TYPES OF VIRTUAL ASSETS AND THEIR SIGNIFICANCE FOR ADMINISTRATIVE AND LEGAL REGULATION

Abstract

The article examines the main approaches to the classification of virtual assets and their significance for the formation of an effective system of administrative and legal regulation of the circulation of such assets. International and national approaches to defining the concept of a virtual asset, as well as the peculiarities of its legal nature in modern law, are analysed. Particular attention is paid to the provisions of the European Union Regulation on Markets in Crypto-Assets (MiCA), the recommendations of the Financial Action Task Force and the approaches applied in international practice regarding the classification of crypto-assets. The article considers technological, functional and regulatory approaches to the classification of virtual assets. The peculiarities of cryptocurrencies, tokens, stablecoins and non-fungible tokens are analysed, and their main functions within the digital economy are determined. It is noted that virtual assets may perform payment, investment, utility and other functions, which necessitates the application of differentiated approaches to their legal regulation and state supervision. Attention is focused on the fact that the classification of virtual assets is important for determining the legal regime of the relevant assets, forming mechanisms of state control and applying financial monitoring measures. It has been established that the absence of a unified approach to the classification of virtual assets complicates the formation of an effective system of administrative and legal regulation of their circulation and creates legal uncertainty in the functioning of the digital asset market. The necessity of further improving approaches to the systematisation of virtual assets, taking into account their technological, economic and legal characteristics, is substantiated.