The legal regime of digital assets in the context of European standards
Abstract
The subject of the research is civil legal relations arising in relation to digital assets, with the chosen topic also defined. The aim of the research is to determine the compliance/non-compliance of the legal regime of digital assets established by Ukrainian legislation with the standards of European Union law. Using a comparative legal method, it is substantiated that the traditional domestic understanding of the legal regime of property fully aligns with European standards. This factor, considering the signed Association Agreement between Ukraine and the European Union, the need to harmonize national law with European standards, demonstrates the relevance and scientific novelty of the work.
It is established that the term “ownership” used in Article 1 of Protocol 1 to the European Convention on Human Rights is identical in meaning to the traditional domestic legal term “property”. The concept of property itself encompasses not only tangible things but also property rights and obligations. The idea has further developed that the fact of belonging an economic good to a person can be legally formalized not only by ownership rights but also by other rights (property rights, obligations, intellectual property rights, etc.). The institution of property law in countries with a civil law system regulates relations concerning objects of the material world and is limited to that.
It is concluded that establishing or extending the regime of ownership rights to intangible goods cannot comply with European standards, at least for countries with a pandect system of law. The results of the research indicate the need for further studies on the legal regime of digital assets established by Ukrainian legislators to assess its compliance with European standards and to improve domestic civil legislation.
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