Digital Assets: Classifications and Definition

Abstract

Researching digital assets can help understand and assess their economic characteristics and differences between various types of assets. It is important for investors, regulators and investigators so that they could make grounded decisions and develop effective strategies. The article analyzes different types of digital assets and their classifications, which sometimes look rather conflicting and studies challenges of legislative nature in the field of regulation of different types of digital assets in Russia. Contradictions between enactments and standpoints of the Central Bank of the Russian Federation were identified. A conclusion was drawn that now there is no generally accepted classification of digital assets and it could hinder their development. The author advanced original classifications of digital assets and made an attempt to define them and show their signs. The article also analyzes terms given to some types of digital assets by international finance organizations. Apart from that the author proposed definitions of digital currency, crypto-asset and crypto-currency. Methodological foundation of the article is formed by dialectic method that allowed the author to identify subjects of research in their interaction, unity and development, methods of formal logics, such as analysis, induction and deduction and theoretical methods, such as structuring and systematization.