Möglichkeiten zur rechtsgeschäftlichen Begründung von Sicherungsrechten an Kryptowährungen als unkörperliche Gegenstände sui generis unter geltendem Recht
Cryptocurrencies and related financial instruments have become very popular. In addition to the purchase of real cryptocurrencies, several exchange traded products are offered on SIX and other exchanges that track the change in value of the underlying cryptocurrencies. Such adoption in the financial market and, in particular, the obligation to provide legally enforceable collateral in favor of investors when structured products are issued by special purpose vehicles to private clients according to article 70 (2) of the Financial Services Act (FINSA), leads to the question of how security interests in cryptocurrencies can be validly established. This paper starts with a legal classification of cryptocurrencies followed by an examination of how legal security interests can be created in cryptocurrencies.
