COMPARATIVE ANALYSIS OF THE EVOLUTION OF THE CONCEPT OF DIGITAL ASSETS AND THEIR LEGAL REGULATION

Abstract

In this article, as a result of the rapid development of modern digital technologies and the strengthening of their integration into the global economy, the concept of “digital assets” occupies a central place in the system of international legal relations. At the same time, the relevance of digital assets, the diversity of the concept of digital rights, and the experience of developed countries in the effective regulation of digital assets, as well as views on the impossibility of linking them exclusively to financial instruments, are deeply analyzed. At the same time, the author notes in the article that there are gaps in the current legislation of the Republic of Uzbekistan that need to be eliminated in the legal regulation of digital assets, in particular, the need to clarify and expand the term “digital assets” in the legislation of the Republic of Uzbekistan, introduce a new classification that divides them into virtual property (property rights) and virtual personal non-property benefits and rights related to property rights, and make appropriate changes to their legal regulation. In addition, the article examines the differences between the concepts of “digital rights (digital asset),” “digital object,” “virtual property,” and “virtual game property,” the use of civil legislation to regulate digital assets, as well as the fact that blockchain technology does not take into account all the functions that digital financial assets can perform when recording the practice of creating, implementing, and using digital financial assets based on it. In the concluding part, the author conducted an analysis of national and international legal doctrine and experience aimed at determining the legal status of digital assets in the legislation of Uzbekistan and put forward proposals aimed at improving national legislation.