BLOCKCHAIN TECHNOLOGY- TOWARDS A NEW REGULATORY FRAMEWORK FOR TOKENIZED SECURITIES

被引:0
|
作者
Culinovic-Herc, Edita [1 ]
Zubovic, Antonya [1 ]
Ruk, Morana Derencinovic [2 ]
机构
[1] Univ Rijeka, Fac Law, Rijeka, Croatia
[2] Croatian Financial Serv Supervisory Agcy, Zagreb, Croatia
来源
关键词
blockchain; distributed ledger technology; intangible securities; Capital Markets Act; tokenized securities; EU law; ICOS;
D O I
10.30925/zpfsr.42.2.4
中图分类号
D9 [法律]; DF [法律];
学科分类号
0301 ;
摘要
Blockchain technology, as a representative of distributed ledger technology is particularly suitable for storing and managing databases, including those relating to intangible securities, which are kept at the central depository of intangible securities. The paper first presents components of legal regulation of intangible securities in Croatian law according to the Capital Market Act and its respective bye-laws. The peculiarities of blockchain technology as well as regulatory challenges and approaches for tokenized securities are then elaborated. Following the analysis of legal characteristics of tokenised securities and their comparison with the notion of transferable securities as defined in EU capital market law, in conclusion authors propose a regulatory approach for tokenized securities in Croatian law.
引用
收藏
页码:323 / 342
页数:20
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