Legal Guarantees and Protection of Investors’ Rights During the Transformation of Public Relations in the Context of the Formation of the Industry 4.0 and the Intensification of Integration Processes

Abstract

AbstractThe chapter highlights some aspects of the problem of regulatory establishment of guarantees on investors’ rights and their protection in the regulation of ICO (Initial Coin Offering) as a way to attract investment. Given the supranational nature of the Industry 4.0 model, it is important to create appropriate conditions for investments in the territory of the Eurasian Economic Union (EAEU) and approximation of the laws of the Member States in this area. It was revealed that before the advent of systematic and comprehensive legal regulation and relevant judicial practice, it is difficult to talk about the formed mechanism of legal guarantees and protection of investors’ rights. The expediency of using “regulatory sandboxes” and a legal experiment, as well as the fact that only a detailed and mainly imperatively regulated ICO procedure can provide guarantees and protect the rights of investors, has been established. It is proved that the main task of the legislator in establishing restrictions is to prevent the use of digital technologies for illegal purposes, to protect bona fide participants in emerging relations, to form a system of guarantees for investor rights and their protection. Concretization of the grounds, boundaries and limits of such restrictions will make it possible to formulate legal norms that minimize the risks of using the investigated method of investing, and will make it possible to effectively implement digital technologies in order to successfully develop the state economy.At the current stage of integration within the framework of the EAEU, in a situation where the digitalization processes of the national economies of the Member States are not fast enough and are not uniform, standards (fundamentals, principles) for the implementation and use of Industry 4.0 technologies should be created. in the EAEU Member States. These standards can be used by them in the development of national approaches, including the regulation of cryptocurrencies and ICOs. The general condition for the harmonization of legal norms in the EAEU should be the functioning of uniform market mechanisms for regulating economies.KeywordsInvestmentsInvestment objectsInvestment methodsGuarantee of rightsDigital economyDigital technologiesBlockchainCryptocurrencyTokensCrowdfundingCrowdinvestingICOIntegration associationHarmonization of lawJEL CodeF15F21F36К24L14O14