FUNCTIONING AND USE OF SYSTEMS BASED ON DISTRIBUTED REGISTRY TECHNOLOGY (DLT): PROBLEMS OF DETERMINING APPLICABLE LAW AND JURISDICTION

Abstract

The rapid development of the practice of using the Distributed Ledger Technology (DLT) in the area of financial and commercial relations gives rise to problems of uncertainty in the legal regulation of the rights and obligations of participants in relations concerning operation of systems based on this technology. This paper contains a brief review of some notable foreign studies on the problems of determining the applicable law and jurisdiction in the context of using DLT systems.