Have your say: new consultation launched on cryptoassets

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Sir Geoffrey Vos

Responses are invited to a new consultation launched by the UK Jurisdiction Taskforce, chaired by the Chancellor of the High Court, The Rt. Hon. Sir Geoffrey Vos.

The consultation is seeking input from stakeholders on the principal issues of perceived legal uncertainty about the status of cryptoassets and smart contracts under English private law.

Responses will help inform the preparation of an authoritative legal statement, designed to demonstrate that English private law already provides sufficiently certain foundations, or highlight particular areas of uncertainty that may need to be clarified through legislative reform.

The broader aim is to provide a dependable foundation for the mainstream utilisation of cryptoassets and smart legal contracts, and give market participants and investors the confidence they need to work with them.

The Chancellor of the High Court said: “Mainstream investors still need to be convinced that their legal rights can be protected when they trade in cryptoassets and enter into smart contracts.”

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