Definition of the concept of «virtual assets»: a comparative analysis of legislation and judicial practise of the European Union Countries

The article analyzes the essence and legal nature of the concept of «virtual assets» as reflected in the legislation and case law of the EU countries. The value of the article lies in the study and legal analysis of the EU laws and case law regulating and defining the concept of «virtual assets». This article examines the main legislative acts regulating virtual assets, as well as important court decisions that affect the definition of this concept. Special attention is paid to the comparative analysis of laws and court practice in such EU countries as Poland, Italy, Estonia, Lithuania, Germany, etc. The article highlights the variety of approaches to the definition of «virtual assets» through the prism of analysis of court decisions and provisions of laws. The main trends in the interpretation of this concept are outlined, as well as some problematic issues that require detailed and unified regulation. In some countries, virtual assets are treated as financial instruments, means of payment, electronic money, financial services, intangible goods, subject to civil rights, etc., while other countries, on the contrary, do not classify them as either financial instruments or means of payment.Having analyzed the regulation of virtual assets, it can be concluded that there is still no clear, unified approach to defining and regulating this phenomenon, so many countries are only trying to establish it. The adoption of the Markets in Crypto-Assets Regulation will help to create a unified regulatory framework for the regulation of the crypto-assets market. Key words: virtual assets, virtual currency, EU case law, EU legislation, crypto assets, money, financial instruments.