DOCTRINAL APPROACHES AND INTERNATIONAL EXPERIENCE IN UNDERSTANDING THE DIGITAL ASSET
Keywords:
Abstract
The owner of digital assets considers that he has the characteristics of real property based on the fact that he can own them in the virtual space, use them and then dispose of them with material benefits. In the current legislation of the Republic of Uzbekistan, some gaps need to be eliminated in the legal regulation of digital assets. In particular, it is necessary to clarify and expand the term “digital assets” in the legislation of the Republic of Uzbekistan, to introduce a new classification that divides them into the virtual property (property rights) and virtual personal non-property benefits and rights related to property rights, and to make appropriate changes to their legal regulation. The fact that the concept of “digital assets” or “economic assets” has been expressed in several regulatory documents of foreign countries is considered a good foreign experience for us. There is no legal definition of the term “virtual property”. In addition, the concepts of “digital rights (digital asset)”, “digital object”, “virtual property”, and “virtual game property” should be distinguished from each other. The use of civil law to regulate digital assets remains fragmented, even taking into account future reforms. Shortly, even taking into account the rapid development and integration of blockchain technology, the practice of creating, implementing, and using digital financial assets based on it does not take into account all the functions that digital financial assets can perform. In this article, the author analyzes national and international legal doctrine and experience to determine the legal status of a digital asset in the legislation of Uzbekistan and offers suggestions for improving the national legislation.
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