Cryptocurrencies, Electronic Securities, Security Token Offerings, Non Fungible Tokens: New Legal Regulations for “Crypto Securities” and Implications for Issuers and Investor and Consumer Protection

Abstract

In the current era of information age, the knowledge and digital economy has become part of the national economy as a result of the Fourth Industrial Revolution. Nevertheless, there have long been several unanswered questions in business practice about the proper use of Cryptocurrencies, Electronic Securities, Security Token in business. This is a topic which, due to the lack of interest of theorists, represents an almost unresearched area, while the answers to the resulting ambiguities and problems are relatively difficult to find. The aim of the scientific study is to examine the current legislative options and related problems of electronic commerce in world business. This goal was formulated according to current needs and emerging practical problems in business practice. Due to the nature of the researched topic, we primarily applied the analysis of legal regulations when processing the issue. However, we also use scientific literature, case law and the analogy of law. With our contribution we provide qualified answers to the pitfalls of business economic practice. The benefit of our contribution is to critically point out selected application problems in a broader context and to suggest ways of improvement.