Public financial control in the context 
of digitalization

Modern financial and legal regulation faces a dual challenge: on the one hand, digitalization creates unique technological opportunities to strengthen financial oversight; on the other hand, cryptocurrencies transform the existing forms and mechanisms of financial control. The introduction of central bank digital currencies (CBDCs) marks a transition of public financial control to a new stage, where supervisory functions become integrated into the very structure of money. The author concludes that digitalization leads to convergence among different forms of financial control. Using the example of currency control, the article examines the transformation of the subjects, objects, and methods of financial oversight. It also proposes legislative amendments to the laws governing the national payment system in light of the Bank of Russia’s planned integration of central bank digital currency platforms and the prospective use of the digital ruble in cross-border transactions.