foreword

Public Consultation: The Issuance and Transfer of Digital Securities Under English Private Law

UK Jurisdiction Taskforce - Foreword by Sir Geoffrey Vos, Master of the Rolls

In November 2018, the UK Jurisdiction Taskforce published its Legal Statement on the Status of Cryptoassets and Smart Contracts. The Legal Statement expressed the view that cryptoassets were property and smart contracts were contracts under English law, and has been well received in many jurisdictions.

On 22 April 2021, the UK Jurisdiction Taskforce published its Digital Dispute Resolution Rules to be incorporated into on-chain digital relationships and smart contracts. They allow for arbitral or expert dispute resolution in very short periods, for arbitrators to implement decisions directly on-chain using a private key, and for optional anonymity of the parties.

The UK Jurisdiction Taskforce has now turned its attention to the way in which English law can support the issue and transfer of equity or debt securities on blockchain and DLT systems. We are asking experts and members of the public to provide their input into the questions that the proposed Legal Statement on Digital Securities can most usefully answer.

We will be very grateful to receive responses from as many people as possible in the legal, digital and financial sectors. The consultation closes on 23 September 2022. Thereafter, the UKJT will be hosting a public consultation event to discuss the results.

It is intended that a sub-committee of the UKJT (Lawrence Akka QC, David Quest QC, Richard Hay, Matthew Lavy, Sam Goodman and Anne Rose) will prepare the Legal Statement for publication after the results of the consultation have confirmed the questions to be answered, and after the public consultation event*.

Questions to be addressed in the Legal Statement on Digital Securities

LawtechUK invites you to review the questions to be addressed in the Legal Statement on Digital Securities, in the form below. There are 4 sections of questions; Issuance, Stapling, Transfers and Corporate requirements for UK companies. Please note the form cannot be saved halfway through and should take around 20 minutes to complete.


If you are experiencing technical issues, please view the form here.

You may also respond via email - please download the PDF copy of the consultation for instructions. Download here.

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