Category: cryptocurrencies

English law can accommodate blockchain share-dealing – Law Society’s Gazette

Posted February 24th, 2023 in company law, cryptocurrencies, news, shareholders by sally

‘Requirements under the Companies Act are not necessarily a barrier to company shares being held and traded on a blockchain of encrypted digital code, according to a government-backed panel of experts. In its latest statement of the law relating to innovations in the crypto economy, the UK Jurisdiction Taskforce concludes that English law is well equipped to deal with digital securities such as bonds and shares.’

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Law Society's Gazette, 22nd February 2023

Source: www.lawgazette.co.uk

NFTs ruling shows courts ahead of legislators on question of crypto property law – OUT-LAW.com

Posted February 7th, 2023 in constructive trusts, cryptocurrencies, fraud, news, service by sally

‘A recent ruling by the High Court in London highlights the willingness of the UK courts to apply pragmatic thinking to novel questions of law as it applies to digital assets, an expert has said.’

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OUT-LAW.com, 6th February 2023

Source: www.pinsentmasons.com

Government promises robust crypto regulation – BBC News

Posted February 1st, 2023 in cryptocurrencies, financial regulation, government departments, news by sally

‘The government is announcing measures to “robustly” regulate the cryptocurrency industry.’

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BBC News, 31st January 2023

Source: www.bbc.co.uk

Pseudonymous claimant debarred from proceedings – Law Society’s Gazette

Posted November 28th, 2022 in anonymity, civil procedure rules, copyright, costs, cryptocurrencies, internet, news by tracey

‘The operator and publisher of a website is not entitled to participate in court proceedings under the pseudonym “Cøbra” – even with legal representation, the High Court has ruled. In Wright v Persons Unknown, Costs Judge Rowley agreed to bar “Cøbra” from costs proceedings arising from a copyright case unless it identifies itself and provides an address.’

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Law Society's Gazette, 25th November 2022

Source: www.lawgazette.co.uk

Law Commission seeks views on decentralised autonomous organisations (DAOs) – Law Commission

Posted November 17th, 2022 in company law, consultations, contracts, cryptocurrencies, Law Commission, news, statute law revision by tracey

‘The Law Commission has launched a call for evidence asking users and other experts for information about how decentralised autonomous organisations – DAOs – can be characterised, and how the law of England and Wales might accommodate them now and in the future.’

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Law Commission, 16th November 2022

Source: www.lawcom.gov.uk

What type of property is crypto? With Rob Kellar KC – Law Pod UK

Posted November 3rd, 2022 in cryptocurrencies, legal profession, news, podcasts by sally

‘What type of legal property is cryptocurrency? How might the law deal with NFTs? Do any of these new assets require lawyers? Dive into the future with Rosalind English and Robert Kellar KC, as they consider the UK Law Commission’s Digital Assets consultation paper.’

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Law Pod UK, 2nd November 2022

Source: audioboom.com

Law Commission to review how private international law applies to digital assets and other emerging technology – Law Commission

Posted October 28th, 2022 in computer programs, consultations, cryptocurrencies, electronic commerce, international law, Law Commission, news by tracey

‘The Law Commission of England and Wales has launched a Government-commissioned review that aims to provide clarity on how private international law rules can apply to emerging technology, such as digital assets and electronic trade documents.’

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Law Commission, 18th October 2022

Source: www.lawcom.gov.uk

New property rights relevant to ‘data objects’ proposed – OUT-LAW.com

Posted October 6th, 2022 in consultations, cryptocurrencies, data protection, Law Commission, news by sally

‘A new property right that recognises an individual or entity’s control over “data objects” should be established in law in England and Wales, the Law Commission has said.’

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OUT-LAW.com, 3rd October 2022

Source: www.pinsentmasons.com

Property Rights, Crypto Tokens and Digital Assets: 8 Predictions – UK Human Rights Blog

Posted September 20th, 2022 in contracts, cryptocurrencies, Law Commission, news by tracey

‘In recent years, digital assets including cryptocurrencies and non-fungible tokens (NFTs) have commanded considerable media attention. Speaking extra-judicially in the foreward to the UKJT Statement on Crypto-assets and Smart Contracts in November 2019, the Master of the Rolls, Sir Geoffrey Vos, has stated that: “In legal terms, cryptoassets and smart contracts undoubtedly represent the future”. To what extent should the law of the future grant property rights in respect of crypto assets? Will the inalienable right to peaceful enjoyment of possessions apply to tokens existing only on the blockchain? Or to NFTs residing only in the “metaverse”?’

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UK Human Rights Blog, 16th September 2022

Source: ukhumanrightsblog.com

Crypto market rife for new areas of litigation – Law Society’s Gazette

Posted September 9th, 2022 in cryptocurrencies, fraud, money laundering, news by tracey

‘The highly active cryptocurrency sector will spawn a raft of new areas of litigation, experts told the Law Society’s commercial litigation conference this week.’

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Law Society's Gazette, 8th September 2022

Source: www.lawgazette.co.uk

Court of Appeal to consider crypto ‘duty of care’ – Law Society’s Gazette

Posted August 16th, 2022 in appeals, cryptocurrencies, duty of care, news by sally

‘The question of whether developers of cryptocurrencies and other blockchain-based assets owe a duty of care to investors in their products is to be examined in the Court of Appeal. Ruling last week in Tulip Trading v Van der Laan and Ors, Lady Justice Andrews granted permission for a Seychelles company owned by Dr Craig Wright, who claims to have invented the bitcoin digital currency to appeal a judgment by Mrs Justice Falk of 25 March denying jurisdiction over a claim for breach of fiduciary and tortious duties.’

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Law Society's Gazette, 15th August 2022

Source: www.lawgazette.co.uk

English courts increasingly grappling with complex crypto disputes – OUT-LAW.com

Posted August 5th, 2022 in company directors, company law, cryptocurrencies, dispute resolution, news by tracey

‘The English courts have adapted quickly to increasingly complex disputes involving crypto assets, a legal expert has said, following a recent ruling in a dispute over the ownership of an account worth roughly £30 million.’

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OUT-LAW.com, 5th August 2022

Source: www.pinsentmasons.com

Law reforms proposed for digital assets, including NFTs and other crypto-tokens – Law Commission

Posted August 2nd, 2022 in consultations, cryptocurrencies, Law Commission, news by tracey

‘The Law Commission of England and Wales has published new proposals to reform the law relating to digital assets.’

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Law Commission, 28th July 2022

Source: www.lawcom.gov.uk

Craig Wright wins ‘only nominal damages’ of £1 in bitcoin libel case – The Guardian

Posted August 2nd, 2022 in cryptocurrencies, damages, defamation, evidence, news by tracey

‘For years Craig Wright has claimed that he is the mythical figure who created bitcoin. But a legal bid by the Australian computer scientist to defend his assertion that he is Satoshi Nakamoto resulted in a pyrrhic victory and a tarnished reputation on Monday.’

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The Guardian, 1st August 2022

Source: www.theguardian.com

MoR proposes ‘major new project’ to boost blockchain – Law Society’s Gazette

Posted July 28th, 2022 in choice of forum, cryptocurrencies, dispute resolution, news, speeches, taxation by sally

‘Putting tax payments or property transactions on blockchain – or issuing a Bank of England-backed digital currency – would help entrench English law as the forum of choice for resolving crypto disputes, the master of the rolls has said in a constitutionally daring intervention into policy-making.’

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Law Society's Gazette, 26th July 2022

Source: www.lawgazette.co.uk

Unlocking the crypt: insolvency & cryptocurrency – New Law Journal

Posted July 13th, 2022 in bankruptcy, company directors, cryptocurrencies, insolvency, news by tracey

‘Despite the UK’s intention to be a global leader in cryptoassets, the courts are still wrestling with the basics: Rachel Coyle of 36 Commercial explains why it’s time to get to grips with the insolvency context.’

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New Law Journal, 8th July 2022

Source: www.newlawjournal.co.uk

High Court permits service by NFT in ‘English legal first’ – Law Society’s Gazette

Posted July 13th, 2022 in cryptocurrencies, fraud, misrepresentation, news, service by tracey

‘An Italian engineer trying to recover around £2m of stolen cryptocurrency has been given permission to serve High Court proceedings via a non-fungible token (NFT) on the blockchain, in what his lawyers have said is an English legal first.’

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Law Society's Gazette, 13th July 2022

Source: www.lawgazette.co.uk

English High Court ruling on NFTs ‘hugely significant’ for fraud victims – OUT-LAW.com

Posted June 20th, 2022 in artistic works, computer crime, cryptocurrencies, fraud, news by tracey

‘A ground-breaking ruling in the English High Court that recognised non-fungible tokens (NFTs) as legal property is a major victory for victims of fraud, according to one legal expert.’

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OUT-LAW.com, 17th June 2022

Source: www.pinsentmasons.com

Crypto specialists cautiously welcome regulation plans – Law Society’s Gazette

Posted April 8th, 2022 in cryptocurrencies, financial regulation, government departments, news by sally

‘Specialist lawyers have cautiously welcomed the chancellor of the exchequer’s announcement that so-called stablecoins – cryptoassets with a value pegged to that of a conventional fiat currency – are to “be brought within the scope of regulation”. The announcement is part of a package of measures, including the promise of a Royal Mint “non fungible token” (NFT), to make the UK “a global hub for cryptoasset technology and investment”.’

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Law Society's Gazette, 7th April 2022

Source: www.lawgazette.co.uk

Judge lambasts parties’ animosity in latest ‘Dr Bitcoin’ ruling – Law Society’s Gazette

Posted March 30th, 2022 in cryptocurrencies, duty of care, jurisdiction, London, news by sally

‘Parties in the latest round of litigation involving a controversial claim to have originated the Bitcoin digital currency have been warned by a judge against using the courts as a vehicle for their animosity. Ruling in an application over the choice of London as a jurisdiction, Mrs Justice Falk also set out what was hailed as a landmark statement of the law relating to blockchain encryption technology.’

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Law Society's Gazette, 28th March 2022

Source: www.lawgazette.co.uk