Offences in the sphere of virtual assets turnover and analysis of their qualification
Proposals for amendments to the Criminal Code of Ukraine regarding the qualification of types of offences committed in the field of virtual assets turnover based on current trends, international practices, and analysis of state of Ukrainian legislation.
| Рубрика | Государство и право |
| Вид | статья |
| Язык | английский |
| Дата добавления | 12.02.2024 |
| Размер файла | 82,3 K |
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Thus, all of the articles reviewed focus on an overview of particular offences arising in the course of virtual asset circulation, or they provide a general overview of the topic, but only at a superficial level. They do not provide an in-depth analysis or a detailed description of the mechanism of each specific offence, nor do they contain particular proposals for modifying the Criminal Code of Ukraine to address these challenges. This paper, however, aims to address these shortcomings by offering a reasoned description of each virtual asset-related offence and recommendations on the necessary changes to the Criminal Code of Ukraine.
Conclusions
Thus, considering the above, it can be concluded that virtual assets can be used in various offences or can facilitate the commission of such offences. The anonymity of virtual asset transactions makes them an attractive form of illegal payment. There has been a considerable increase in the number of offences related to the theft of virtual assets. Given the lack of regulation, virtual assets may be classified as “other property” due to their economic value and the possibility of conversion into cash or use as a means of payment for goods and services.
Virtual assets exhibit the economic and legal features of the subject matter of these offences, but determining the physical feature is a more difficult task. In today's information society, property may be intangible. A more progressive interpretation of the object of theft involves considering financial interests and economic value. The growing popularity of virtual assets requires the state to ensure the protection of citizens' rights, including criminal law. Changes in the concept of property include intangible goods, which also require criminal law protection.
Considering virtual assets as an equivalent of property, it can be argued that criminal law should include virtual assets as a new object of criminal law protection, as they are already recognised by judicial practice and society, but not yet consolidated legislatively. As a result of the restrictions imposed by the current criminal law rules, there is a tendency that the range of objects of criminal law protection is not determined by civil law concepts, but rather the growing number of crimes related to virtual assets requires expanding the number of objects of civil rights and amending existing legislation.
Given the scope of this issue, a separate article will continue to consider offences in the field of virtual assets, especially such a broad topic as money laundering through virtual assets, and will also cover the topic of such specific offences arising in the field of ICOs, CBDCs, smart contracts, NFTs, DAOs, and meta-universes.
Research in the field of virtual asset trafficking offences can help to address various issues related to the development of effective methods for detecting, investigating, and preventing these offences. This problem is also an important incentive for the development of innovative technologies that will reduce the possibility of such offences.
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