Правові аспекти використання NFT-токенів

Hanna ILCHENKO

doi:10.31617/3.2023(127)06

Authors

Hanna ILCHENKO State University of Trade and Economics https://orcid.org/0000-0003-1996-7062

DOI:

https://doi.org/10.31617/3.2023(127)06

Keywords:

crypto-assets, NFT, token, virtual assets, digital assets, non-fungible token.

Abstract

Introduction. Digitization processes, which have covered all areas of the economy and public administration, give impetus to the emergence of new digital tools that can be used by both individuals and entrepreneurs. One such example is non-fungible tokens or NFT.

Problem. The use of virtual assets is a common practice both on a global scale and within Ukraine. However, the lack of state regulation in this area prevents the development of the virtual assets market in Ukraine precisely in the legal field, which results in a lack of significant tax revenues.

The aim of the article is to determine the features of NFT tokens, as a separate type of virtual assets, and to identify the gaps in the legislation of Ukraine regarding the legal regulation of their creation and use.

Methods. The general scientific and special legal methods of cognition became the methodological basis of the conducted research.

Results. Various approaches to understanding and formulating the concept of «NFT-token» are considered from the point of view of representatives of state regulators and practicing lawyers. The process of creating and placing NFTs on the OpenSea platform is described. The problems that need to be solved for the implementation of the Law of Ukraine «On Virtual Assets» have been analyzed, including: the taxation regime of transactions with virtual assets and virtual assets themselves, as well as the peculiarities of financial monitoring of transactions with virtual assets.

It is noted that Ukraine’s obtaining the status of a candidate for EU in 2022 imposes additional obligations on the harmonization of Ukrainian legislation with European legislation.

Conclusions. The adoption of the Law of Ukraine «On Virtual Assets» by the Verkhovna Rada of Ukraine on February 17, 2022 did not solve the problem of legalization of activities with virtual assets, as the law never came into force. Taking into account all the events that have happened in Ukraine since February 24, 2022, there is currently a need to develop a new draft law taking into account the norms adopted by the EU Council of the MiCA Regulation.

Author Biography

Hanna ILCHENKO, State University of Trade and Economics

PhD (Law), Associate Professor, Associate Professor at the Department of International, Civil and Commercial Law

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