On 18th November, the Law Society Gazette reported on an authoritative legal statement published by the UK jurisdiction taskforce of the LawTech Delivery Panel. It says that cryptoassets, including but not restricted to, virtual currencies, can be treated in principle as property, and that smart contracts are capable of satisfying the requirements of contracts in English law.
The statement itself can be found at –
Eversheds Sutherland comments on the guidance, having taken part in the process, and saying that perhaps the most welcome aspect of the Report is as regards the recognition that a private key can be a signature.
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