Experience on establishing and implementing regulatory sandboxes in the Russian Federation and lessons for Vietnam

Abstract

In recent years, the rapid growth of cutting-edge technologies has brought about innovative and creative products and services that go beyond human expections, thereby boosting the modernization of various areas of society. The Russian Federation is one of the leading nations for this trend. However, the application of such technologies causes many risks, which require the establishment of a special monitoring and controlling mechanism, also known as a “regulatory sandbox”. This article focuses on researching the policies on establishing and implementing regulatory sandboxes in the Russian Federation, and makes recommendations to improve the legal provisions and enhance the efficiency of the implementation of the regulatory sandbox in Vietnam.