The UK Jurisdiction Taskforce (UKJT) is a part of LawtechUK, an industry-led group tasked withsupporting the digital transformation of the UK legal services sector and with positioning Englishlaw as a law of choice for new technologies. The remit of the UKJT is to provide legal certainty fornew technologies under English law.Digital transformation has become a top priority for many institutions operating in the financialmarkets. It is widely recognised that blockchain, DLT and associated technologies offer significantpotential in this regard. At the same time, the past 18 months have seen increased turbulence in the digital asset markets.Recent high-profile collapses of digital asset exchanges, platforms and funds have highlighted theimportance of robust insolvency processes to ensure fair and predictable outcomes in respect ofthis form of investment. The English courts have nonetheless not yet had occasion to address theapplication of various important English insolvency law concepts to digital assets. Having previously published a number of contributions in relation to digital assets, the UKJT seesmerit in delivering a legal statement on digital assets and English insolvency law, in order toprovide clarity to the market as to the application of English insolvency law to digital assets.The aim of this consultation paper is to ensure that the issues addressed in the proposed legalstatement are those about which key stakeholders are most concerned. Your input is sought as to whether there are material issues of concern to stakeholders in relationto the application of English insolvency law to digital assets, other than those set out in thisconsultation paper. This consultation will remain open for responses until Monday 4 December. Once this consultationhas closed and the results have been considered, it is intended that the Legal Statement on DigitalAssets and Insolvency Law will be published in early 2024
