Document Type : Original Article
Authors
PhD Candidate , Department of Private and Islamic Law, Faculty of Law and Political Science, University of Tehran, Tehran, Iran.
Abstract
Abstract:
The increase in the value of digital assets has raised new issues, including the possibility of using these assets as security; So it is necessary to set special rules for them. In Iranian economy, the development of digital assets and their acceptance as security by institutions parallel to the banking system in practice, makes it necessary to pay attention to this issue and determine its rules and legal effects in legal system. The issue is, using digital assets as security faces with which obstacles and under which formal and substantive conditions occurs?
This research with an analytical-comparative approach has reached the conclusion that the opinion of the proponents of using digital assets as security is superior, because it is in line with the principle of freedom of contracting and strengthens the principle of ownership and its efficiency, and it will increase safety of transactions and facilitate commercialization of these assets.
Despite the differences in national laws regarding the formal and substantive conditions for using digital assets as security, the point of view that the creation of the security right depends on the conclusion of a written contract and its perfection is subject to registration, is more compliant with legal principles. It seems that according to the principle of consensuality of contracts in Iranian law, the security right in digital assets creates by the agreement of the parties and it will be effective against third party by registering security right in the comprehensive registration entity (listed in Article 9 of the Production and Infrastructure Financing Law), also this system has deficiencies that need to be resolved.
Keywords
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