Photo from the source

The concept and legal nature of virtual currencies in Japan

Japan is one of the first countries to legally recognize virtual currencies.

Experts explain the surge in interest in cryptocurrencies in Japan by a number of factors: the existence of legal regulation of cryptocurrency exchanges (by the Financial Services Agency) since 2016, a stable yen (speculators are looking for money on volatile assets), and the convenience of cryptocurrencies in settlements (Japan is a large exporter).

Amendments made to the Law of June 24, 2009, № 54 of 1999 “On payment services” (hereinafter — the Law on payment services), which entered into force on April 1, 2017, the legislator created an…


Photo from the source

Business contracts as contracts that have certain features in terms of the conclusion, execution, termination, grounds, and procedure for bringing to civil liability, have repeatedly become the object of various scientific discussions. The subject matter of the agreement, in which only business entities participate — commercial legal entities, individual entrepreneurs, non-commercial legal entities engaged in entrepreneurial activity, predetermined a special scientific and practical interest in such transactions.

Recent changes in the economy and social sphere of society have confirmed the need for further improvement of approaches to business contracts. Among them, the most important is the need for the greatest…


Photo from the source

In recent years, there has been widespread use of blockchain-based smart contracts in various financial and property sectors. By greatly simplifying the economic turnover, the potential efficiency and profitability arise from the fact that smart contracts use software to perform certain tasks through automated processes, minimizing the involvement of intermediaries and, therefore, significantly reducing transaction costs. The wide distribution of new technologies always gives rise to various problems, and legislation is often not adapted to the pace of socio-economic changes in the state. Despite the positive side of such technological development, the consequences may entail certain dangers for the participants…


https://imba-exchange.co

Crypto enthusiasts can choose convenient and interesting tools in the vast ecosystem of IMBA-Exchange, which are constantly updated and new features are added. The IMBA-Exchange management always listens to the wishes of the community, and therefore, adding a new, but very simple tool Metronix Pool, we decided to make a small step-by-step instruction on its use.

Metronix Pool is the mechanism of profit-sharing among users of the Metronix Platform.
In order to receive dividends, users only need to freeze MEOX Tokens on metronix.imba-exchange.co. …


Photo from the source

In the context of the transformation of the economy, attracting investments using traditional financial instruments is becoming more and more difficult — for most companies, the opportunity to attract financing through the use of classical instruments is limited or impossible (small and medium-sized businesses now have less access to bank lending, access to the exchange infrastructure, etc.) ). The main reasons are the tight regulation of the market, a large number of intermediaries, high costs of issuing and placing financial instruments. So, for example, to work with classic stock market instruments, the status of a qualified investor is required, it…


Check out our new platform 👉 https://thecapital.io/

Photo from the source

In 2019, in order to create attractive conditions for the development of the Fintech sector in Singapore, the Payment Services Law was adopted, which consolidated the definition of cryptocurrency (digital payment tokens) and the procedure for its circulation. In addition, this Law established the criteria to distinguish payment tokens from other virtual objects — securities tokens, utility tokens, game currencies. The article analyzes the concept of digital payment tokens as a digital representation of value, considers the rules for making transactions with them. It is concluded that the use of such an approach minimizes difficulties in regulating the turnover of…


Photo from the source

Legal regulation of cryptocurrencies and blockchain technologies in Italy.

Italy is one of the few countries in the world where cryptocurrencies and blockchain technologies are regulated at the legislative level. In 2017, Legislative Act № 90 was issued, according to which service providers in the cryptocurrency market are classified as ordinary currency exchange operators. In other words, we can say that this document equates cryptocurrency with traditional currency. In addition, this Act directs the Ministry of Finance and Economy to issue a decree that would regulate the mechanism of operations with cryptocurrency, the work on which was completed on February 2, 2018. In it, the Italian government expressed the…


Check out our new platform: https://thecapital.io/

Photo from the source

States cannot but react to how rapidly modern financial technologies are developing. They are used to minimize risks, optimize trading, banking, and other transactions, and, accordingly, in a certain way affect the existing legal relationship. It cannot be argued that such influence has only positive properties: even if a smart contract is used during a transaction, situations of damage to one or another person are possible. …


Check out our new platform: https://thecapital.io

Photo from the source

Spoiler.

In this article, we will analyze various arguments about the legal nature of the token. As a result, we come to the conclusion that the token is a conditional virtual symbol of the object of law in cyberspace, which continues to exist in the real world either in the form of a thing, or in the form of a right of claim, or in another form. The individualization of the token is carried out by fixing this token (object of civil law) to the corresponding person in a way that is determined by the protocol used on the blockchain platform


Check out our new platform — https://thecapital.io/

Photo from the source

The modern international circulation of hydrocarbons is becoming more and more autonomous and decentralized. This is facilitated not only by the introduction of such network technologies as smart contracts and blockchain platforms into contractual practice but also by the widespread use of sources of non-governmental regulation (lex petrolea). In the context of the network paradigm of private international law, the classic problem of the conflict of laws is aggravated. We will consider the conflict aspects of the use of smart contracts based on blockchain technology in cross-border oil and gas transactions, taking into account that the use of computer algorithms…

IMBA-Exchange

IMBA-Exchange is a new exchange for trading digital assets (cryptocurrencies), which is created to unite people around the world.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store