For more information see this post on our FSR and Corporate Crime blog.
On 28 July 2022, the Law Commission of England and Wales published a consultation paper on the recognition and protection of digital assets. The consultation paper recommends law reform to recognise a third category of personal property – referred to as "data objects" – in addition to things in possession (such as physical objects) and things in action (such as contractual rights).
The consultation paper acknowledges the flexibility of English law to accommodate digital assets within existing legal principles (including crypto-tokens and cryptoassets). However, the Law Commission recommends reform to ensure "data objects" are treated consistently under English law and, thus, to promote greater legal certainty.
Key contacts
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.