Issue: № 5, 2025
Doi: https://doi.org/10.37634/efp.2025.5.4
The paper reveals the role and issues of legal support for the circulation of virtual assets in Ukraine. It is proven that the existence of virtual assets is a consequence of the development of the digital economy in Ukraine and the integration of domestic digital technologies into the European space. A virtual asset, according to the Law of Ukraine “On Virtual Assets”, which has not yet entered into force, is defined as an intangible good that is an object of civil rights, has value and is expressed by a set of data in electronic form. The law allows the use of a digital asset in civil circulation, that is, a virtual asset is an object of civil circulation. In practice, most owners of virtual assets exchange through intermediaries or directly with counterparties, which contributes to the emergence of risks of losing such assets. Another limitation is that virtual assets are not a means of payment in Ukraine and cannot be exchanged for property (goods), works (services). The features of the use of virtual assets in aggregate significantly increase the public danger of corruption acts in which virtual assets are used. Using virtual assets, criminals can quite easily go to the transnational level, not only to confuse law enforcement agencies, but also to effectively use discrepancies in the legislation of different states and territories. With a significant increase in the use of virtual assets in illegal operations, the level of economic security of the state may be reduced. Based on the analysis, it is proven that the legislation in the field of regulation of virtual assets is at the stage of formation, and therefore requires further improvement, taking into account advanced world experience. It has been proven that the state is in no hurry to bring legal relations in the field of ensuring the circulation of virtual assets in Ukraine to a single denominator. An appropriate level of legislative support for legal relations related to the circulation of virtual assets will increase the level of competitiveness of the digital economy of Ukraine in the 21st century, and will also increase the investment attractiveness of Ukraine for foreign investors, which is a key factor for rebuilding the domestic economy after achieving peace.
Keywords : virtual asset, legal relations, supervision, state control, state regulation, civil law, legal regime of virtual assets, digital assets, cryptocurrencies, corruption, fight against corruption, crime, security
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