Protection of the subjective rights of DFA holders

Abstract

The authors argue that the property claims specified in paragraph 2 of Article 1 of the Law on Digital Financial Assets constitute the essential content of the design of digital financial assets, whereas the design of digital financial assets itself is an innovative technology for fixing relevant property claims in information systems. The legal nature of the rights certified by the design of digital financial assets makes it impossible to apply to relations with digital financial assets such methods of protecting civil rights as self-defense, awarding duties in kind, compensation for moral damage, filing vindication and negatory lawsuits. The use of other methods of protection specified in Article 12 of the Civil Code of the Russian Federation in the framework of relations with digital financial assets implies the need for the owner of digital financial assets (his representative) to contact one or another competent authority with a requirement to compel the offender to behave appropriately. In certain situations concerning digital financial assets, such an appeal may be addressed to the Bank of Russia, which, although not a government agency, is nevertheless endowed with certain regulatory powers in the field of financial markets. As the most promising area of protection of the rights of holders of digital financial assets, the authors consider the development of mechanisms that allow to quickly identify an authorized person who has the right to make transactions with rights certified by the design of digital financial assets, as well as the introduction of restrictions on the disposal of rights certified by the design of digital financial assets, in case of receipt of an application for loss of access or if there is a threat of loss of access of the authorized person to the relevant credentials.