ARTICLE · 31 AUGUST 2023

Crypto Currency: Will 2023 Be The Year Regulation Catches Up With Digital Assets?

King & Wood Mallesons

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The UK Government's consultation on what it calls a "world first" new regime of cryptocurrency regulations promises to bring the regulation of digital assets closer in line with traditional financial instruments.

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Romy Descours-Karmitz

THE UK CONTINUES TO PLAY A LEADING ROLE IN THE REGULATION OF CRYPTOCURRENCY AND DIGITAL ASSETS

The UK Government's consultation on what it calls a "world first" new regime of cryptocurrency regulations promises to bring the regulation of digital assets closer in line with traditional financial instruments.

Similar developments in English law jurisprudence, most recently in the Tulip Trading Ltd case, portend greater regulation, scrutiny of and potential responsibility for actors in the blockchain. The case, and others we have previously reported on, show that, independent of current pending legislation, the common law will step in where the facts require. They also indicate a potential, incremental development of legal concepts (such as fiduciary duties) to deal with this novel asset class.

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