The UK Jurisdiction Taskforce of LawtechUK has recently released a legal statement on the issuance and transfer of equity or debt securities using a system deploying blockchain or DLT under English law, three years after the publication of the Legal Statement on cryptoassets and smart contracts.
The Legal Statement on the issuance and transfer of digital securities under English private law aims to answer the questions asked in the public consultation. The statement focuses on the parts of digital securities that are potentially novel and distinctive and discusses how well they think general legal principles apply. It highlights the benefits of the inherent flexibility of English law, which readily adapts to the changing commercial needs in the digital economy.
David Quest KC co-authored the statement.
Click here to view the new legal statement.