The article discloses subjects and objects of legal relations that are related to the circulation of virtual assets on the virtual assets market of Ukraine. The relevance of the research is determined by the fact that the article analyzes the innovations of national legislation and in the context of the implementation of the basis of legal regulation of cryptocurrency exchanges as subjects of the virtual assets market.
The article analyzes the doctrinal definitions of "law formation" available in modern scientific discourse and outlines the characteristic features of this phenomenon. Based on the generalization of various approaches to the definition of "law-making", the following characteristics are defined: 1) it is used in various aspects; 2) duration of legal formation; 3) contains both objective and subjective factors; 4) legal norms are formed as a result of law formation. Since law formation is a long process, it can be divided into certain stages.
The article is devoted to the study of legal regulation of social relations in the Internet. The legislative regulation of the Internet as a special informational space and as a technological network is analyzed. Different approaches and classification peculiarities of legal regulation of the Internet as a technological network and as a special environment in which communicative relations are implemented are described. Determined the leading role of the state in regulating the Internet and establishing legislative provision, while the importance of self-regulatory relations.