Public Debt Digital Financial Assets as an Object of Financial-Legal Regulation

In the current economic climate, the scholarly analysis of the legal regulation of public debt digital financial assets-viewed as objects of financial-legal regulation — has become particularly relevant. This importance stems from the need to mobilize additional funds for the state’s budgetary system and the ongoing development of digital financial technologies. The study employed both general scientific and specialized research methods: dialectical, systems, logical, and synthesis-based approaches, as well as formal-legal and comparative-legal analysis. The study concludes that: 1) national legislation concerning digital financial assets and their various types — including debt-based digital financial assets — is currently emerging and evolving; 2) corporate debt-based digital financial assets are the primary type currently developed and regulated; 3) in recent years, as part of an experiment in two constituent entities of the Russian Federation (the Chuvash Republic and the Republic of Crimea), provision has been made for the issuance of debt-based digital financial assets; 4) in recent years, a number of countries (Slovenia, Thailand, the UK) have attempted to issue public debt-based digital financial assets, primarily to test digital financial technologies. The scientific and practical relevance of the study lies in its enabling a critical re-examination of existing theoretical concepts regarding financial assets through the lens of the digitalization of economic relations, as well as in its contribution to the theoretical understanding of practical issues concerning the legal regulation of public debt-based digital financial assets.