Blockchain and Private International Law:
This book brings together expert views that, taken together, speak to the desirability, necessity and feasibility of unified rules to resolve Private International Law issues arising in the context of the digital economy
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Boston
BRILL
2023
|
| Ausgabe: | 1st ed |
| Schriftenreihe: | International and Comparative Business Law and Public Policy Series
v.4 |
| Online-Zugang: | DE-2070s |
| Zusammenfassung: | This book brings together expert views that, taken together, speak to the desirability, necessity and feasibility of unified rules to resolve Private International Law issues arising in the context of the digital economy |
| Beschreibung: | Description based on publisher supplied metadata and other sources |
| Beschreibung: | 1 Online-Ressource (807 Seiten) |
| ISBN: | 9789004514850 |
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| 245 | 1 | 0 | |a Blockchain and Private International Law |
| 250 | |a 1st ed | ||
| 264 | 1 | |a Boston |b BRILL |c 2023 | |
| 264 | 4 | |c ©2023 | |
| 300 | |a 1 Online-Ressource (807 Seiten) | ||
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| 490 | 0 | |a International and Comparative Business Law and Public Policy Series |v v.4 | |
| 500 | |a Description based on publisher supplied metadata and other sources | ||
| 505 | 8 | |a Intro -- Contents -- Illustrations -- Figures -- Tables -- Notes on Contributors -- Introduction: The Blockchain as a Challenge to Traditional Private International Law -- 1 Blockchain as a Global Information Register -- 2 The Distribution of Information and Assets All over the Planet -- 3 The Lack of Choices regarding the Applicable Law and the Competent Forum -- 4 The Characterisation Problem -- 5 Finding Appropriate Connecting Factors -- 6 Dispute Resolution -- 7 The Increasing Fragmentation of Conflicts Rules with Regard to the Blockchain -- 8 Outlook -- 1 The Role and Prospects of Private International Law Harmonisation in the Area of DLT -- 1 Introduction1 -- 2 Context -- 2.1 What is DLT? -- 2.2 Characteristics of DLT That Impact PIL Considerations -- 3 PIL Challenges Brought on by DLT Applications -- 3.1 Terminology -- 3.2 Applicable Law and Choice of Law -- 3.2.1 Characterisation -- 3.2.2 Connecting Factors -- 3.2.3 Party Autonomy -- 3.2.4 Revision and Use of Existing Frameworks to Determine the Applicable Law -- 3.3 Jurisdiction and Choice of Court -- 3.4 Recognition and Enforcement -- 4 Case Studies: PIL Considerations in DLT Use Cases -- 4.1 Tokenisation -- 4.1.1 Asset Tokenisation -- 4.1.2 Non-Fungible Tokens -- 4.1.3 Global Value and Supply Chains -- 4.1.4 Soulbound Tokens (SBT s) -- 4.2 Digital Currencies -- 4.2.1 Central Bank Digital Currencies (CBDC s) -- 4.2.2 Stablecoins -- 4.2.3 Cryptocurrencies -- 4.3 Cloud Economies and Metaverses -- 4.4 Decentralized Autonomous Organisations (DAO s) -- 5 Role of PIL Harmonisation in DLT - Why Harmonise? -- 6 Prospects for the Harmonisation of PIL in DLT -- 7 Conclusion: Looking to the Future -- Part 1 Fundamental Questions -- 2 Technical Description of DLT for Conflicts Lawyers -- 1 Purpose of this Chapter -- 2 Key Elements of Blockchain -- 2.1 Block and Chain Structure | |
| 505 | 8 | |a 2.2 P2P and Consensus Mechanisms -- 2.3 Cryptography -- 2.4 Permissionless and Permissioned Blockchain -- 3 Some Use Cases -- 3.1 Bitcoin -- 3.2 Securities -- 3.3 Non-Fungible Tokens -- 3.4 Electronic B/L and Other Use of Blockchain Technology for Business -- 3.5 Smart Contracts and DAO -- 4 Conclusion -- 3 Should Crypto-Asset Regulation Be Technology-Neutral? -- 1 Introduction -- 2 The Case for Technology-Neutrality -- 2.1 Future-proofing -- 2.2 Impartiality -- 2.3 Functional Equivalence -- 2.4 Hidden Motivations -- 3 Implications for Legislation -- 3.1 Naming Legal Objects -- 3.2 Designing Technology-Neutral Rules -- 3.3 Implications for PIL -- 4 Conclusion -- 4 Is Bitcoin out of Reach for Private International Law? -- 1 Introduction -- 2 The Applicability of PIL to Bitcoin -- 2.1 The Thesis of a Self-Regulation of Legal Relationships Involving the Use of Bitcoins -- 2.2 The Existence of Hurdles to the Implementation of PIL -- 3 The Application of PIL to Bitcoins -- 3.1 Bitcoin as an Asset -- 5 Proprietary Rights in Digital Assets and the Conflict of Laws -- 1 Digital Assets and Other Digital Phenomena -- 2 Crypto Assets - The General Background -- 2.1 Distributed Ledger Technology (DLT) -- 2.2 Endogenous and Exogenous Tokens -- 2.3 The Necessity of Assigning Proprietary Rights in Crypto Assets -- 3 Special Conflict Rules for Proprietary Rights in Crypto Assets -- 3.1 Selected National Legislation -- 3.1.1 Liechtenstein -- 3.1.2 Switzerland -- 3.1.3 Germany -- 3.1.4 United States -- 3.2 Proposed Legislation and Soft Law -- 3.2.1 The Proposed EU Regulation on Third Party Effects of Assignments of Claims -- 3.2.2 ELI Principles on the Use of Digital Assets as Security -- 3.2.3 UNIDROIT Work in the Field -- 3.2.4 HCCH Work in the Field -- 4 Use of DLT for Traditional Classes of Assets -- 4.1 Central Bank Digital Currencies (CBDC) | |
| 505 | 8 | |a 4.2 Tokens Qualifying as Electronic Money -- 4.3 Tokens Qualifying as Financial Instruments -- 4.3.1 Traditional Rules for Intermediated Securities -- 4.3.2 When Do Intermediated Digital Assets Qualify as Intermediated Securities? -- 5 The Law Applicable to Proprietary Interests in Tokens beyond Existing Conflict Rules -- 5.1 Special Conflict Rules for Exogenous Tokens? -- 5.1.1 The Law Governing the Effects of Tokenisation as Such -- 5.1.2 The Law Governing Proprietary Rights in the Digital Asset -- 5.2 Connecting Factors Focusing on the Parties Involved -- 5.3 Connecting Factors Focusing on the Digital Assets -- 5.3.1 Lex Libri Siti -- 5.3.2 Elective Situs -- 5.3.3 LIMA -- 5.3.4 PROPA and PREMA -- 5.3.5 Other -- 5.4 Discussion -- 6 Summary -- 6 The Good, the Bad and the Ugly: The Private International Law -- 1 Introduction -- 2 Pseudonymity -- 2.1 Public versus Private Distributed Ledgers -- 2.2 Pseudonymity versus Anonymity -- 2.3 The Influence of Centralised Third Parties -- 2.3.1 Wallets -- 2.3.2 Financial Intermediaries -- 2.3.3 Conversion into Fiat Currencies -- 2.4 Anti-Money Laundering Requirements -- 2.5 Intermediary Conclusion -- 3 Transacting on Distributed Ledgers -- 3.1 On-chain Only -- 3.2 Off- and On-chain -- 3.3 Possible Problems -- 3.4 A Concrete Example: DeFi Scams -- 4 The Impact on PIL -- 4.1 Tort -- 4.2 Contractual Relations -- 4.2.1 Choice of Law -- 4.2.2 Absence of Choice of Law -- 4.2.3 Intermediary Conclusion -- 5 A Problem Greater than PIL -- 6 Conclusion -- Part 2 Blockchain Assets and Conflict of Laws: General Issues -- 7 Taxonomy and Characterisation of Crypto Assets in Private International Law -- 1 Introduction -- 2 Taxonomy of Crypto Assets -- 2.1 Common Characteristics of Crypto Assets -- 2.2 Possible Criteria for a Taxonomy of Crypto Assets -- 2.3 A Taxonomy of Crypto Assets for PIL. | |
| 505 | 8 | |a 3 Characterisation of Crypto Assets -- 3.1 What is Characterisation? -- 3.2 The Characterisation of Crypto Assets within Different Areas of PIL -- 3.2.1 The Characterisation of Crypto Assets within Contractual Relations -- 3.2.2 The Characterisation of Crypto Assets within Non-Contractual Relations -- 3.2.3 Special Conflict-of-Laws Rules for Special Legal Objects: Crypto Assets as Personal Data? -- 3.2.4 The Characterisation of the Transfer of Crypto Assets -- 3.2.5 The Characterisation of Crypto Assets as Securities -- 3.2.6 The Characterisation of Crypto Assets as Currency -- 3.2.7 The Characterisation of Crypto Assets in Insolvency and Succession -- 4 Conclusion -- 8 Crypto Assets and Decentralised Ledgers: Does Situs Actually Matter? -- 1 Preliminary Matters -- 2 When Situs Won't Matter -- 2.1 Characterisation -- 2.2 E v A: Contracts -- 2.2.1 Governing Law and Jurisdiction Clauses -- 2.2.2 Absence of Party Choice -- 2.2.3 Consumer Contracts under EU Law -- 2.3 Fetch.AI Ltd v Persons Unknown: Tort -- 2.4 Ion Science v Persons Unknown: Trusts and Property -- 2.5 Conclusions -- 3 When Situs Will, Actually, Matter -- 3.1 The Outright Proprietary Claim -- 3.2 England and Wales -- 3.2.1 Jurisdiction -- 3.2.2 Lex Causae -- 3.3 The EU -- 3.3.1 Jurisdiction -- 3.3.2 Lex Causae -- 3.4 Conclusions -- 4 A Broader Criticism of Situs as a Connecting Factor -- 4.1 The Rules of PIL Change Over Time -- 4.2 The Rules of PIL Are Not Absolute -- 4.3 Other Possibilities: Is It Time Situs Was Unseated? -- 4.3.1 Reforms to National Property Laws -- 4.3.2 Clarification on EU Law -- 4.3.3 An International Solution -- 5 Conclusions -- 9 The Law Applicable to Crypto Assets: What Policy Choices Are Ahead of Us? -- 1 Introduction -- 2 An Overview of Crypto Assets -- 2.1 Key Features of Crypto Assets -- 2.2 Current Crypto Assets Landscape | |
| 505 | 8 | |a 3 Characterisation of Crypto Assets -- 3.1 Crypto Assets as Money or Legal Tender -- 3.2 Crypto Assets as Property -- 4 Defining the Scope of Choice-of-Law Rules or Instruments -- 4.1 Technological Neutrality -- 4.2 Different Legal Aspects of Crypto Assets and Scope Rules -- 4.2.1 Crypto Assets as Representations -- 4.2.2 Interplay in the Existing Choice-of-Law System -- 5 Policy Choices in Developing Suitable Connecting Factors -- 5.1 Freedom of Choice -- 5.2 Applicable Law in the Absence of Choice -- 5.2.1 Record and Account Keeping -- 5.2.2 One System - One Law -- 5.2.3 Aligning (Regulator's) Forum and Law -- 5.3 Subsequent Occurrences -- 6 Conclusion -- 10 The Law Applicable to Digital Representations of Off-chain Assets -- 1 Introduction -- 2 Asset Tokenisation at Risk of Legal Fragmentation -- 3 Tokens as Financial Intangible Res -- 4 Conflict-of-Laws Implications -- 4.1 Connecting the Underlying Assets -- 4.2 Connecting the DLT Network -- 4.3 Connecting the Token or the Token Wallet -- 4.4 Connecting the Relevant Intermediary -- 5 Conclusion -- 11 Cryptocurrencies and Conflict of Laws -- 1 Introductory Remarks on Cryptocurrencies and PIL Issues -- 2 Characterisation of Cryptocurrencies -- 2.1 "Cryptocurrencies" under National Substantive Laws -- 2.2 Towards a Common Understanding of Cryptocurrencies -- 2.2.1 Cryptocurrencies as "Purely de facto Assets" -- 2.2.2 The Knowledge of the Private Key as (the Only) Basis for Control over Cryptocurrencies -- 3 The PIL Regime of Cryptocurrencies as Payment Instruments -- 4 ...and as "Property" -- 5 Available Options for a Conflict-of-Laws Regime -- 5.1 The "PROPA" and "PREMA" Criteria -- 5.2 The Transferor's or the Transferee's Location -- 5.3 The Elective Situs/Lex Creationis Approach... -- 5.4 ...with Some Addenda -- Part 3 Specific Blockchain Assets & -- Legal Relations | |
| 505 | 8 | |a 12 The Law(s) Applicable to Central Bank Digital Currencies | |
| 520 | |a This book brings together expert views that, taken together, speak to the desirability, necessity and feasibility of unified rules to resolve Private International Law issues arising in the context of the digital economy | ||
| 700 | 1 | |a Lehmann, Matthias |e Sonstige |4 oth | |
| 700 | 1 | |a Lalani, Shaheeza |e Sonstige |4 oth | |
| 776 | 0 | 8 | |i Erscheint auch als |n Druck-Ausgabe |a Bonomi, Andrea |t Blockchain and Private International Law |d Boston : BRILL,c2023 |z 9789004514843 |
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Datensatz im Suchindex
| _version_ | 1810600620472664064 |
|---|---|
| adam_text | |
| any_adam_object | |
| author | Bonomi, Andrea |
| author_facet | Bonomi, Andrea |
| author_role | aut |
| author_sort | Bonomi, Andrea |
| author_variant | a b ab |
| building | Verbundindex |
| bvnumber | BV049873909 |
| collection | ZDB-30-PQE |
| contents | Intro -- Contents -- Illustrations -- Figures -- Tables -- Notes on Contributors -- Introduction: The Blockchain as a Challenge to Traditional Private International Law -- 1 Blockchain as a Global Information Register -- 2 The Distribution of Information and Assets All over the Planet -- 3 The Lack of Choices regarding the Applicable Law and the Competent Forum -- 4 The Characterisation Problem -- 5 Finding Appropriate Connecting Factors -- 6 Dispute Resolution -- 7 The Increasing Fragmentation of Conflicts Rules with Regard to the Blockchain -- 8 Outlook -- 1 The Role and Prospects of Private International Law Harmonisation in the Area of DLT -- 1 Introduction1 -- 2 Context -- 2.1 What is DLT? -- 2.2 Characteristics of DLT That Impact PIL Considerations -- 3 PIL Challenges Brought on by DLT Applications -- 3.1 Terminology -- 3.2 Applicable Law and Choice of Law -- 3.2.1 Characterisation -- 3.2.2 Connecting Factors -- 3.2.3 Party Autonomy -- 3.2.4 Revision and Use of Existing Frameworks to Determine the Applicable Law -- 3.3 Jurisdiction and Choice of Court -- 3.4 Recognition and Enforcement -- 4 Case Studies: PIL Considerations in DLT Use Cases -- 4.1 Tokenisation -- 4.1.1 Asset Tokenisation -- 4.1.2 Non-Fungible Tokens -- 4.1.3 Global Value and Supply Chains -- 4.1.4 Soulbound Tokens (SBT s) -- 4.2 Digital Currencies -- 4.2.1 Central Bank Digital Currencies (CBDC s) -- 4.2.2 Stablecoins -- 4.2.3 Cryptocurrencies -- 4.3 Cloud Economies and Metaverses -- 4.4 Decentralized Autonomous Organisations (DAO s) -- 5 Role of PIL Harmonisation in DLT - Why Harmonise? -- 6 Prospects for the Harmonisation of PIL in DLT -- 7 Conclusion: Looking to the Future -- Part 1 Fundamental Questions -- 2 Technical Description of DLT for Conflicts Lawyers -- 1 Purpose of this Chapter -- 2 Key Elements of Blockchain -- 2.1 Block and Chain Structure 2.2 P2P and Consensus Mechanisms -- 2.3 Cryptography -- 2.4 Permissionless and Permissioned Blockchain -- 3 Some Use Cases -- 3.1 Bitcoin -- 3.2 Securities -- 3.3 Non-Fungible Tokens -- 3.4 Electronic B/L and Other Use of Blockchain Technology for Business -- 3.5 Smart Contracts and DAO -- 4 Conclusion -- 3 Should Crypto-Asset Regulation Be Technology-Neutral? -- 1 Introduction -- 2 The Case for Technology-Neutrality -- 2.1 Future-proofing -- 2.2 Impartiality -- 2.3 Functional Equivalence -- 2.4 Hidden Motivations -- 3 Implications for Legislation -- 3.1 Naming Legal Objects -- 3.2 Designing Technology-Neutral Rules -- 3.3 Implications for PIL -- 4 Conclusion -- 4 Is Bitcoin out of Reach for Private International Law? -- 1 Introduction -- 2 The Applicability of PIL to Bitcoin -- 2.1 The Thesis of a Self-Regulation of Legal Relationships Involving the Use of Bitcoins -- 2.2 The Existence of Hurdles to the Implementation of PIL -- 3 The Application of PIL to Bitcoins -- 3.1 Bitcoin as an Asset -- 5 Proprietary Rights in Digital Assets and the Conflict of Laws -- 1 Digital Assets and Other Digital Phenomena -- 2 Crypto Assets - The General Background -- 2.1 Distributed Ledger Technology (DLT) -- 2.2 Endogenous and Exogenous Tokens -- 2.3 The Necessity of Assigning Proprietary Rights in Crypto Assets -- 3 Special Conflict Rules for Proprietary Rights in Crypto Assets -- 3.1 Selected National Legislation -- 3.1.1 Liechtenstein -- 3.1.2 Switzerland -- 3.1.3 Germany -- 3.1.4 United States -- 3.2 Proposed Legislation and Soft Law -- 3.2.1 The Proposed EU Regulation on Third Party Effects of Assignments of Claims -- 3.2.2 ELI Principles on the Use of Digital Assets as Security -- 3.2.3 UNIDROIT Work in the Field -- 3.2.4 HCCH Work in the Field -- 4 Use of DLT for Traditional Classes of Assets -- 4.1 Central Bank Digital Currencies (CBDC) 4.2 Tokens Qualifying as Electronic Money -- 4.3 Tokens Qualifying as Financial Instruments -- 4.3.1 Traditional Rules for Intermediated Securities -- 4.3.2 When Do Intermediated Digital Assets Qualify as Intermediated Securities? -- 5 The Law Applicable to Proprietary Interests in Tokens beyond Existing Conflict Rules -- 5.1 Special Conflict Rules for Exogenous Tokens? -- 5.1.1 The Law Governing the Effects of Tokenisation as Such -- 5.1.2 The Law Governing Proprietary Rights in the Digital Asset -- 5.2 Connecting Factors Focusing on the Parties Involved -- 5.3 Connecting Factors Focusing on the Digital Assets -- 5.3.1 Lex Libri Siti -- 5.3.2 Elective Situs -- 5.3.3 LIMA -- 5.3.4 PROPA and PREMA -- 5.3.5 Other -- 5.4 Discussion -- 6 Summary -- 6 The Good, the Bad and the Ugly: The Private International Law -- 1 Introduction -- 2 Pseudonymity -- 2.1 Public versus Private Distributed Ledgers -- 2.2 Pseudonymity versus Anonymity -- 2.3 The Influence of Centralised Third Parties -- 2.3.1 Wallets -- 2.3.2 Financial Intermediaries -- 2.3.3 Conversion into Fiat Currencies -- 2.4 Anti-Money Laundering Requirements -- 2.5 Intermediary Conclusion -- 3 Transacting on Distributed Ledgers -- 3.1 On-chain Only -- 3.2 Off- and On-chain -- 3.3 Possible Problems -- 3.4 A Concrete Example: DeFi Scams -- 4 The Impact on PIL -- 4.1 Tort -- 4.2 Contractual Relations -- 4.2.1 Choice of Law -- 4.2.2 Absence of Choice of Law -- 4.2.3 Intermediary Conclusion -- 5 A Problem Greater than PIL -- 6 Conclusion -- Part 2 Blockchain Assets and Conflict of Laws: General Issues -- 7 Taxonomy and Characterisation of Crypto Assets in Private International Law -- 1 Introduction -- 2 Taxonomy of Crypto Assets -- 2.1 Common Characteristics of Crypto Assets -- 2.2 Possible Criteria for a Taxonomy of Crypto Assets -- 2.3 A Taxonomy of Crypto Assets for PIL. 3 Characterisation of Crypto Assets -- 3.1 What is Characterisation? -- 3.2 The Characterisation of Crypto Assets within Different Areas of PIL -- 3.2.1 The Characterisation of Crypto Assets within Contractual Relations -- 3.2.2 The Characterisation of Crypto Assets within Non-Contractual Relations -- 3.2.3 Special Conflict-of-Laws Rules for Special Legal Objects: Crypto Assets as Personal Data? -- 3.2.4 The Characterisation of the Transfer of Crypto Assets -- 3.2.5 The Characterisation of Crypto Assets as Securities -- 3.2.6 The Characterisation of Crypto Assets as Currency -- 3.2.7 The Characterisation of Crypto Assets in Insolvency and Succession -- 4 Conclusion -- 8 Crypto Assets and Decentralised Ledgers: Does Situs Actually Matter? -- 1 Preliminary Matters -- 2 When Situs Won't Matter -- 2.1 Characterisation -- 2.2 E v A: Contracts -- 2.2.1 Governing Law and Jurisdiction Clauses -- 2.2.2 Absence of Party Choice -- 2.2.3 Consumer Contracts under EU Law -- 2.3 Fetch.AI Ltd v Persons Unknown: Tort -- 2.4 Ion Science v Persons Unknown: Trusts and Property -- 2.5 Conclusions -- 3 When Situs Will, Actually, Matter -- 3.1 The Outright Proprietary Claim -- 3.2 England and Wales -- 3.2.1 Jurisdiction -- 3.2.2 Lex Causae -- 3.3 The EU -- 3.3.1 Jurisdiction -- 3.3.2 Lex Causae -- 3.4 Conclusions -- 4 A Broader Criticism of Situs as a Connecting Factor -- 4.1 The Rules of PIL Change Over Time -- 4.2 The Rules of PIL Are Not Absolute -- 4.3 Other Possibilities: Is It Time Situs Was Unseated? -- 4.3.1 Reforms to National Property Laws -- 4.3.2 Clarification on EU Law -- 4.3.3 An International Solution -- 5 Conclusions -- 9 The Law Applicable to Crypto Assets: What Policy Choices Are Ahead of Us? -- 1 Introduction -- 2 An Overview of Crypto Assets -- 2.1 Key Features of Crypto Assets -- 2.2 Current Crypto Assets Landscape 3 Characterisation of Crypto Assets -- 3.1 Crypto Assets as Money or Legal Tender -- 3.2 Crypto Assets as Property -- 4 Defining the Scope of Choice-of-Law Rules or Instruments -- 4.1 Technological Neutrality -- 4.2 Different Legal Aspects of Crypto Assets and Scope Rules -- 4.2.1 Crypto Assets as Representations -- 4.2.2 Interplay in the Existing Choice-of-Law System -- 5 Policy Choices in Developing Suitable Connecting Factors -- 5.1 Freedom of Choice -- 5.2 Applicable Law in the Absence of Choice -- 5.2.1 Record and Account Keeping -- 5.2.2 One System - One Law -- 5.2.3 Aligning (Regulator's) Forum and Law -- 5.3 Subsequent Occurrences -- 6 Conclusion -- 10 The Law Applicable to Digital Representations of Off-chain Assets -- 1 Introduction -- 2 Asset Tokenisation at Risk of Legal Fragmentation -- 3 Tokens as Financial Intangible Res -- 4 Conflict-of-Laws Implications -- 4.1 Connecting the Underlying Assets -- 4.2 Connecting the DLT Network -- 4.3 Connecting the Token or the Token Wallet -- 4.4 Connecting the Relevant Intermediary -- 5 Conclusion -- 11 Cryptocurrencies and Conflict of Laws -- 1 Introductory Remarks on Cryptocurrencies and PIL Issues -- 2 Characterisation of Cryptocurrencies -- 2.1 "Cryptocurrencies" under National Substantive Laws -- 2.2 Towards a Common Understanding of Cryptocurrencies -- 2.2.1 Cryptocurrencies as "Purely de facto Assets" -- 2.2.2 The Knowledge of the Private Key as (the Only) Basis for Control over Cryptocurrencies -- 3 The PIL Regime of Cryptocurrencies as Payment Instruments -- 4 ...and as "Property" -- 5 Available Options for a Conflict-of-Laws Regime -- 5.1 The "PROPA" and "PREMA" Criteria -- 5.2 The Transferor's or the Transferee's Location -- 5.3 The Elective Situs/Lex Creationis Approach... -- 5.4 ...with Some Addenda -- Part 3 Specific Blockchain Assets & -- Legal Relations 12 The Law(s) Applicable to Central Bank Digital Currencies |
| ctrlnum | (ZDB-30-PQE)EBC31218162 (ZDB-30-PAD)EBC31218162 (ZDB-89-EBL)EBL31218162 (OCoLC)1427666135 (DE-599)BVBBV049873909 |
| dewey-full | 343.0999 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 343 - Military, tax, trade & industrial law |
| dewey-raw | 343.0999 |
| dewey-search | 343.0999 |
| dewey-sort | 3343.0999 |
| dewey-tens | 340 - Law |
| discipline | Rechtswissenschaft |
| edition | 1st ed |
| format | Electronic eBook |
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-- 2.2 Characteristics of DLT That Impact PIL Considerations -- 3 PIL Challenges Brought on by DLT Applications -- 3.1 Terminology -- 3.2 Applicable Law and Choice of Law -- 3.2.1 Characterisation -- 3.2.2 Connecting Factors -- 3.2.3 Party Autonomy -- 3.2.4 Revision and Use of Existing Frameworks to Determine the Applicable Law -- 3.3 Jurisdiction and Choice of Court -- 3.4 Recognition and Enforcement -- 4 Case Studies: PIL Considerations in DLT Use Cases -- 4.1 Tokenisation -- 4.1.1 Asset Tokenisation -- 4.1.2 Non-Fungible Tokens -- 4.1.3 Global Value and Supply Chains -- 4.1.4 Soulbound Tokens (SBT s) -- 4.2 Digital Currencies -- 4.2.1 Central Bank Digital Currencies (CBDC s) -- 4.2.2 Stablecoins -- 4.2.3 Cryptocurrencies -- 4.3 Cloud Economies and Metaverses -- 4.4 Decentralized Autonomous Organisations (DAO s) -- 5 Role of PIL Harmonisation in DLT - Why Harmonise? -- 6 Prospects for the Harmonisation of PIL in DLT -- 7 Conclusion: Looking to the Future -- Part 1 Fundamental Questions -- 2 Technical Description of DLT for Conflicts Lawyers -- 1 Purpose of this Chapter -- 2 Key Elements of Blockchain -- 2.1 Block and Chain Structure</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">2.2 P2P and Consensus Mechanisms -- 2.3 Cryptography -- 2.4 Permissionless and Permissioned Blockchain -- 3 Some Use Cases -- 3.1 Bitcoin -- 3.2 Securities -- 3.3 Non-Fungible Tokens -- 3.4 Electronic B/L and Other Use of Blockchain Technology for Business -- 3.5 Smart Contracts and DAO -- 4 Conclusion -- 3 Should Crypto-Asset Regulation Be Technology-Neutral? -- 1 Introduction -- 2 The Case for Technology-Neutrality -- 2.1 Future-proofing -- 2.2 Impartiality -- 2.3 Functional Equivalence -- 2.4 Hidden Motivations -- 3 Implications for Legislation -- 3.1 Naming Legal Objects -- 3.2 Designing Technology-Neutral Rules -- 3.3 Implications for PIL -- 4 Conclusion -- 4 Is Bitcoin out of Reach for Private International Law? -- 1 Introduction -- 2 The Applicability of PIL to Bitcoin -- 2.1 The Thesis of a Self-Regulation of Legal Relationships Involving the Use of Bitcoins -- 2.2 The Existence of Hurdles to the Implementation of PIL -- 3 The Application of PIL to Bitcoins -- 3.1 Bitcoin as an Asset -- 5 Proprietary Rights in Digital Assets and the Conflict of Laws -- 1 Digital Assets and Other Digital Phenomena -- 2 Crypto Assets - The General Background -- 2.1 Distributed Ledger Technology (DLT) -- 2.2 Endogenous and Exogenous Tokens -- 2.3 The Necessity of Assigning Proprietary Rights in Crypto Assets -- 3 Special Conflict Rules for Proprietary Rights in Crypto Assets -- 3.1 Selected National Legislation -- 3.1.1 Liechtenstein -- 3.1.2 Switzerland -- 3.1.3 Germany -- 3.1.4 United States -- 3.2 Proposed Legislation and Soft Law -- 3.2.1 The Proposed EU Regulation on Third Party Effects of Assignments of Claims -- 3.2.2 ELI Principles on the Use of Digital Assets as Security -- 3.2.3 UNIDROIT Work in the Field -- 3.2.4 HCCH Work in the Field -- 4 Use of DLT for Traditional Classes of Assets -- 4.1 Central Bank Digital Currencies (CBDC)</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">4.2 Tokens Qualifying as Electronic Money -- 4.3 Tokens Qualifying as Financial Instruments -- 4.3.1 Traditional Rules for Intermediated Securities -- 4.3.2 When Do Intermediated Digital Assets Qualify as Intermediated Securities? -- 5 The Law Applicable to Proprietary Interests in Tokens beyond Existing Conflict Rules -- 5.1 Special Conflict Rules for Exogenous Tokens? -- 5.1.1 The Law Governing the Effects of Tokenisation as Such -- 5.1.2 The Law Governing Proprietary Rights in the Digital Asset -- 5.2 Connecting Factors Focusing on the Parties Involved -- 5.3 Connecting Factors Focusing on the Digital Assets -- 5.3.1 Lex Libri Siti -- 5.3.2 Elective Situs -- 5.3.3 LIMA -- 5.3.4 PROPA and PREMA -- 5.3.5 Other -- 5.4 Discussion -- 6 Summary -- 6 The Good, the Bad and the Ugly: The Private International Law -- 1 Introduction -- 2 Pseudonymity -- 2.1 Public versus Private Distributed Ledgers -- 2.2 Pseudonymity versus Anonymity -- 2.3 The Influence of Centralised Third Parties -- 2.3.1 Wallets -- 2.3.2 Financial Intermediaries -- 2.3.3 Conversion into Fiat Currencies -- 2.4 Anti-Money Laundering Requirements -- 2.5 Intermediary Conclusion -- 3 Transacting on Distributed Ledgers -- 3.1 On-chain Only -- 3.2 Off- and On-chain -- 3.3 Possible Problems -- 3.4 A Concrete Example: DeFi Scams -- 4 The Impact on PIL -- 4.1 Tort -- 4.2 Contractual Relations -- 4.2.1 Choice of Law -- 4.2.2 Absence of Choice of Law -- 4.2.3 Intermediary Conclusion -- 5 A Problem Greater than PIL -- 6 Conclusion -- Part 2 Blockchain Assets and Conflict of Laws: General Issues -- 7 Taxonomy and Characterisation of Crypto Assets in Private International Law -- 1 Introduction -- 2 Taxonomy of Crypto Assets -- 2.1 Common Characteristics of Crypto Assets -- 2.2 Possible Criteria for a Taxonomy of Crypto Assets -- 2.3 A Taxonomy of Crypto Assets for PIL.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">3 Characterisation of Crypto Assets -- 3.1 What is Characterisation? -- 3.2 The Characterisation of Crypto Assets within Different Areas of PIL -- 3.2.1 The Characterisation of Crypto Assets within Contractual Relations -- 3.2.2 The Characterisation of Crypto Assets within Non-Contractual Relations -- 3.2.3 Special Conflict-of-Laws Rules for Special Legal Objects: Crypto Assets as Personal Data? -- 3.2.4 The Characterisation of the Transfer of Crypto Assets -- 3.2.5 The Characterisation of Crypto Assets as Securities -- 3.2.6 The Characterisation of Crypto Assets as Currency -- 3.2.7 The Characterisation of Crypto Assets in Insolvency and Succession -- 4 Conclusion -- 8 Crypto Assets and Decentralised Ledgers: Does Situs Actually Matter? -- 1 Preliminary Matters -- 2 When Situs Won't Matter -- 2.1 Characterisation -- 2.2 E v A: Contracts -- 2.2.1 Governing Law and Jurisdiction Clauses -- 2.2.2 Absence of Party Choice -- 2.2.3 Consumer Contracts under EU Law -- 2.3 Fetch.AI Ltd v Persons Unknown: Tort -- 2.4 Ion Science v Persons Unknown: Trusts and Property -- 2.5 Conclusions -- 3 When Situs Will, Actually, Matter -- 3.1 The Outright Proprietary Claim -- 3.2 England and Wales -- 3.2.1 Jurisdiction -- 3.2.2 Lex Causae -- 3.3 The EU -- 3.3.1 Jurisdiction -- 3.3.2 Lex Causae -- 3.4 Conclusions -- 4 A Broader Criticism of Situs as a Connecting Factor -- 4.1 The Rules of PIL Change Over Time -- 4.2 The Rules of PIL Are Not Absolute -- 4.3 Other Possibilities: Is It Time Situs Was Unseated? -- 4.3.1 Reforms to National Property Laws -- 4.3.2 Clarification on EU Law -- 4.3.3 An International Solution -- 5 Conclusions -- 9 The Law Applicable to Crypto Assets: What Policy Choices Are Ahead of Us? -- 1 Introduction -- 2 An Overview of Crypto Assets -- 2.1 Key Features of Crypto Assets -- 2.2 Current Crypto Assets Landscape</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">3 Characterisation of Crypto Assets -- 3.1 Crypto Assets as Money or Legal Tender -- 3.2 Crypto Assets as Property -- 4 Defining the Scope of Choice-of-Law Rules or Instruments -- 4.1 Technological Neutrality -- 4.2 Different Legal Aspects of Crypto Assets and Scope Rules -- 4.2.1 Crypto Assets as Representations -- 4.2.2 Interplay in the Existing Choice-of-Law System -- 5 Policy Choices in Developing Suitable Connecting Factors -- 5.1 Freedom of Choice -- 5.2 Applicable Law in the Absence of Choice -- 5.2.1 Record and Account Keeping -- 5.2.2 One System - One Law -- 5.2.3 Aligning (Regulator's) Forum and Law -- 5.3 Subsequent Occurrences -- 6 Conclusion -- 10 The Law Applicable to Digital Representations of Off-chain Assets -- 1 Introduction -- 2 Asset Tokenisation at Risk of Legal Fragmentation -- 3 Tokens as Financial Intangible Res -- 4 Conflict-of-Laws Implications -- 4.1 Connecting the Underlying Assets -- 4.2 Connecting the DLT Network -- 4.3 Connecting the Token or the Token Wallet -- 4.4 Connecting the Relevant Intermediary -- 5 Conclusion -- 11 Cryptocurrencies and Conflict of Laws -- 1 Introductory Remarks on Cryptocurrencies and PIL Issues -- 2 Characterisation of Cryptocurrencies -- 2.1 "Cryptocurrencies" under National Substantive Laws -- 2.2 Towards a Common Understanding of Cryptocurrencies -- 2.2.1 Cryptocurrencies as "Purely de facto Assets" -- 2.2.2 The Knowledge of the Private Key as (the Only) Basis for Control over Cryptocurrencies -- 3 The PIL Regime of Cryptocurrencies as Payment Instruments -- 4 ...and as "Property" -- 5 Available Options for a Conflict-of-Laws Regime -- 5.1 The "PROPA" and "PREMA" Criteria -- 5.2 The Transferor's or the Transferee's Location -- 5.3 The Elective Situs/Lex Creationis Approach... -- 5.4 ...with Some Addenda -- Part 3 Specific Blockchain Assets &amp -- Legal Relations</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">12 The Law(s) Applicable to Central Bank Digital Currencies</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This book brings together expert views that, taken together, speak to the desirability, necessity and feasibility of unified rules to resolve Private International Law issues arising in the context of the digital economy</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Lehmann, Matthias</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Lalani, Shaheeza</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Druck-Ausgabe</subfield><subfield code="a">Bonomi, Andrea</subfield><subfield code="t">Blockchain and Private International Law</subfield><subfield code="d">Boston : BRILL,c2023</subfield><subfield code="z">9789004514843</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-30-PQE</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-035213367</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://ebookcentral.proquest.com/lib/hwr/detail.action?docID=31218162</subfield><subfield code="l">DE-2070s</subfield><subfield code="p">ZDB-30-PQE</subfield><subfield code="q">HWR_PDA_PQE</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| id | DE-604.BV049873909 |
| illustrated | Not Illustrated |
| indexdate | 2024-09-19T05:21:48Z |
| institution | BVB |
| isbn | 9789004514850 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-035213367 |
| oclc_num | 1427666135 |
| open_access_boolean | |
| owner | DE-2070s |
| owner_facet | DE-2070s |
| physical | 1 Online-Ressource (807 Seiten) |
| psigel | ZDB-30-PQE ZDB-30-PQE HWR_PDA_PQE |
| publishDate | 2023 |
| publishDateSearch | 2023 |
| publishDateSort | 2023 |
| publisher | BRILL |
| record_format | marc |
| series2 | International and Comparative Business Law and Public Policy Series |
| spelling | Bonomi, Andrea Verfasser aut Blockchain and Private International Law 1st ed Boston BRILL 2023 ©2023 1 Online-Ressource (807 Seiten) txt rdacontent c rdamedia cr rdacarrier International and Comparative Business Law and Public Policy Series v.4 Description based on publisher supplied metadata and other sources Intro -- Contents -- Illustrations -- Figures -- Tables -- Notes on Contributors -- Introduction: The Blockchain as a Challenge to Traditional Private International Law -- 1 Blockchain as a Global Information Register -- 2 The Distribution of Information and Assets All over the Planet -- 3 The Lack of Choices regarding the Applicable Law and the Competent Forum -- 4 The Characterisation Problem -- 5 Finding Appropriate Connecting Factors -- 6 Dispute Resolution -- 7 The Increasing Fragmentation of Conflicts Rules with Regard to the Blockchain -- 8 Outlook -- 1 The Role and Prospects of Private International Law Harmonisation in the Area of DLT -- 1 Introduction1 -- 2 Context -- 2.1 What is DLT? -- 2.2 Characteristics of DLT That Impact PIL Considerations -- 3 PIL Challenges Brought on by DLT Applications -- 3.1 Terminology -- 3.2 Applicable Law and Choice of Law -- 3.2.1 Characterisation -- 3.2.2 Connecting Factors -- 3.2.3 Party Autonomy -- 3.2.4 Revision and Use of Existing Frameworks to Determine the Applicable Law -- 3.3 Jurisdiction and Choice of Court -- 3.4 Recognition and Enforcement -- 4 Case Studies: PIL Considerations in DLT Use Cases -- 4.1 Tokenisation -- 4.1.1 Asset Tokenisation -- 4.1.2 Non-Fungible Tokens -- 4.1.3 Global Value and Supply Chains -- 4.1.4 Soulbound Tokens (SBT s) -- 4.2 Digital Currencies -- 4.2.1 Central Bank Digital Currencies (CBDC s) -- 4.2.2 Stablecoins -- 4.2.3 Cryptocurrencies -- 4.3 Cloud Economies and Metaverses -- 4.4 Decentralized Autonomous Organisations (DAO s) -- 5 Role of PIL Harmonisation in DLT - Why Harmonise? -- 6 Prospects for the Harmonisation of PIL in DLT -- 7 Conclusion: Looking to the Future -- Part 1 Fundamental Questions -- 2 Technical Description of DLT for Conflicts Lawyers -- 1 Purpose of this Chapter -- 2 Key Elements of Blockchain -- 2.1 Block and Chain Structure 2.2 P2P and Consensus Mechanisms -- 2.3 Cryptography -- 2.4 Permissionless and Permissioned Blockchain -- 3 Some Use Cases -- 3.1 Bitcoin -- 3.2 Securities -- 3.3 Non-Fungible Tokens -- 3.4 Electronic B/L and Other Use of Blockchain Technology for Business -- 3.5 Smart Contracts and DAO -- 4 Conclusion -- 3 Should Crypto-Asset Regulation Be Technology-Neutral? -- 1 Introduction -- 2 The Case for Technology-Neutrality -- 2.1 Future-proofing -- 2.2 Impartiality -- 2.3 Functional Equivalence -- 2.4 Hidden Motivations -- 3 Implications for Legislation -- 3.1 Naming Legal Objects -- 3.2 Designing Technology-Neutral Rules -- 3.3 Implications for PIL -- 4 Conclusion -- 4 Is Bitcoin out of Reach for Private International Law? -- 1 Introduction -- 2 The Applicability of PIL to Bitcoin -- 2.1 The Thesis of a Self-Regulation of Legal Relationships Involving the Use of Bitcoins -- 2.2 The Existence of Hurdles to the Implementation of PIL -- 3 The Application of PIL to Bitcoins -- 3.1 Bitcoin as an Asset -- 5 Proprietary Rights in Digital Assets and the Conflict of Laws -- 1 Digital Assets and Other Digital Phenomena -- 2 Crypto Assets - The General Background -- 2.1 Distributed Ledger Technology (DLT) -- 2.2 Endogenous and Exogenous Tokens -- 2.3 The Necessity of Assigning Proprietary Rights in Crypto Assets -- 3 Special Conflict Rules for Proprietary Rights in Crypto Assets -- 3.1 Selected National Legislation -- 3.1.1 Liechtenstein -- 3.1.2 Switzerland -- 3.1.3 Germany -- 3.1.4 United States -- 3.2 Proposed Legislation and Soft Law -- 3.2.1 The Proposed EU Regulation on Third Party Effects of Assignments of Claims -- 3.2.2 ELI Principles on the Use of Digital Assets as Security -- 3.2.3 UNIDROIT Work in the Field -- 3.2.4 HCCH Work in the Field -- 4 Use of DLT for Traditional Classes of Assets -- 4.1 Central Bank Digital Currencies (CBDC) 4.2 Tokens Qualifying as Electronic Money -- 4.3 Tokens Qualifying as Financial Instruments -- 4.3.1 Traditional Rules for Intermediated Securities -- 4.3.2 When Do Intermediated Digital Assets Qualify as Intermediated Securities? -- 5 The Law Applicable to Proprietary Interests in Tokens beyond Existing Conflict Rules -- 5.1 Special Conflict Rules for Exogenous Tokens? -- 5.1.1 The Law Governing the Effects of Tokenisation as Such -- 5.1.2 The Law Governing Proprietary Rights in the Digital Asset -- 5.2 Connecting Factors Focusing on the Parties Involved -- 5.3 Connecting Factors Focusing on the Digital Assets -- 5.3.1 Lex Libri Siti -- 5.3.2 Elective Situs -- 5.3.3 LIMA -- 5.3.4 PROPA and PREMA -- 5.3.5 Other -- 5.4 Discussion -- 6 Summary -- 6 The Good, the Bad and the Ugly: The Private International Law -- 1 Introduction -- 2 Pseudonymity -- 2.1 Public versus Private Distributed Ledgers -- 2.2 Pseudonymity versus Anonymity -- 2.3 The Influence of Centralised Third Parties -- 2.3.1 Wallets -- 2.3.2 Financial Intermediaries -- 2.3.3 Conversion into Fiat Currencies -- 2.4 Anti-Money Laundering Requirements -- 2.5 Intermediary Conclusion -- 3 Transacting on Distributed Ledgers -- 3.1 On-chain Only -- 3.2 Off- and On-chain -- 3.3 Possible Problems -- 3.4 A Concrete Example: DeFi Scams -- 4 The Impact on PIL -- 4.1 Tort -- 4.2 Contractual Relations -- 4.2.1 Choice of Law -- 4.2.2 Absence of Choice of Law -- 4.2.3 Intermediary Conclusion -- 5 A Problem Greater than PIL -- 6 Conclusion -- Part 2 Blockchain Assets and Conflict of Laws: General Issues -- 7 Taxonomy and Characterisation of Crypto Assets in Private International Law -- 1 Introduction -- 2 Taxonomy of Crypto Assets -- 2.1 Common Characteristics of Crypto Assets -- 2.2 Possible Criteria for a Taxonomy of Crypto Assets -- 2.3 A Taxonomy of Crypto Assets for PIL. 3 Characterisation of Crypto Assets -- 3.1 What is Characterisation? -- 3.2 The Characterisation of Crypto Assets within Different Areas of PIL -- 3.2.1 The Characterisation of Crypto Assets within Contractual Relations -- 3.2.2 The Characterisation of Crypto Assets within Non-Contractual Relations -- 3.2.3 Special Conflict-of-Laws Rules for Special Legal Objects: Crypto Assets as Personal Data? -- 3.2.4 The Characterisation of the Transfer of Crypto Assets -- 3.2.5 The Characterisation of Crypto Assets as Securities -- 3.2.6 The Characterisation of Crypto Assets as Currency -- 3.2.7 The Characterisation of Crypto Assets in Insolvency and Succession -- 4 Conclusion -- 8 Crypto Assets and Decentralised Ledgers: Does Situs Actually Matter? -- 1 Preliminary Matters -- 2 When Situs Won't Matter -- 2.1 Characterisation -- 2.2 E v A: Contracts -- 2.2.1 Governing Law and Jurisdiction Clauses -- 2.2.2 Absence of Party Choice -- 2.2.3 Consumer Contracts under EU Law -- 2.3 Fetch.AI Ltd v Persons Unknown: Tort -- 2.4 Ion Science v Persons Unknown: Trusts and Property -- 2.5 Conclusions -- 3 When Situs Will, Actually, Matter -- 3.1 The Outright Proprietary Claim -- 3.2 England and Wales -- 3.2.1 Jurisdiction -- 3.2.2 Lex Causae -- 3.3 The EU -- 3.3.1 Jurisdiction -- 3.3.2 Lex Causae -- 3.4 Conclusions -- 4 A Broader Criticism of Situs as a Connecting Factor -- 4.1 The Rules of PIL Change Over Time -- 4.2 The Rules of PIL Are Not Absolute -- 4.3 Other Possibilities: Is It Time Situs Was Unseated? -- 4.3.1 Reforms to National Property Laws -- 4.3.2 Clarification on EU Law -- 4.3.3 An International Solution -- 5 Conclusions -- 9 The Law Applicable to Crypto Assets: What Policy Choices Are Ahead of Us? -- 1 Introduction -- 2 An Overview of Crypto Assets -- 2.1 Key Features of Crypto Assets -- 2.2 Current Crypto Assets Landscape 3 Characterisation of Crypto Assets -- 3.1 Crypto Assets as Money or Legal Tender -- 3.2 Crypto Assets as Property -- 4 Defining the Scope of Choice-of-Law Rules or Instruments -- 4.1 Technological Neutrality -- 4.2 Different Legal Aspects of Crypto Assets and Scope Rules -- 4.2.1 Crypto Assets as Representations -- 4.2.2 Interplay in the Existing Choice-of-Law System -- 5 Policy Choices in Developing Suitable Connecting Factors -- 5.1 Freedom of Choice -- 5.2 Applicable Law in the Absence of Choice -- 5.2.1 Record and Account Keeping -- 5.2.2 One System - One Law -- 5.2.3 Aligning (Regulator's) Forum and Law -- 5.3 Subsequent Occurrences -- 6 Conclusion -- 10 The Law Applicable to Digital Representations of Off-chain Assets -- 1 Introduction -- 2 Asset Tokenisation at Risk of Legal Fragmentation -- 3 Tokens as Financial Intangible Res -- 4 Conflict-of-Laws Implications -- 4.1 Connecting the Underlying Assets -- 4.2 Connecting the DLT Network -- 4.3 Connecting the Token or the Token Wallet -- 4.4 Connecting the Relevant Intermediary -- 5 Conclusion -- 11 Cryptocurrencies and Conflict of Laws -- 1 Introductory Remarks on Cryptocurrencies and PIL Issues -- 2 Characterisation of Cryptocurrencies -- 2.1 "Cryptocurrencies" under National Substantive Laws -- 2.2 Towards a Common Understanding of Cryptocurrencies -- 2.2.1 Cryptocurrencies as "Purely de facto Assets" -- 2.2.2 The Knowledge of the Private Key as (the Only) Basis for Control over Cryptocurrencies -- 3 The PIL Regime of Cryptocurrencies as Payment Instruments -- 4 ...and as "Property" -- 5 Available Options for a Conflict-of-Laws Regime -- 5.1 The "PROPA" and "PREMA" Criteria -- 5.2 The Transferor's or the Transferee's Location -- 5.3 The Elective Situs/Lex Creationis Approach... -- 5.4 ...with Some Addenda -- Part 3 Specific Blockchain Assets & -- Legal Relations 12 The Law(s) Applicable to Central Bank Digital Currencies This book brings together expert views that, taken together, speak to the desirability, necessity and feasibility of unified rules to resolve Private International Law issues arising in the context of the digital economy Lehmann, Matthias Sonstige oth Lalani, Shaheeza Sonstige oth Erscheint auch als Druck-Ausgabe Bonomi, Andrea Blockchain and Private International Law Boston : BRILL,c2023 9789004514843 |
| spellingShingle | Bonomi, Andrea Blockchain and Private International Law Intro -- Contents -- Illustrations -- Figures -- Tables -- Notes on Contributors -- Introduction: The Blockchain as a Challenge to Traditional Private International Law -- 1 Blockchain as a Global Information Register -- 2 The Distribution of Information and Assets All over the Planet -- 3 The Lack of Choices regarding the Applicable Law and the Competent Forum -- 4 The Characterisation Problem -- 5 Finding Appropriate Connecting Factors -- 6 Dispute Resolution -- 7 The Increasing Fragmentation of Conflicts Rules with Regard to the Blockchain -- 8 Outlook -- 1 The Role and Prospects of Private International Law Harmonisation in the Area of DLT -- 1 Introduction1 -- 2 Context -- 2.1 What is DLT? -- 2.2 Characteristics of DLT That Impact PIL Considerations -- 3 PIL Challenges Brought on by DLT Applications -- 3.1 Terminology -- 3.2 Applicable Law and Choice of Law -- 3.2.1 Characterisation -- 3.2.2 Connecting Factors -- 3.2.3 Party Autonomy -- 3.2.4 Revision and Use of Existing Frameworks to Determine the Applicable Law -- 3.3 Jurisdiction and Choice of Court -- 3.4 Recognition and Enforcement -- 4 Case Studies: PIL Considerations in DLT Use Cases -- 4.1 Tokenisation -- 4.1.1 Asset Tokenisation -- 4.1.2 Non-Fungible Tokens -- 4.1.3 Global Value and Supply Chains -- 4.1.4 Soulbound Tokens (SBT s) -- 4.2 Digital Currencies -- 4.2.1 Central Bank Digital Currencies (CBDC s) -- 4.2.2 Stablecoins -- 4.2.3 Cryptocurrencies -- 4.3 Cloud Economies and Metaverses -- 4.4 Decentralized Autonomous Organisations (DAO s) -- 5 Role of PIL Harmonisation in DLT - Why Harmonise? -- 6 Prospects for the Harmonisation of PIL in DLT -- 7 Conclusion: Looking to the Future -- Part 1 Fundamental Questions -- 2 Technical Description of DLT for Conflicts Lawyers -- 1 Purpose of this Chapter -- 2 Key Elements of Blockchain -- 2.1 Block and Chain Structure 2.2 P2P and Consensus Mechanisms -- 2.3 Cryptography -- 2.4 Permissionless and Permissioned Blockchain -- 3 Some Use Cases -- 3.1 Bitcoin -- 3.2 Securities -- 3.3 Non-Fungible Tokens -- 3.4 Electronic B/L and Other Use of Blockchain Technology for Business -- 3.5 Smart Contracts and DAO -- 4 Conclusion -- 3 Should Crypto-Asset Regulation Be Technology-Neutral? -- 1 Introduction -- 2 The Case for Technology-Neutrality -- 2.1 Future-proofing -- 2.2 Impartiality -- 2.3 Functional Equivalence -- 2.4 Hidden Motivations -- 3 Implications for Legislation -- 3.1 Naming Legal Objects -- 3.2 Designing Technology-Neutral Rules -- 3.3 Implications for PIL -- 4 Conclusion -- 4 Is Bitcoin out of Reach for Private International Law? -- 1 Introduction -- 2 The Applicability of PIL to Bitcoin -- 2.1 The Thesis of a Self-Regulation of Legal Relationships Involving the Use of Bitcoins -- 2.2 The Existence of Hurdles to the Implementation of PIL -- 3 The Application of PIL to Bitcoins -- 3.1 Bitcoin as an Asset -- 5 Proprietary Rights in Digital Assets and the Conflict of Laws -- 1 Digital Assets and Other Digital Phenomena -- 2 Crypto Assets - The General Background -- 2.1 Distributed Ledger Technology (DLT) -- 2.2 Endogenous and Exogenous Tokens -- 2.3 The Necessity of Assigning Proprietary Rights in Crypto Assets -- 3 Special Conflict Rules for Proprietary Rights in Crypto Assets -- 3.1 Selected National Legislation -- 3.1.1 Liechtenstein -- 3.1.2 Switzerland -- 3.1.3 Germany -- 3.1.4 United States -- 3.2 Proposed Legislation and Soft Law -- 3.2.1 The Proposed EU Regulation on Third Party Effects of Assignments of Claims -- 3.2.2 ELI Principles on the Use of Digital Assets as Security -- 3.2.3 UNIDROIT Work in the Field -- 3.2.4 HCCH Work in the Field -- 4 Use of DLT for Traditional Classes of Assets -- 4.1 Central Bank Digital Currencies (CBDC) 4.2 Tokens Qualifying as Electronic Money -- 4.3 Tokens Qualifying as Financial Instruments -- 4.3.1 Traditional Rules for Intermediated Securities -- 4.3.2 When Do Intermediated Digital Assets Qualify as Intermediated Securities? -- 5 The Law Applicable to Proprietary Interests in Tokens beyond Existing Conflict Rules -- 5.1 Special Conflict Rules for Exogenous Tokens? -- 5.1.1 The Law Governing the Effects of Tokenisation as Such -- 5.1.2 The Law Governing Proprietary Rights in the Digital Asset -- 5.2 Connecting Factors Focusing on the Parties Involved -- 5.3 Connecting Factors Focusing on the Digital Assets -- 5.3.1 Lex Libri Siti -- 5.3.2 Elective Situs -- 5.3.3 LIMA -- 5.3.4 PROPA and PREMA -- 5.3.5 Other -- 5.4 Discussion -- 6 Summary -- 6 The Good, the Bad and the Ugly: The Private International Law -- 1 Introduction -- 2 Pseudonymity -- 2.1 Public versus Private Distributed Ledgers -- 2.2 Pseudonymity versus Anonymity -- 2.3 The Influence of Centralised Third Parties -- 2.3.1 Wallets -- 2.3.2 Financial Intermediaries -- 2.3.3 Conversion into Fiat Currencies -- 2.4 Anti-Money Laundering Requirements -- 2.5 Intermediary Conclusion -- 3 Transacting on Distributed Ledgers -- 3.1 On-chain Only -- 3.2 Off- and On-chain -- 3.3 Possible Problems -- 3.4 A Concrete Example: DeFi Scams -- 4 The Impact on PIL -- 4.1 Tort -- 4.2 Contractual Relations -- 4.2.1 Choice of Law -- 4.2.2 Absence of Choice of Law -- 4.2.3 Intermediary Conclusion -- 5 A Problem Greater than PIL -- 6 Conclusion -- Part 2 Blockchain Assets and Conflict of Laws: General Issues -- 7 Taxonomy and Characterisation of Crypto Assets in Private International Law -- 1 Introduction -- 2 Taxonomy of Crypto Assets -- 2.1 Common Characteristics of Crypto Assets -- 2.2 Possible Criteria for a Taxonomy of Crypto Assets -- 2.3 A Taxonomy of Crypto Assets for PIL. 3 Characterisation of Crypto Assets -- 3.1 What is Characterisation? -- 3.2 The Characterisation of Crypto Assets within Different Areas of PIL -- 3.2.1 The Characterisation of Crypto Assets within Contractual Relations -- 3.2.2 The Characterisation of Crypto Assets within Non-Contractual Relations -- 3.2.3 Special Conflict-of-Laws Rules for Special Legal Objects: Crypto Assets as Personal Data? -- 3.2.4 The Characterisation of the Transfer of Crypto Assets -- 3.2.5 The Characterisation of Crypto Assets as Securities -- 3.2.6 The Characterisation of Crypto Assets as Currency -- 3.2.7 The Characterisation of Crypto Assets in Insolvency and Succession -- 4 Conclusion -- 8 Crypto Assets and Decentralised Ledgers: Does Situs Actually Matter? -- 1 Preliminary Matters -- 2 When Situs Won't Matter -- 2.1 Characterisation -- 2.2 E v A: Contracts -- 2.2.1 Governing Law and Jurisdiction Clauses -- 2.2.2 Absence of Party Choice -- 2.2.3 Consumer Contracts under EU Law -- 2.3 Fetch.AI Ltd v Persons Unknown: Tort -- 2.4 Ion Science v Persons Unknown: Trusts and Property -- 2.5 Conclusions -- 3 When Situs Will, Actually, Matter -- 3.1 The Outright Proprietary Claim -- 3.2 England and Wales -- 3.2.1 Jurisdiction -- 3.2.2 Lex Causae -- 3.3 The EU -- 3.3.1 Jurisdiction -- 3.3.2 Lex Causae -- 3.4 Conclusions -- 4 A Broader Criticism of Situs as a Connecting Factor -- 4.1 The Rules of PIL Change Over Time -- 4.2 The Rules of PIL Are Not Absolute -- 4.3 Other Possibilities: Is It Time Situs Was Unseated? -- 4.3.1 Reforms to National Property Laws -- 4.3.2 Clarification on EU Law -- 4.3.3 An International Solution -- 5 Conclusions -- 9 The Law Applicable to Crypto Assets: What Policy Choices Are Ahead of Us? -- 1 Introduction -- 2 An Overview of Crypto Assets -- 2.1 Key Features of Crypto Assets -- 2.2 Current Crypto Assets Landscape 3 Characterisation of Crypto Assets -- 3.1 Crypto Assets as Money or Legal Tender -- 3.2 Crypto Assets as Property -- 4 Defining the Scope of Choice-of-Law Rules or Instruments -- 4.1 Technological Neutrality -- 4.2 Different Legal Aspects of Crypto Assets and Scope Rules -- 4.2.1 Crypto Assets as Representations -- 4.2.2 Interplay in the Existing Choice-of-Law System -- 5 Policy Choices in Developing Suitable Connecting Factors -- 5.1 Freedom of Choice -- 5.2 Applicable Law in the Absence of Choice -- 5.2.1 Record and Account Keeping -- 5.2.2 One System - One Law -- 5.2.3 Aligning (Regulator's) Forum and Law -- 5.3 Subsequent Occurrences -- 6 Conclusion -- 10 The Law Applicable to Digital Representations of Off-chain Assets -- 1 Introduction -- 2 Asset Tokenisation at Risk of Legal Fragmentation -- 3 Tokens as Financial Intangible Res -- 4 Conflict-of-Laws Implications -- 4.1 Connecting the Underlying Assets -- 4.2 Connecting the DLT Network -- 4.3 Connecting the Token or the Token Wallet -- 4.4 Connecting the Relevant Intermediary -- 5 Conclusion -- 11 Cryptocurrencies and Conflict of Laws -- 1 Introductory Remarks on Cryptocurrencies and PIL Issues -- 2 Characterisation of Cryptocurrencies -- 2.1 "Cryptocurrencies" under National Substantive Laws -- 2.2 Towards a Common Understanding of Cryptocurrencies -- 2.2.1 Cryptocurrencies as "Purely de facto Assets" -- 2.2.2 The Knowledge of the Private Key as (the Only) Basis for Control over Cryptocurrencies -- 3 The PIL Regime of Cryptocurrencies as Payment Instruments -- 4 ...and as "Property" -- 5 Available Options for a Conflict-of-Laws Regime -- 5.1 The "PROPA" and "PREMA" Criteria -- 5.2 The Transferor's or the Transferee's Location -- 5.3 The Elective Situs/Lex Creationis Approach... -- 5.4 ...with Some Addenda -- Part 3 Specific Blockchain Assets & -- Legal Relations 12 The Law(s) Applicable to Central Bank Digital Currencies |
| title | Blockchain and Private International Law |
| title_auth | Blockchain and Private International Law |
| title_exact_search | Blockchain and Private International Law |
| title_full | Blockchain and Private International Law |
| title_fullStr | Blockchain and Private International Law |
| title_full_unstemmed | Blockchain and Private International Law |
| title_short | Blockchain and Private International Law |
| title_sort | blockchain and private international law |
| work_keys_str_mv | AT bonomiandrea blockchainandprivateinternationallaw AT lehmannmatthias blockchainandprivateinternationallaw AT lalanishaheeza blockchainandprivateinternationallaw |