Features of Inheritance of Cryptocurrency Assets

Омельчук, Олександр Сергійович; Іліопол, Інна Михайлівна; Alina, Snizhanna

doi:10.31207/ih.v10i1.233

Cited by 3 publications

(1 citation statement)

References 6 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Specific guidelines, procedures and policies for cryptocurrency owners should be developed to address the inheritance issues. The problem of inheritance of cryptocurrency is known yet remains beyond the focus of researchers, especially in inheritance law (Omelchuk et al , 2021). Interest in cryptocurrency ownership has increased public demand for effective legislation that must be preceded by research on the appropriate approaches to incorporate cryptocurrency in estate planning (Al Mashhour and Abd Aziz, 2019).…”

Section: Discussionmentioning

confidence: 99%

Cryptocurrency estate planning: the challenges, suggested solutions and Malaysia’s future directions

Katuk

Wahab

Kamis

2023

DPRG

View full text Add to dashboard Cite

Purpose This paper aims to collect evidence on the issues and challenges in cryptocurrency estate planning and the possible approaches or methods to address them. Then, this paper also aims to understand Malaysia’s situation compared to global situations and determine how the country could address those challenges. Design/methodology/approach This study adapted a standard systematic review protocol named preferred reporting items for systematic reviews and meta-analyses, guided by three research questions: what are the challenges of cryptocurrency estate planning, how do researchers and practitioners address the issues or challenges and how could Malaysians move towards sustainable cryptocurrency estate planning? Relevant documents reported on cryptocurrency estate planning were analysed using thematic analysis. Findings The results of this review suggested that the issues and challenges in cryptocurrency estate planning can be described from six aspects: awareness, financial aspects, law, process, security and taxation. On the other hand, the approaches or methods to address these challenges may be categorised into laws, processes and technology. Further, a framework for cryptocurrency estate planning in Malaysia is proposed as an initial step towards a sustainable economy and society in Malaysia. Research limitations/implications The state and the use of cryptocurrency are still considered new in most countries globally. Hence, people are yet to be aware of the issues that may arise from it. Nevertheless, cryptocurrency estate planning will soon become an area of interest in which this study could enhance the literature and contribute knowledge to understanding the situation. Originality/value This study collected evidence on the issues and the approaches to address cryptocurrency estate planning. This study then focused on the Malaysian perspective by proposing a framework that was not covered by existing studies.

show abstract

Section: Discussionmentioning

confidence: 99%

Cryptocurrency estate planning: the challenges, suggested solutions and Malaysia’s future directions

Katuk

Wahab

Kamis

2023

DPRG

View full text Add to dashboard Cite

show abstract

Bequeathing the Blockchain Wallet in Public Blockchain Securing Wallet Sensitive Data

Khanum,

Mustafa

2024

Communications in Computer and Information Science

View full text Add to dashboard Cite

Digitalization of Society and Objects of Hereditary Succession

Volos

2022

LIDA

View full text Add to dashboard Cite

The article explores the key issues that arise when digital assets make part of the estate. It considers how the classical theory of inheritance law could be used in the case of digital inheritance and what clarifications should be made to this theory. The purpose of the study is to examine the features of the category “heritable digital assets” and how it evolves as society undergoes digital transformation. To achieve this purpose, the first part of the study is focused on the general issues of the theory ofheritable assets while the second part explores the problems of qualifying assets under civil law produced by digitalization of society (digital rights, cryptocurrencies, social network accounts) as heritable. Finally, the third part based on inductive reasoning formulates general conceptual problems of developing legislation for heritable digital assets. Based on the findings, the study concludes that the following legislative solutions to the identified problems are possible: prohibiting digital inheritance altogether; introducing regulation of inheritance specifically for digital assets; allowing digital assets to pass to estate only if they can be realistically made tradable; admitting that inheritance of digital assets is specific. Obviously, the choice of approach will largely depend on public policies regarding the digital economy that in their turn should rely on evidence-based concepts and realistic proposals. The author believes that regulation of legal relationships of digital inheritance in Russia could be based on a mixed method that combines traditional and technology-driven solutions. This is the best option if the assumption is made to allow digital assets into the estate only where they can be realistically made tradable.

show abstract

Features of Inheritance of Cryptocurrency Assets

Cited by 3 publications

References 6 publications

Cryptocurrency estate planning: the challenges, suggested solutions and Malaysia’s future directions

Cryptocurrency estate planning: the challenges, suggested solutions and Malaysia’s future directions

Bequeathing the Blockchain Wallet in Public Blockchain Securing Wallet Sensitive Data

Digitalization of Society and Objects of Hereditary Succession

Contact Info

Product

Resources

About