CIVIL LAW NATURE OF DIGITAL FINANCIAL ASSETS
Keywords:
digital financial assets, digital rights, objects of civil rights, uncertificated securities, crypto-assets, distributed ledger, tokenization, legal natureAbstract
The subject of this study is the body of doctrinal and regulatory approaches to determining the civil-law nature of digital financial assets (DFAs) and their place within the system of objects of civil rights. The relevance of the study stems from the absence of a unified doctrinal approach to determining the place of DFAs within the system of objects of civil rights, as well as from differences in their regulatory treatment across individual jurisdictions. The aim of the study is to analyse existing scholarly concepts and legislative approaches to determining the legal nature of DFAs. The study conducts a comparative legal analysis of the regulation of digital financial assets in the Russian Federation, the Republic of Uzbekistan, and the People’s Republic of China. It also examines the principal doctrinal concepts under which digital financial assets are regarded as digital rights, a form of uncertificated securities, objects of absolute digital rights, or a technological form through which traditional property rights exist. The study concludes that there is a need for further development of the theoretical foundations governing the legal regime of DFAs and for the formulation of a more consistent approach to their legal classification.
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