Article 40 — Digital Assets

1. 1.

   A digital asset is any digital representation of value or of a right that may be transferred, stored, or traded by electronic means.

2. 2.

   Digital assets are movable property for the purposes of this Code. The owner of a digital asset has the right to use, transfer, and dispose of it in the same manner as any other movable property, subject to the terms governing the asset and the applicable law.

3. 3.

   Control of a digital asset, established by possession of the private key, access credential, or other means of exclusive disposition, constitutes possession for the purposes of this Code.

4. 4.

   Transfer of a digital asset takes effect upon delivery, which is established by the transferee’s acquisition of control.

5. 5.

   The Royal Chancellery may maintain a register of digital assets of particular significance to the State or its nationals. Registration creates a presumption of ownership.