Lex Cryptographia in the System of Legal Regulation of Corporate Relations

Abstract

Relationships involving blockchain organizations are largely governed by special rules that form the lex cryptographia. This regulatory framework is represented by the code of smart contracts and blockchain protocols. Regulating the legal status of digital legal entities, it acts as a local legal act, and in the field of private international law, as a supranational, conditionally autonomous legal or sub-legal system. In the first case, the lex cryptographia can be classified as a “third” legal order, developing alongside the international and domestic legal systems. In the second case, it is a system of rules that operates solely within the applicable legal order, based on the principles of autonomy of the parties’ will and freedom of contract.