Stablecoins: imputation gaps and challenges of civil liability in the tokenized economy

Abstract

This article examines whether the use of stablecoins as instruments for financing agribusiness produces civil-liability imputation gaps that are incompatible with traditional dogmatic assumptions. Through a hypothetical-deductive method and a dogmatic-functional approach, the study analyzes stablecoins, tokenized agribusiness financing, decentralized finance, and comparative regulatory frameworks in the European Union, the United States, and Brazil. It argues that the operational decentralization promoted by stablecoins fragments the poles of liability, weakens linear causation, and renders the classical fault paradigm insufficient. The article proposes an interpretive model based on three pillars: layered proportional liability, duties of governance and due diligence, and accountability as an autonomous criterion of imputation. It concludes that civil liability has the dogmatic resources necessary to respond to the tokenized economy, provided that causation, fault, and risk are reconstructed in light of the structural complexity of blockchain-based arrangements.