The paradigmatic transformation from paper-based commercial instruments to electronic commercial instruments has become an inevitable necessity in the era of the digital economy. This study, with the aim of conducting a comparative analysis of international standards and UNCITRAL regulations in relation to the Iranian legal system, examines the challenges and opportunities involved in the recognition of electronic transferable records. The main research question is based on how to functionally equate traditional concepts of commercial law with the technical requirements of cyberspace, particularly in light of the UNCITRAL Model Law on Electronic Transferable Records (MLETR 2017). The research method is descriptive-analytical and, using a comparative approach, examines theoretical foundations and positive law. The findings indicate that although the principles of “technology neutrality” and “functional equivalence” are recognized in Iran’s Electronic Commerce Law (2003), fundamental concepts such as “physical possession” and “physical delivery” in the 1931 Commercial Code still constitute serious obstacles to digital transferability. By contrast, UNCITRAL regulations, by replacing the criterion of “exclusive control” with “possession,” have provided an effective model for ensuring the “uniqueness” and “integrity” of the instrument. The results of the study suggest that despite existing legal gaps, the Iranian legal system possesses potential capacities such as secure electronic signature infrastructures and modern banking systems (such as Chakad). Finally, it is recommended that, in order to align with global standards, and alongside redefining the concept of “possession” in the form of “systemic control,” a specific bylaw/regulation for electronic commercial instruments be adopted so that the abstract nature and negotiability of these instruments are guaranteed in judicial practice.