CRYPTO ASSETS

Crypto assets are the legal equivalent of property, according to the Lawtech Delivery Panel's UK Jurisdiction Taskforce. In a groundbreaking legal statement, the panel said crypto assets 'have all of the indicia of property and are, therefore, to be treated as property.' This will have far-reaching consequences affecting the treatment of crypto assets on insolvency and succession, and in cases of fraud, theft or breach of trust. The statement also concluded that a smart contract is capable of satisfying the basic requirements of an English law legal contract. 18 November

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