of databases.

Changes have been made to laws regulating the circulation of personal data and improving technological security. Many changes aimed at supporting IT companies, amendments to the principle of database formation, as well as innovations to control the activities of the market.
Such control in the field of digital technologies will concern not only businesses, but also private users. The main parts affected will relate to the collection, storage and processing of personal data.

One of their innovations is the absence of grounds for refusing to provide services if a citizen decides not to provide their personal data, if their provision is not required by law. Also, government organizations can no longer store biometric personal data, but will transfer them to the Unified Biometric System.
Directed incentive regulation policies are designed to support digitalization, technological sovereignty and the protection of user privacy.
Progress in the field of digital policy is developing by leaps and bounds, but it is too early to talk about a full-fledged breakthrough. At the moment, there are many challenges and difficulties in each direction of the digital market.