Private Law
mahmud khdeman; abootaleb koosha; fatemeh nouri
Abstract
Cryptocurrencies are a decentralized form of digital currency which are presented with new technology identify the nature of cryptocurrencies are closely related to recognizing the technical structure of each of its types. Therefore, offering a unit nature in spite of various types are not possible and ...
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Cryptocurrencies are a decentralized form of digital currency which are presented with new technology identify the nature of cryptocurrencies are closely related to recognizing the technical structure of each of its types. Therefore, offering a unit nature in spite of various types are not possible and it is objectionable. Cryptocurrencies or species of intangible property or in case of extending of this concept to intangible property, it's considered as property which have customary and juridical pecuniary. Although cryptocurrencies theoretically and fundamentally have the functions of money but under monetary law as a currency need to identified by governments. Some types of currency codes such as national cryptocurrencies which created by countries they have this identification but other type, as long as they aren’t recognized in laws, doesn't considered as money and they are just digital assets. Some types of currency codes mean tokens that issued in the first coin presentation are matched with conception of securities. In this regard, several resolutions have been issued as yet but majority of them are incomplete and out of bounds. Therefore, its essential for the country's legislative authorities to enter this field and prepare a comprehensive law.
Private Law
bahram taghipour; Narjes Salehi
Abstract
In the capital market, there is a range of transactions between the issuer and the investor or between the securities buyer's and seller's brokers. These transactions, like other kinds of transactions in the non-regulated markets, require efficient rules and sanctions. Some of the sanctions are individually ...
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In the capital market, there is a range of transactions between the issuer and the investor or between the securities buyer's and seller's brokers. These transactions, like other kinds of transactions in the non-regulated markets, require efficient rules and sanctions. Some of the sanctions are individually restricted to the capital market transactions and have been enacted by the Securities Exchange Organization and Securities and Exchange High Counsel. Some other sanctions can be drawn out of the general rules governing contracts. It is expected that the right of retention, as a general rule governing contracts, is applicable in capital market transactions, as well. However, given the specific rules governing the securities market and the necessity of using brokers' services in this market, there are some scepticisms on the right of retention in securities transactions. This study, in a descriptive-analytic way, shows that despite the fact that the right of retention is the general rule of contracts, there are serious scepticisms regarding its application in securities transactions because of the unique nature of these transactions and the fact that these transactions are realized through brokers and central depository company. This is sometimes for the purpose of protecting investors in the context of capital market regulations but in some situations can violate both investors' and brokers' rights. Therefore, it is necessary to set up the Delivery vs. Payment (DVP) system to cover the gaps.