Akin Gump published a client alert on the U.K. Jurisdiction Taskforce (UKJT), one of six taskforces established by the LawTech Delivery Panel (set up by the U.K. government, the judiciary and the Law Society to promote the use of technology in the legal sector) issuing a legal statement to the effect that cryptoassets constituted property and smart contracts could constitute legally binding contracts (the “Statement”). Published on November 18, 2019, this is the first definitive step towards a formal recognition of the legal status of cryptoassets and smart contracts. To read the full alert, please click here.
Landmark Legal Statement on Cryptoassets and Smart Contracts in the UK
