A COMPREHENSIVE MODEL OF INTERACTION BETWEEN FINANCIAL MARKET PARTICIPANTS TAKING INTO ACCOUNT BEHAVIORAL FACTORS AND THE CRYPTOCURRENCY REVOLUTION

The study is critical for building a sustainable financial architecture for the 21st century, where technological innovation must be balanced with behavioral realism and regulatory legitimacy. Without solving the research problems — identifying the fundamental trilemma at the intersection of behavioral economics, crypto technologies and regulation — systemic crises like «crypto winter 2022» will be recurrent. A matrix of financial market participants and regulators with legislative binding has been built, taking into account the jurisdictions of the USA, EU and Russian Federation as key examples. A comprehensive model of interaction between financial market participants has been built, taking into account behavioral factors and the cryptocurrency revolution. The model includes actors, motivators, barriers, risks, and interaction dynamics.