Protection of Investors' Rights When Raising Funds Through the DFA: Legal Mechanisms and Risks

The purpose of the study. In this article, the subject of consideration is the problem of protecting investors' rights when issuers raise funds through digital financial assets. Based on the study of the regulatory material of Russian legislation and the established practice of investing in these assets, the existing and legally prescribed mechanisms and ways of legally protecting investors' rights are considered. The development of this issue is very important in modern conditions, since legislation on digital financial assets in Russia is in the process of formation, many scientific and theoretical provisions have not been fully resolved, and there are a large number of gaps and contradictions in legislation in this area. Conclusions. Based on the results of the study, a conclusion was drawn about the imperfection of domestic legislation in terms of protecting the rights and legitimate interests of investors in the DFA. As a general rule, they have access to civil law ways to protect the violated right, but with a number of reservations due to the nature of the DFA and the nature of public relations in their turnover. Depending on the circumstances of the case, investors can use the means of criminal legal protection and legislation on administrative offenses. In order to increase the degree of guarantees of investors' rights in the field of DFA, the author suggests improving the current legislation. In particular, it is necessary to introduce licensing of certain types of activities related to the issuance and turnover of DFAs, provide for the institution of compulsory civil liability insurance for information system operators and DFA exchange operators, and extend the legislation on investor protection in the securities market to relations related to the issuance and turnover of DFAs.