Digital assets as an object of civil rights: an attempt to qualify in the absence of a special legal regime

The article provides a comprehensive study of digital assets as emerging objects of civil rights, which have arisen due to the rapid development of information technologies. The focus is placed on the issue of the legal qualification of digital assets, particularly cryptocurrencies, tokens, NFTs, and other forms of digital property, within the framework of current Ukrainian civil legislation. It is emphasized that, in the context of the digital transformation of society, there is a need to understand new forms of value that have both economic and legal significance but do not fit into traditional categories of property or contractual rights. Legislative approaches to defining the legal regime of digital assets in foreign jurisdictions, particularly in the European Union, the United States, the United Kingdom, and Switzerland, are analyzed. At the same time, certain provisions of the Law of Ukraine «On Virtual Assets» are discussed, with an emphasis on their limitations in regulating the civil law aspects of digital asset circulation. The article highlights the problem of the lack of a clear legal definition and classification of such assets within the system of civil rights objects, which complicates law enforcement and the protection of the rights of participants in digital legal relations. Attention is drawn to the necessity of considering the specific characteristics of the circulation of digital assets, methods of acquiring and terminating rights to them, as well as the possibility of using them as collateral, inheritance, or subject matter of contracts for sale, exchange, gift, etc. Special attention is given to the analysis of judicial practice, in which approaches to the qualification and protection of digital assets within the national legal framework are gradually being formed. The author emphasizes the importance of an interdisciplinary approach to studying this phenomenon, which has not only legal but also economic, technological, and ethical dimensions. It is noted that adapting civil legislation to digital realities, taking into account the dynamism of the digital asset market, is essential to ensure an appropriate level of legal regulation and the protection of the rights of participants in the digital economy. This approach will enable the formation of a unified concept of digital property within the system of civil law.

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Publication Details

Journal
Analytical and Comparative Jurisprudence
Published
2025-06-24
DOI
https://doi.org/10.24144/2788-6018.2025.03.1.50
Citations
1
Primary Topic
Security, Politics, and Digital Transformation
Type
article
Field-Weighted Citation Impact
8.52
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article

Digital assets as an object of civil rights: an attempt to qualify in the absence of a special legal regime

Nataliia Fedosenko
1 citations
Analytical and Comparative Jurisprudence
Security, Politics, and Digital Transformation
8.52
article

Digital assets as an object of civil rights: an attempt to qualify in the absence of a special legal regime

Nataliia Fedosenko
article en
1 citations

Abstract

The article provides a comprehensive study of digital assets as emerging objects of civil rights, which have arisen due to the rapid development of information technologies. The focus is placed on the issue of the legal qualification of digital assets, particularly cryptocurrencies, tokens, NFTs, and other forms of digital property, within the framework of current Ukrainian civil legislation. It is emphasized that, in the context of the digital transformation of society, there is a need to understand new forms of value that have both economic and legal significance but do not fit into traditional categories of property or contractual rights. Legislative approaches to defining the legal regime of digital assets in foreign jurisdictions, particularly in the European Union, the United States, the United Kingdom, and Switzerland, are analyzed. At the same time, certain provisions of the Law of Ukraine «On Virtual Assets» are discussed, with an emphasis on their limitations in regulating the civil law aspects of digital asset circulation. The article highlights the problem of the lack of a clear legal definition and classification of such assets within the system of civil rights objects, which complicates law enforcement and the protection of the rights of participants in digital legal relations. Attention is drawn to the necessity of considering the specific characteristics of the circulation of digital assets, methods of acquiring and terminating rights to them, as well as the possibility of using them as collateral, inheritance, or subject matter of contracts for sale, exchange, gift, etc. Special attention is given to the analysis of judicial practice, in which approaches to the qualification and protection of digital assets within the national legal framework are gradually being formed. The author emphasizes the importance of an interdisciplinary approach to studying this phenomenon, which has not only legal but also economic, technological, and ethical dimensions. It is noted that adapting civil legislation to digital realities, taking into account the dynamism of the digital asset market, is essential to ensure an appropriate level of legal regulation and the protection of the rights of participants in the digital economy. This approach will enable the formation of a unified concept of digital property within the system of civil law.

Analytical and Comparative JurisprudenceVol. 1(3)
Weatherford College (US)
Openalex Percentile: Top 4%
Security, Politics, and Digital Transformation
8.52
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