Summary
One of the most pressing concerns of mainstream investors considering a digital investment strategy is uncertainty surrounding recovery of digital assets within an insolvent estate.
In this legal statement, the UK Jurisdiction Taskforce addresses the way in which English insolvency law applies to digital assets.
It concludes, amongst other things, that digital assets fall within the definition of property in the English Insolvency Act 1986, and that proprietary rights can be retained to digital assets held by insolvent estates. A valid statutory demand cannot yet, however, be served in respect of a debt of a digital asset.