FINTECH REGULATORY MODEL

Financial technologies, which are rapidly developing both in Ukraine and in foreign countries, today are an integral part of public life and are actively being introduced into all spheres of state functioning. Despite the fact of the dynamic development of the FinTech industry in Ukraine, a comprehensive system of its legal regulation has not been created yet, which can be explained by the economic and informational specifics of both the industry itself and its ramified areas and the lack of a legal definition of the FinTech term, which, in turn, deprives domestic researchers and legal scholars of the very subject of research, legal definition and interpretation. The research carried out in the article is devoted to the FinTech phenomenon and the legal aspects of its regulation in Ukraine. In particular, the scientific study proposes a model of FinTech legal regulation, taking into account current trends in the development of the financial technology industry and the experience of foreign countries in the regulatory framework of the FinTech industry. The article analyzes the current national legislation on the regulation of the FinTech industry and proposes promising regulatory legal acts, the adoption of which is an urgent need for the formation of a high-quality ecosystem of financial technologies in Ukraine. As a result of the study, recommendations were made on the creation of new regulatory bodies subordinated to the Ministry of Digital Transformation of Ukraine and authorized to coordinate the activities of innovative organizations and the development of relevant FinTech areas in the country. The practical value of the study is that the implementation of the provisions proposed in it will create conditions for the effective development and control of FinTech areas in Ukraine, increase the demand for financial services and create opportunities for financial inclusion, which will contribute to the further formation and implementation of state policy in the field of digitalization.