The definition of “virtual asset” in Ukrainian legislation (Article 1 of the Law) means some intangible benefit (property, asset), which is an object of civil rights, has its own value (value, monetary equivalent) and, most importantly, is expressed as a set of data in electronic form.

The existence and turnover of a virtual asset is ensured by the system for ensuring the turnover of virtual assets.

A virtual asset can certify property rights (NFT tokens), in particular the right to claim other objects of civil rights (intellectual property, promissory notes and bills of exchange).

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