Legal Aspects of Integration and Prospects for Cross-Border Settlements in Digital Financial Assets

The article is devoted to the legal regulation of digital financial assets in Russia and the international practice of initial placement of tokens. Special attention is paid to the analysis of the interaction between issuers and information system operators, as well as the role of the Central Bank in overseeing their activities. The peculiarities of approaches to the legal regulation of foreign countries are highlighted: India, China, Brazil, and the Republic of South Africa, as these countries are members of the BRICS community. The prospects of using CFA in cross-border settlements are considered using the example of the BRICS Bridge initiative. The opinions of scientists and practitioners on the opportunities and challenges of integrating the CFA into international financial processes are presented. The conclusions are formulated on the balance of the legal approach of legal regulation in the Russian Federation in the field of ICO and digital financial asset turnover, based on a clearly regulated interaction between the issuer and the operator of the information system, which ensures a high level of transparency, predictability and protection of investors' interests, as well as on the prospects of creating a BRICS Bridge using CFA in cross-border settlements to strengthen financial independence. the BRICS member countries.