To the problem of the civil-legal concept of cryptocurrency: its definition and qualifying features

Recommended link to article:

ALES V. KONTSEVOY^а

^аLegalTech Corporation

DOI: 10.22394/2070-8378-2022-24-1-60-62

Abstract:
The article examines the economic and legal nature of cryptocurrency as an object of civil rights. The article analyzes the current problems of the civil law mechanism for fulfilling obligations in the sphere of digital rights turnover. The system of characteristic features of the cryptocurrency is revealed. To clarify and integrate doctrinal, legislative and law enforcement approaches, the author proposes a definition of cryptocurrency based on its qualifying features. The author defines cryptocurrency as a transferable complex thing within a given specific digital system, which is characterized by both material signs of money, currency values and information, and legally significant qualities of the property, digital and intellectual rights, and intangible benefits (business reputation). Currently, it is necessary to sыolve the problem with the lack of theoretical, legislative, and law enforcement approach to the concept of cryptocurrency and the systematization of its qualifying features. The legal definition of cryptocurrency will serve as a methodological basis for the effective legal regulation of relations both in the specialized market of digital financial instruments and relations in the rapidly developing sphere of digital rights, which is necessary for economic growth and serves as an institutional basis for the digital economy and the state.

Keywords:
objects of civil rights, cryptocurrency, property rights, digital rights, money, currency values, business reputation, intellectual rights, information

Received:
December 19, 2019

References:
Andryushin S.A. Monetary systems: from origins to cryptocurrency. Moscow: Sam poligrafist, 2019. In Russian
Eremenko A.S. The issue of civil relationships’ legal classification: competition and conflict of civil law norms. Pravo i obrazovaniye. 2011. No. 7. P. 64–73. In Russian
Maksurov A.A. Cryptocurrencies and legal regulation of their circulation. Moscow: Dashkov i K, 2018. In Russian
Paragina N.N. Protecting the right to business reputation of legal entities and individual entrepreneurs under the civil legislation of the Russian Federation: Dissertation of the candidate of legal sciences: 12.00.03. Omsk, 2017. In Russian

Articles in Open Access mode are published under the Creative Commons Attribution 4.0 International (CC BY) license.