LEGAL STATUS OF CRYPTO ASSETS

Abstract

This scientific article provides a comprehensive theoretical and practical analysis of the legal status of crypto assets. The study conducts a comparative analysis of existing approaches in legal doctrine regarding the legal nature of crypto assets, particularly views on their classification as property, commodity, currency, or a separate digital legal category. Based on legal and theoretical criteria proposed by the authors, the specific technological and economic features of crypto assets are evaluated, as well as their compatibility with traditional legal institutions. The article analyzes the legal status of crypto assets in international practice, examining how they are recognized as a legal category in the legislation of various countries, their classification, and regulatory definitions (using examples from the USA, European Union, Japan, Singapore, and other countries). The article also explores the Republic of Uzbekistan’s approach to crypto assets, their legal interpretation, and existing regulatory gaps. The research findings indicate that a unified universal approach to the legal nature of crypto assets has not yet been established, but there is a growing global need to create a special legal category for them. The conclusion of the article presents scientific and practical proposals for legal clarification of crypto assets, determining criteria for their classification, protecting investors’ rights, and establishing a stable regulatory and legal environment.