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Introduction. In the modern information space, digital assets are becoming increasingly popular. For example, tokenized stocks, bonds, and other financial instruments, which are represented by special digital algorithms, are getting used in the investment turnover; they are so called because of the word “token.” These digital algorithmscodes exist and are only accessible within blockchain technology. The specified digital code is functionally a legal substitute for the right to participate in the business of a joint-stock company, or, as a variant of a bond, a legal substitute for a monetary claim of a certain person (the lender) against another person (the borrower). Falsification of a digital token (substituting by some other software algorithm-code) is impossible. The judicial practice that developed before the adoption of the legislative act in 2020 and came into force in 2021 had a contradictory and fragmented character. In this connection, the author sets the goal of continuing to analyze the new federal legislation to improve the procedure for protecting investors’ rights, developing investment turnover, and enhancing the investment climate. Methods. The methodological framework for the study is the methods of scientific cognition, among which the main ones are systematicity, analysis, and comparative law. Results. The behaviors for legal protection are considered, which must necessarily be realized and evaluated by investors when investing in tokens of a particular project. The issue of procedures for the protection of violated rights is raised. The author makes distinctions between token protection in the legal system, legislation, and law enforcement practice. Conclusions. Based on the analysis of the new federal legislation, further doctrinal elaboration is required to substantiate effective procedures for protecting the rights of investors that may be violated in the process of the turnover of digital investment instruments in the modern Internet space.
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