• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Law Commission for England and Wales proposes reforms for digital assets

Jon Hartney by Jon Hartney
July 28, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The U.K. Law Commission called for cryptocurrencies and digital assets to be classed as “data objects” in new reforms aimed at fostering growth and legal protection.

The Law Commission of England and Wales is proposing a number of law reforms to provide wider recognition and legal protections for cryptocurrency and digital asset users.

The institution is reviewing existing legislation on digital assets at the request of the British government in an effort to accommodate the space as it continues to grow in reach and use. The Law Commission announced the call for public consultation from legal experts, technologists and users on July 28.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

The proposal highlights the evolving nature and multi-faceted use of cryptocurrencies, nonfungible tokens and other digital assets. Cryptocurrencies are used as a means of payment, store of value and as a digital representation of ownership or rights to equities and debt securities.

The Law Commission seeks to deliver “wider recognition and legal protections for digital assets” to give a wider range of people, businesses and institutions access to the burgeoning sector. The consultation paper examines how personal property laws apply to digital assets and why they should be classed under this umbrella but in a unique category.

Related: UK government targets crypto in latest legislative agenda

Four key proposals are put forward, starting with explicitly defining a distinct legal category of personal property to accommodate the unique features of digital assets under the banner of “data objects.”

The second will be creating different options for the development and implementation of “data objects” around existing law. Clarifying law around ownership and control of digital assets as well as transfers and transactions are the final two recommendations put forward.

A statement from Commercial and Common Law commissioner Professor Sarah Green highlighted the institution’s focus on the unique features of the technology in order to provide a strong legal foundation for the ecosystem to develop organically:

“Our proposals aim to create a strong legal framework that offers greater consistency and protection for users and promotes an environment that is able to encourage further technological innovation.”

The proposed legal reforms are in line with governmental plans for England and Wales to become a hub for cryptocurrency and digital asset systems. The Law Commission’s deadline for public responses to its consultation paper is set for Nov. 4, 2022.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$23,352.000.25%
  • ethereumEthereum(ETH)$1,664.650.86%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.09%
  • binancecoinBNB(BNB)$332.161.11%
  • usd-coinUSD Coin(USDC)$1.000.08%
  • rippleXRP(XRP)$0.4098320.23%
  • Binance USDBinance USD(BUSD)$1.00-0.04%
  • cardanoCardano(ADA)$0.398658-0.19%
  • dogecoinDogecoin(DOGE)$0.0951071.93%
  • matic-networkPolygon(MATIC)$1.241.23%
  • OKBOKB(OKB)$43.876.80%
  • SolanaSolana(SOL)$24.35-0.35%
  • Shiba InuShiba Inu(SHIB)$0.0000158.08%
  • Lido Staked EtherLido Staked Ether(STETH)$1,659.440.84%
  • polkadotPolkadot(DOT)$6.84-0.15%
  • litecoinLitecoin(LTC)$98.36-0.57%
  • AvalancheAvalanche(AVAX)$20.98-0.51%
  • tronTRON(TRX)$0.0644431.82%
  • UniswapUniswap(UNI)$7.231.94%
  • daiDai(DAI)$1.000.07%
  • cosmosCosmos Hub(ATOM)$14.63-0.61%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,343.000.21%
  • chainlinkChainlink(LINK)$7.200.43%
  • ToncoinToncoin(TON)$2.320.06%
  • ethereum-classicEthereum Classic(ETC)$23.732.34%
  • leo-tokenLEO Token(LEO)$3.501.57%
  • moneroMonero(XMR)$172.990.57%
  • AptosAptos(APT)$16.640.93%
  • bitcoin-cashBitcoin Cash(BCH)$137.230.26%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.0930270.69%
  • ApeCoinApeCoin(APE)$5.87-0.78%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.502.39%
  • CronosCronos(CRO)$0.0834751.79%
  • filecoinFilecoin(FIL)$5.51-0.99%
  • QuantQuant(QNT)$142.74-0.82%
  • algorandAlgorand(ALGO)$0.2682990.43%
  • HederaHedera(HBAR)$0.0732433.55%
  • Lido DAOLido DAO(LDO)$2.18-3.85%
  • vechainVeChain(VET)$0.0248531.28%
  • FantomFantom(FTM)$0.61-1.88%
  • Internet ComputerInternet Computer(ICP)$5.922.17%
  • decentralandDecentraland(MANA)$0.78-0.25%
  • The SandboxThe Sandbox(SAND)$0.772.35%
  • Axie InfinityAxie Infinity(AXS)$11.512.47%
  • AaveAave(AAVE)$88.74-1.02%
  • eosEOS(EOS)$1.100.91%
  • FlowFlow(FLOW)$1.160.29%
  • MultiversXMultiversX(EGLD)$46.542.12%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000194-1.07%
  • theta-tokenTheta Network(THETA)$1.132.81%
  • tezosTezos(XTZ)$1.193.88%
  • FraxFrax(FRAX)$1.00-0.03%
  • The GraphThe Graph(GRT)$0.11113812.41%
  • true-usdTrueUSD(TUSD)$1.000.06%
  • huobi-tokenHuobi(HT)$5.772.87%
  • paxos-standardPax Dollar(USDP)$1.000.11%
  • kucoin-sharesKuCoin(KCS)$8.810.60%
  • bitcoin-cash-svBitcoin SV(BSV)$43.390.37%
  • havvenSynthetix Network(SNX)$2.674.00%
  • Curve DAOCurve DAO(CRV)$1.09-0.73%
  • ChilizChiliz(CHZ)$0.1451050.56%
  • PancakeSwapPancakeSwap(CAKE)$4.565.90%
  • Rocket PoolRocket Pool(RPL)$40.390.38%
  • Frax ShareFrax Share(FXS)$10.35-4.23%
  • eCasheCash(XEC)$0.0000390.93%
  • BitTorrentBitTorrent(BTT)$0.0000011.48%
  • USDDUSDD(USDD)$0.990.10%
  • ImmutableXImmutableX(IMX)$0.91-3.47%
  • Trust WalletTrust Wallet(TWT)$1.680.46%
  • iotaIOTA(MIOTA)$0.2485544.15%
  • BitDAOBitDAO(BIT)$0.580.37%
  • Mina ProtocolMina Protocol(MINA)$0.82-2.79%
  • dashDash(DASH)$60.79-0.99%
  • KlaytnKlaytn(KLAY)$0.2131311.41%
  • GateGate(GT)$4.50-0.53%
  • OptimismOptimism(OP)$2.97-1.18%
  • makerMaker(MKR)$704.031.51%
  • neoNEO(NEO)$8.77-0.53%
  • cUSDCcUSDC(CUSDC)$0.0227400.01%
  • ArweaveArweave(AR)$11.90-1.87%
  • zcashZcash(ZEC)$46.15-0.53%
  • GMXGMX(GMX)$70.25-4.44%
  • OKCOKC(OKT)$32.577.82%
  • RadixRadix(XRD)$0.057227-3.05%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.14%
  • cDAIcDAI(CDAI)$0.0221800.08%
  • THORChainTHORChain(RUNE)$1.86-0.73%
  • OsmosisOsmosis(OSMO)$1.05-3.69%
  • Tokenize XchangeTokenize Xchange(TKX)$6.811.00%
  • RenderRender(RNDR)$1.818.22%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • loopringLoopring(LRC)$0.401910-1.50%
  • PAX GoldPAX Gold(PAXG)$1,863.30-0.03%
  • zilliqaZilliqa(ZIL)$0.030237-4.44%
  • enjincoinEnjin Coin(ENJ)$0.4838253.39%
  • Convex FinanceConvex Finance(CVX)$6.52-1.12%
  • Baby Doge CoinBaby Doge Coin(BABYDOGE)$0.00000046.94%
  • cETHcETH(CETH)$33.491.03%