Digital property – specific issues in the application of private international law rules

Digital property emerges as a new segment of property law, while simultaneously being a consequence of the digitalization of financial intermediation and representing a form of technological innovation that substitutes payment services and investments in the banking and stock markets. Key issues that arise include the choice of governing law, internationally competent courts, and the recognition and enforcement of foreign court and arbitration decisions related to transactions in cryptocurrencies, which are the most widespread form of digital assets. This paper is designed to highlight the specific features of digital property that are important for the application of existing private international law (PIL) rules. It does not focus on a specific legal system, but rather situates the analysis within PIL as a branch of legal science with its own regulatory postulates, which are largely harmonized across legal systems. The aim of the paper is to see the scope of the possibility of applying traditional institutes of international private law to digital property as a legal and regulatory novelty that stands between property or things and rights or financial instrument. By synthesizing core issues that emerge in application of private international law rules to digital assets, we aim to provide a comprehensive understanding of regulatory challenges which encompass digital assets’ role in modern law and economies.