On 28 June 2023, the Law Commission of England and Wales published its much-awaited recommendations for reform and development of the law on digital assets.
The report predominately focuses on how the principles of private law, specifically personal property law, apply to such assets. The report is extensively researched, welcomed by practitioners and market participants, and ultimately determines that the common law of England and Wales, in general, is flexible and able to accommodate developments in the digital assets market. It therefore remains well placed to respond to the challenges that the development of the market for digital assets evolves.