The challenges of regulating digital ecosystems

Abstract

The process of rapid digital transformation of large commercial banks and technology companies has led to a growing interest in the creation of ecosystems around their organizations and brands by other market participants. The lack of a legal framework for regulating ecosystems has led to the emergence of oligopolies and monopolies. The paper provides criteria that can be used to distinguish between digital ecosystems, which should be subject to containment policies, and companies that use digital and IT-solutions in their work. The position of the Ministry of Economic Development on state support for ecosystems and the Central Bank’s approach to regulating financial ecosystems through the introduction of a new instrument - the risk-sensitive limit. The study presents the main problems which need to be solved by the current situation on the national markets. A scenario analysis of different approaches to regulating ecosystems is conducted.

Keywords

• digital ecosystems
• financial ecosystems
• legislative regulation
• monopolization of markets
• attribution criteria
• risk-sensitive limit