The Specifics of the Civil Turnover of Digital Financial Assets

Relevance. Digital financial assets designated in the norms of Russian law as a special segment of digital rights. Currently, the regulatory framework regulating the turnover of digital financial assets is in the process of formation, and the legislation regulating public relations arising in relation to this phenomenon characterized by imperfection and inconsistency.
The purpose of the research is to develop theoretical provisions that contribute to understanding the specifics of civil law turnover of rights classified by the Russian legislator as digital financial assets, which determining the structure of such turnover for using the results obtained in the development of norms regulating legal relations mediated by the electronic virtual environment.
Objectives: to identify the necessary conditions for the participation of legal entities in the turnover of digital financial assets; to determine the elements of the turnover of digital financial assets; to identify the directions for further development of legal regulation of the issues under consideration.
Methodology. When writing the work, author used the methods of analysis and synthesis, the system method, the dogmatic legal method and the method of interpretation of the norms of law.
Results. The author argues that in order to become a subject of turnover of rights certified by the design of digital financial assets, a person must: firstly, have the right to use a hardware and software complex (computer and (or) smartphone with an Internet communication channel) that provides personal access for work in the appropriate information system; and secondly, have a unique code to ensure personalization of himself as a participant in information interaction. This together is a mandatory sign of its civil-digital transaction capacity. A five-element structure of civil law turnover of rights certified by the design of digital financial assets is proposed.
Conclusins. The use of digital technologies mediating the fixation of property rights, their belonging to a certain participant in civil turnover, will steadily expand. The structure of the civil turnover of digital financial assets proposed by the author can be considered as a basis for the development of rules for the exchange of digital financial assets and the improvement of Russian legislation.

1. Tarasov I. V. Industriya 4.0: ponyatie, koncepcii, tendencii razvitiya [Industry 4.0: concept, concepts, development trends]. Strategii biznesa = Business strategies, 2018, no. 6 (50), pp. 57–63.

2. Tapscott D. The digital economy: Promise and peril in the age of networked intelligence. New York, McGraw-Hill, 1996, vol. 1, 376 p.

3. Sannikova L. V., Haritonova Yu. S. Cifrovye aktivy: pravovoj analiz [Digital assets: Legal analysis]. Moscow, 4 Print Publ., 2020. 304 p.

4. Novoselova L., Gabov A., Savel'ev A., Genkin A., Sarbash S., Asoskov A., Semenov A., Yankovskij R., Zhuravlev A., Tolkachev A., Kamel'kova A., Uspenskij M., Krupenin R., Kislyj V., Zhuzhzhalov M., Popov V., Agranovskaya M. Cifrovye prava kak novyj ob"ekt grazhdanskogo prava [Digital rights as a new object of civil law]. Zakon = Law, 2019, no. 5, pp. 31–54.

5. Sadkov V. A. O dualizme ponimaniya kategorij "cifrovye prava" i "cifrovye finansovye aktivy" [On the dualism of understanding the categories of "digital rights" and "digital financial assets"]. Vlast' Zakona = The Power of Law, 2020, no. 4, pp. 188–196.

6. Belov V. A. [The object of subjective civil law, the object of civil legal relations and the object of civil turnover: the content and correlation of concepts]. Ob"ekty grazhdanskogo oborota. Sbornik statej [Objects of civil turnover. Collection of articles]; ed. by M. A. Rozhkova. Moscow, Statut Publ., 2007, pp. 6–77. (In Russ.)

7. Bratus' S. N. O ponyatii grazhdanskogo oborota v sovetskom grazhdanskom prave (doklad na zasedanii Sektora grazhdanskogo prava Vsesoyuznogo instituta yuridicheskih nauk) [On the concept of civil turnover in Soviet civil law (report at a meeting of the Civil Law Sector of the All-Union Institute of Legal Sciences)]. Sovetskoe gosudarstvo i pravo = The Soviet State and Law, 1949, no. 11, pp. 70–72.

8. Vinichenko Yu. V. O sootnoshenii grazhdanskogo i ekonomicheskogo oborota [On the ratio of civil and economic turnover]. Izvestiya Irkutskoj gosudarstvennoj ekonomicheskoj akademii = Proceedings of the Irkutsk State Academy of Economics, 2015, vol. 25, no. 5, pp. 879–887. https://doi.org/10.17150/1993-3541.2015.25(5).879-887

9. Grishaev S. P. Evolyuciya zakonodatel'stva ob ob"ektah grazhdanskih prav [Evolution of legislation on objects of civil rights]. Moscow, SPS "GARANT", 2015. 249 p.

10. Deryugina T. V., Inshakova A. O. Oborotosposobnost' i pravovoj rezhim ob"ektov grazhdanskih prav: sootnoshenie ponyatij [Turnover and legal regime of civil rights objects: correlation of concepts]. Zakony Rossii: opyt, analiz, praktika = Laws of Russia: experience, analysis, practice, 2019, no. 6, pp. 31–34

11. Inshakova A. O. Oborot ob"ektov grazhdanskih prav imushchestvennogo haraktera: osnovnye ponyatiya, vidy, tendencii zakonodatel'nogo razvitiya [Turnover of objects of civil rights of property character: basic concepts, types, trends of legislative development]. Legal Concept = Pravovaya paradigma, 2020, vol. 19, no. 1, pp. 6–15. https://doi.org/10.15688/lc.jvolsu.2020.1.1

12. Karckhiya A. A. Cifrovye prava i pravoprimenenie [Digital rights and law enforcement]. Monitoring pravoprimeneniya = Monitoring of law enforcement, 2019, no. 2 (31), pp. 43–46. https://doi.org/10.21681/2226-0692-2019-2

13. Krivolapova L. V. Grazhdanskij oborot imushchestvennyh prav: teoriya i praktika [Civil turnover of property rights: theory and practice]. Orenburg, Izd. centr OGAU, 2010. 239 p.

14. Suslikova A. V., Pronina Yu. O. Ponyatie grazhdansko-pravovogo oborota [The concept of civil law turnover]. Sovremennaya nauchnaya mysl' = Modern scientific thought, 2017, no. 4, pp. 317–321.

15. Yakovlev A. S. Imushchestvennye prava kak ob"ekty grazhdanskih pravootnoshenij. Avtoref. diss. kand. yurid. nauk [Property rights as objects of civil legal relations. Cand. legal sci. abstract diss.]. Voronezh, 2003. 25 p.

16. Yacenko T. S. Novye podhody k ohrane avtorskih prav v seti Internet v cifrovuyu epohu [New approaches to copyright protection on the Internet in the digital age]. Izvestiya YugoZapadnogo gosudarstvennogo universiteta. Seriya: Istoriya i pravo = Proceedings of the Southwest State University. Series: History and Law, 2020, vol. 10, no. 5, pp. 64–70.

17. Vasilevskaya L. Yu. Token kak novyj ob"ekt grazhdanskih prav: problemy yuridicheskoj kvalifikacii cifrovogo prava [Token as a new object of civil rights: problems of legal qualification of digital law]. Aktual'nye problemy rossijskogo prava = Actual problems of Russian law, 2019, no. 5 (102), pp. 111–119.

18. Belov V. A. Chastnoe pravo. Materialy dlya izucheniya. Vol 2. Problemy obyazatel'stvennogo i dogovornogo prava [Private law. Materials for study. Vol. 2. Problems of obligation and contract law]. Moscow, Yurajt Publ., 2021. 754 p.

19. Fabrichnaya T. B., Martynova Yu. M. Problema nedejstvitel'nosti sdelok [The problem of invalidity of transactions]. Privolzhskij nauchnyj vestnik = Privolzhsky scientific Bulletin, 2015, no. 12-2 (52), pp. 130–132.

20. Novickij I. B., Lunc L. A. Obshchee uchenie ob obyazatel'stve [The general doctrine of commitment]. Moscow, Gosyurizdat Publ., 1950. 416 p.