Fundamental Rights of Consumers in the Context of Distributed Ledger Technology; Effects and Essentials

The emergence of distributed ledger technology and utility tokens has created significant developments in financial markets. However, these developments have also brought new challenges for consumers in this area. Lack of transparency, severe price volatility, and the risk of fraud are among the most important of these challenges. Therefore, the protection of consumer rights is considered a fundamental pillar in the sustainable and healthy development of any market, including the emerging market of utility tokens. Given the specific characteristics of these digital assets, including their cross-border nature, technical complexities, and potential for abuse, understanding consumer rights and the principles that justify the necessity of their legal protection, as well as adopting special measures to guarantee their rights, is essential. In this regard, the current research, using a descriptive-analytical approach and based on library resources, concludes that rights such as the right to access complete information, the right to security, the right to freedom of choice, the right to access a token with real value, the right to benefit from government support, and the right to benefit from protection against advertising and marketing are among the fundamental rights of consumers in this domain. Principles governing the legal system, such as ensuring public interest, public order, social justice, vulnerability, and shortcomings of the civil law system, further highlight the necessity of criminal protection of the aforementioned rights, and measures such as identifying a supervisory body, international cooperation, information transparency, segregation of activities and conflict of interest management, prohibition of profit distribution, and prohibition of charging redemption fees seem necessary to guarantee consumer rights.