PREREQUISITES FOR THE EMERGENCE OF DIGITAL STOCKS AS FINANCIAL INSTRUMENTS

Digital financial assets have appeared relatively recently. A new investment instrument may include rights to financial instruments, including shares. To date, many issues related to digital financial assets remain poorly understood, and the issues and problems of those assets that certify rights to shares are practically unexplored in legal theory. The most important question about the legal nature of digital financial assets in the legal doctrine is debatable. At the same time, the law does not provide an unambiguous understanding of the legal nature and raises even more questions. The object of the research is the phenomena of the material and spiritual nature, which indicate the prerequisites for the emergence of financial instruments in their development and connection with other socio-cultural and socio-economic phenomena, as well as written sources, philosophical and legal intellectual thought. The subject of the study is the centuries-old historical process of the emergence and development of financial instruments from simple designs through more complex ones to the current state. The study aims to identify the relationship between financial instruments and digital stocks, as well as digital financial assets in general. The relationship is determined by considering the historical process of formation of financial instruments and digital stocks. The prerequisites for the emergence and patterns of the development of both legal phenomena are revealed. Within the framework of the study, the author’s classification of the prerequisites for the emergence of financial instruments and digital stocks is proposed. The author highlights economic, intellectual, social and other prerequisites for the emergence. In this article, the author defines the ratio of digital shares and financial instruments through the prism of the prerequisites for the emergence of legal phenomena, patterns of development and connections with other phenomena of the material and spiritual nature.

financial instrument, securities, derivative financial instruments, undocumented securities, prerequisites, stocks, digital stocks, digital financial assets, digitalization, patterns of development

Grachev E. S. Prerequisites for the emergence of digital stocks as financial instruments. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;1(66):177—184. DOI: 10.25683/VOLBI.2024.66.906.