Detailed analysis of the legal nature of the blockchain token

Many investors, when purchasing tokens, began to be actively interested in their legal nature, since there were many cases of fraud in the transfer of ownership of the token itself and the keys to it.

What is the essence of the technical nature of the token?

The blockchain token is a unique transaction identifier. It can perform the function of access to an information resource, and can also provide access to a certain set of rights, since it contains information about this transaction. These rights include the following:

  • the right to own a token;
  • rights to use and dispose of the token;
  • rights to the value of the token, i.e. to:
  • securities;
  • services;
  • work;
  • digital assets and other values embedded in this token.

Blockchain token as an intangible asset

The legislative acts of different countries indicate that a digital asset is not just the blockchain token itself, but the entire information product contained in the form of an admission token, which is based on an information resource derived from the right to a valu.

This reasonable definition of a digital asset as an intangible asset gives its owner grounds for full-fledged accounting and tax accounting of all financial transactions with digital assets in accordance with the current legislation in almost all European countries and the United States.

The essence of the legal component of the balance sheet of digital assets

Speaking about the legal component of the balance sheet of digital assets, it is important to understand that when creating a digital asset, various models for splitting access rights to it can be used, namely:

  1. The creation by the owner of the value of a digital asset, which will be represented as a single admission token. It contains the entire scope of access rights to an information resource, which contains a set of rights to such a value.
  2. Creation by the owner of a digital asset that will be issued in the form of a certain fixed number of access token units without the possibility of its further splitting, providing the volume of access rights, a multiple of the number of such units, and their sum will be the entire volume of rights.
  3. Creation by the owner of a digital asset, which in essence will be similar to the previous one, but other owners of the asset may be given the opportunity to freely split the units of the token according to the parameters they set.

What opportunities for the use of digital assets are allowed by law?

The use of digital assets allows the subjects of legal relations:

  • keep records of any valuables using blockchain technology;
  • calculate the main economic indicators of activity, namely:
  • the volume of output of goods;
  • the cost of production;
  • profit and profitability of activity.

For a more detailed legal analysis by specialists of the legal nature of the token you purchased, as well as legal assistance and proposals for its improvement, please contact Blockchain Consulting. Our experts will answer all your questions.

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