Digital Assets in the United States: Legal Aspects

This research investigates specific features of theoretical comprehension and legal regulation of digital assets in the USA. The main objectives are: to study the scientific discussion development and lawmaking process in the field of legal regulation of digital assets in the USA, to analyze topical issues of allocation of competences among US financial regulators (SEC, CFTC, IRS, FINRA, FinCEN) exercised in respect to digital assets (virtual currency), to develop a position on the possibility of adopting the US experience in regulation of a new asset class for the purposes of development of the Russian civil law. The author analyzes approaches to the taxonomy of digital assets, presents a classification of tokens, distinguishes between digital and digitized assets. Special attention is paid to new forms of activities in the crypto-market that require specific legal regulation. On the basis of the analysis of draft laws and theoretical discussion statements, some problematic aspects of the civil regulation of digital assets are identified, peculiarities of allocation of competences among the US financial regulators are highlighted.