Factors affecting the cryptocurrency's shadow component in Russia

Abstract

In the conditions of large segment of the "Shadow" sector of the Russian economy, a special attention should be paid on possible involvement of innovative digital technologies. To study this phenomenon, the author analyzes and systematizes a number of theoretical and empirical studies aimed at considering the causes and factors of cryptocurrency involvement in the shadow economy. It should be noted that in recent year, Russian leadership has proposed a list of measures aimed at legalizing cryptocurrency, some of them are contained in the Government Act approved in the first reading on the introduction of profits tax from transactions with digital currency. The article reviews the factors that have the greatest impact on the cryptocurrency involvement in shadow processes. Using the expert assessments method, it is possible to evaluate a generalized view of the phenomenon under study by identifying the subjective opinion of experts. Within the framework of the applied method, the expert community was asked to evaluate the phenomenon in conventional units and placing the elements in a certain sequence. The purpose of the study is to group and study the growth factors of the shadow economy in the cryptocurrency market. The research is based on opinion of Russian law enforcement officers who have scientific and practical experience in the field under study. The scientific novelty consists in determining the factors and conditions that have the greatest impact on the involvement of cryptocurrency's shadow component in Russia. The result of the study showed a noticeable correlation between the assessments of the two groups of experts which may indicate the correct choice of factors for assessing the shadow component of the cryptocurrency. Further research is seen in determining the weight indicators of the proposed tools for countering the shadow economy in the cryptocurrency market

Keywords

• factor analysis
• cryptocurrency
• digital technologies
• shadow economy
• expert assessment
• questionnaire