CRYPTOCURRENCY AS AN OBJECT OF CROSS-BORDER CIVIL RELATIONS

The article is devoted to the key issues of legal regulation of cryptocurrency, arising from its use in cross-border civil turnover. Examples of legal regulation on the example of Russia, the USA and Germany are analyzed. Different approaches to the definition of the legal nature of cryptocurrency, its place in the system of objects of civil rights in relation to international private legal relations are considered. In this regard, it is highlighted that the most common in the literature are interpretations of the concept of cryptocurrency in terms of liability and property theories, while the most widespread is the concept of attributing cryptocurrency to the category of other property. The existing approaches to the issue of the applicable law to the relations related to the use of cryptocurrency are also considered. The first approach includes the application of the principle of autonomy of will of the parties, which reflects traditional approaches to the conflict of laws regulation of contractual relations. Due to the specifics of the relations in question, some scientists propose to use a different approach, related to the creation of non-state legal regulation. The author concludes that cryptocurrency should be attributed to other property, which, from the perspective of private international law, seems to be the most successful position, because in view of the above, cryptocurrency can be considered as a foreign element in the form of a digital object. We also conclude that, in the context of modern legal regulation of the concept under study, which is not distinguished by the proper detailing or is absent at all, participants in digital cross-border relations in the choice of applicable law should be guided primarily by the traditional conflict of laws binding associated with the autonomy of will of the parties.

cryptocurrency, digital legal relations, legal nature, international legal regulation, applicable law, blockchain technology, digital financial assets, foreign element, autonomy of will of the parties, object of legal relations, other property, digital currency

Brykina S. A. Cryptocurrency as an object of cross-border civil relations. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;2(63):293—297. DOI: 10.25683/VOLBI.2023.63.648.