Studia Administracyjne

This paper addresses the problem posed by the attempt to define, on the basis of the draft Regulation on cryptoassets markets and amending Directive (EU) 2019/1937 (MiCA), the concept of DLT. The necessity of defining within the scope of cyberspace law as a public law is first positioned. A discussion of the concept itself according to the technological definition was made in order to point out as clearly as possible the three models used in the formulation of the legal concept of DLT. Proposals from specialised international organisations are cited. The models presented are discussed using the examples of the legislation of Japan, Malta and the United States, in order to show the danger that can potentially be associated with each of them and the solution used in the MiCA. The study seeks to answer questions about the technological definition of DLT, the necessity of its inclusion in a piece of legislation, the possible forms of definition used in selected legislation and the appropriateness of the chosen modality within the European Union. The study concludes that the definition used in the MiCA does not provide adequate stability and security in the EU system, where the use of a model corresponding to the solutions adopted in Malta was considered the most appropriate, taking into account the axiological basis of the draft regulation. The work is based on a theoretical-legal method and comparativism, with minimal use of axiology and dogmatics.