Choice of Law for Utilitarian Digital Rights Regulation

Digital rights are increasingly becoming the subject of legal research. At the same time, from a practical point of view, research in the field of legal regulation of utilitarian digital rights is of greatest interest since it is this type of asset that is most often issued in ICO. Given tokens is a cross-border phenomenon and, as a rule, tokens are freely available to foreign investors, it is crucial that legal regulation of this area be considered in terms of private international law. For example, it is interesting that utilitarian digital rights have different names and legal content in different jurisdictions. Therefore, the definition of the applicable law plays a significant role in the legal regulation of cross-border circulation of utilitarian digital rights. In this paper, the author considers existing approaches to determining the legal nature of utilitarian digital rights, and develops an algorithm for determining the law applicable to transactions with utilitarian digital rights, taking into account various legal factors. 

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