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Britain’s Law Commission has proposed that crypto be considered a separate category in English property law, a move that could pave the way for setting an international standard.
The Law Commission’s Sarah Green.
Photographer: Tom Skipp/BloombergVictoria Vergolina
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If you’ve ever found yourself outside of Bank Station on a rainy day in Central London, you’ll have a feel for exactly how the city came to be one of the world’s top financial centers. London’s convenient time zone, bustling city atmosphere, and impressive set of financial regulations have made it a top destination for banks and financial services companies to operate over the years. But when it comes to crypto, there’s an international gap in setting legal standards on digital assets, and the UK is no exception. The Law Commission of England and Wales — an independent regulatory body that advises the UK government on reform — has been tasked with rectifying that situation and getting London ahead of the pack.
In this episode, Emily Nicolle, Crypto blogger for Bloomberg News, is in for Stacy-Marie Ishmael. She’s joined by Sarah Green and Matthew Kimber from the Law Commission to discuss the proposals they’ve made to Westminster that could solve questions like who really owns their crypto, and what it means to codify blockchain into the legal system.
Follow us on Twitter @crypto, and subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter
