Legal Issues of Digital Investments and Principles of International Private Law
Keywords:
Digital investments, private international law, cryptocurrency, conflict of laws, blockchainAbstract
This study explores the complex legal landscape of digital investments, particularly focusing on digital assets such as cryptocurrencies, tokens, and digital securities, which are inherently decentralized and exist across global blockchain networks. The work critically analyzes the challenges these assets pose to traditional private international law (PIL), which is predominantly structured around territoriality and physical presence. In a world where digital assets are not bound by geography, legal uncertainty arises regarding applicable law, competent jurisdiction, and the recognition and enforcement of court and arbitral decisions.The research is grounded in classical legal methodology, employing doctrinal, comparative, and formal legal analysis. A significant portion of the research is devoted to procedural issues—particularly jurisdiction and enforcement—in cross-border disputes. It assesses innovative judicial practices, such as blockchain-based notification and global freezing orders, drawing on the experiences of Singapore and the UK. The study also underscores the relevance of alternative dispute resolution, notably arbitration and mediation, and the role of conventions like the Singapore Convention on Mediation (2019). The regulatory efforts of Uzbekistan are examined in depth as a case study of a developing country’s legal transformation in the digital age. Uzbekistan has taken substantial steps, including the legalization of crypto exchanges, the adoption of KYC measures, and the digitalization of judicial infrastructure. These developments are contextualized within broader international trends toward harmonization and investor protection. Overall, the study emphasizes the urgent need for coordinated international legal reforms to address the regulatory vacuum surrounding digital investments.
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