Property Rights in Money (and Cryptocurrencies)

Abstract

133 Abstract There is a common core of principles that governs all property rights, whether they relate to tangible or intangible goods. The classical principles of property law are applicable to the property law of intangibles. However, classical property law is also specifically designed to deal with physical objects, which raises the question of the extent to which the regulatory complexes of property law can or must be adapted when dealing with incorporeal goods. This is a challenge that can be observed in the discussion on property rights in data. This modern problem has received much attention, while a very similar and classical problem of property law has not been taken into much consideration in this context. The legal tension between a physical storage medium and the incorporeal good contained in it has dominated the property law discussion on money for decades. In fact, the question of whether classical property law is capable of dealing with the assignment of an incorporeal good is an old one, and much experience has been gained in the national property law systems with regard to money. The examination of this classical problem of property law also seems to be an appropriate starting point for the evaluation of newer legislation on property rights in cryptocurrencies. The new discussion on property rights in data and the old discussion on property rights in money have a strong point of contact when it comes to assigning absolute rights to cryptocurrencies.