The legal status of tokens and their inheritance

Authors

DOI:

https://doi.org/10.17981/juridcuc.16.1.2020.12

Keywords:

Blockchain technology, cryptocurrency, digital technologies, heir, legal status, token

Abstract

This article considers the legal status of tokens, their specifics and distinctive features, as well as the possibility of inheriting this digital asset. The study aims at analyzing the legal nature and classification of tokens, as well as the specifics of their inheritance. While conducting this research, it has been used the methods of collecting and studying singularities, generalization, scientific abstraction, cognition of objective laws, objectivity, specificity and pluralism. It has been concluded that a token is an entry in the transaction block registry (blockchain) or other distributed information systems, which certifies that the token owner is entitled to civil law protections and/or is a cryptocurrency. It has been proved that tokens by their legal nature are digital units of accounting in the participating interest shares of entrepreneurial projects and authorized capitals of any company, digital price analogues of uncertificated securities and other objects of civil law. It has been developed a classification of tokens and emphasized the need to create an electronic data warehouse that contains access codes for these digital assets. After the testator’s death, these codes can be given to the heir by testament or by law in case the testator did not draw up the corresponding testament during their life. These conclusions and suggestions will allow to legally qualify tokens and resolve inheritance issues in this area.

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Author Biographies

Elena Anatolyevna Kirillova, Southwest State University. Kursk (Federation Russia)

Associate Professor, Department of Civil Law, Southwest State University (Kursk, Federation Russia). https://orcid.org/0000-0001-7137-901X

Oleg Evgenyevich Blinkov, Academy of the Federal Penitentiary Service of Russia. Ryazan (Federation Russia)

Doctor of Law, Professor, Department of Civil Law and Procedure, Academy of the Federal Penitentiary Service of Russia (Ryazan, Federation Russia). State University of Humanities and Social Studies (Kolomna, Federation Russia). https://orcid.org/0000-0002-3506-2194

Teymur Zulfugarzade, Plekhanov Russian University of Economics. Moscow (Federation Russia)

Associate Professor, Head of the Department of State and Legal Disciplines, Plekhanov Russian University of Economics (Moscow, Federation Russia). https://orcid.org/0000-0002-0778-1511

Aleksandr Vladimirovich Bocharov, Russian State University of Tourism and Services Studies. Cherkizovo. (Federation Russia)

Associate Professor, Department of Criminal Law and Procedure, Russian State University of Tourism and Services Studies (Cherkizovo, Federation Russia). https://orcid.org/0000-0001-7950-6052

Artur Yashevich Avdalyan, Russian State University of Tourism and Services Studies. Cherkizovo (Federation Russia)

PhD in Law, Associate Professor, Department of Legal Disciplines, Russian State University of Tourism and Services Studies (Cherkizovo, Federation Russia). https://orcid.org/0000-0002-3089-8662

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Published

2020-04-17

How to Cite

Kirillova, E. A., Blinkov, O. E., Zulfugarzade, T., Bocharov, A. V., & Avdalyan, A. Y. (2020). The legal status of tokens and their inheritance. JURIDICAS CUC, 16(1), 287–302. https://doi.org/10.17981/juridcuc.16.1.2020.12

Issue

Vol. 16 No. 1 (2020): Jurídicas CUC 2020

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Articles

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