Невзаимозаменяемые токены (NFT) и токенизация в спорте: сравнительный анализ правового регулирования

Евразийский юридический журнал. 2025. № 9 (208). С. 167–171.

Khusainov G.

This article provides a comprehensive analysis of the legal aspects of applying distributed ledger technology (blockchain) and tokenization of assets in the field of physical culture and sports. It examines key areas of implementation for these technologies, including the issuance of tokenized assets, the release of non-fungible tokens (NFTs), the creation of loyalty systems based on fan tokens, and combating the trade in counterfeit products. The central focus of the work is a comparative legal analysis of regulatory models established in various jurisdictions (USA, EU, UAE, Switzerland, Singapore), highlighting three dominant approaches: restrictive (USA), harmonized (EU), and stimulating (UAE, Switzerland). Particular attention is paid to the qualification of tokenized assets and non-fungible tokens (NFTs), issues of the extraterritorial application of national legislation, and the analysis of emerging judicial practice. A separate section discusses specific legal risks and barriers to market development in the Russian Federation, stemming from the current ban on cryptocurrency payments and the lack of legal definitions for NFTs. Based on the research findings, conclusions are drawn on the necessity of developing an industry-specific classification and creating a specialized experimental legal regime ("regulatory sandbox") to mitigate legal uncertainty.

Keywords: США, Российская Федерация, сравнительно-правовой анализ, правовые риски, ОАЭ, токенизация, NFT, невзаимозаменяемые токены, Блокчейн, Howey Test, регуляторные модели, регламент MiCA