As the financial market became international, financial transactions also included 'foreign elements'. In addition, various international judicial issues such as the decision of the governing law, approval, enforcement of international jurisdiction and foreign judgments, and international bankruptcy law have been raised, and research on them has been actively conducted. However, in recent years, the financial market is facing a new change from conventional internationalization. In short, these changes can be called "financial transactions through virtual assets." If the changes caused by the internationalization of the financial market are the emergence of "foreign elements," the new changes can be said to be the emergence of "virtual elements" in financial transactions.

In this study, we looked at what new issues these recent changes will raise in financial law and international law, as well as whether international law decisions, jurisdiction, and approval of foreign judgments in existing international financial transactions can be applied to 'financial transactions through virtual assets." As a method of financial transaction, legal discussions were organized and international judicial issues were reviewed by dividing them into issues of smart contracts.

Financial transactions through virtual assets are still more progressive than complete, and the current international law is not designed in consideration of virtual factors other than foreign factors. Therefore, it cannot be denied that there are certain limitations in applying the existing international judicial research results and legal regulations on the decision of the governing law, the approval of jurisdiction and foreign judgments to financial transactions through virtual assets as a new phenomenon. In this regard, one alternative could be to designate governing laws and jurisdictions in advance in the short term, and in the long run, it will be necessary to consider legislative supplementation in consideration of “virtual factors” for the current international law on the premise of “foreign factors.”