Analysis of regulatory initiatives of supporting financial innovations and recommendations for working with startup

the article presents a comprehensive analysis of modern approaches to regulating the fintech industry internationally and develops practical recommendations for creating an effective support system for fintech startups in the Russian Federation. Objective: to identify optimal regulatory and financial mechanisms that foster innovation in the financial sector while ensuring market stability and consumer protection. The main tasks included: a comparative analysis of regulatory models (China, UK, EU, USA) and the experience of leading fintech companies (Ant Group, Revolut, Chime, Nubank); an assessment of existing state support measures for startups in Russia; and the development of a detailed "regulatory sandbox" model as a key tool for stimulating innovation. Methods: The methodological basis comprised institutional, comparative legal, and economic analysis methods. Results: comprehensive sandbox model, including participant selection criteria, benefits (tax, regulatory, administrative, financial), consumer protection mechanisms, exit stages, as well as an assessment of necessary funding and expected economic effects (growth in the number of startups, investment inflow, job creation). Recommendations for financial (grants, concessional lending, stimulation of venture investments), regulatory (licensing simplification, legal regulation of digital assets) and educational measures (improving financial literacy, integrating fintech into educational programs) were separately developed to foster a favorable innovation ecosystem. Conclusion: based on the results of the study, the practical significance of the work lies in the applicability of the proposed mechanisms by government authorities (Bank of Russia, Ministry of Economic Development) and development institutions (Skolkovo, RFRIT) when developing and improving policies to support fintech innovations, as well as by fintech startups when planning their activities in a regulated market.

fintech regulation, regulatory sandboxes, fintech startups, state support, innovation ecosystem, financial literacy, technological sovereignty, digital financial assets, development institutions