Digital Policy Alert logo

United Kingdom: UK Law Commission proposed reforms for digital assets, NFTs and other crypto-tokens

Progress

Current status
adopted
28 Jun 2023 adopted
04 Nov 2022 processing consultation
28 Jul 2022 in consultation

Scope

Implementers
United Kingdom
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national

Timeline of events

28 Jun 2023
adopted

Published Final Report on Proposed Reforms for Digital Assets

On 28 June 2023, the UK Law Commission published the final report with its proposed legal reforms and recommendations for the regulation of digital assets, NFTs and other crypto-tokens. The Law Commission's final report recommends reforms to enable …

Source
Event type outline
Action type adoption
Government branch executive
Government body other regulatory body
04 Nov 2022
processing consultation

Consultation closed on paper proposing law reforms on digital assets

On 4 November 2022, the United Kingdom (UK) Law Commission closed the public consultation on its paper proposing law reforms on digital assets, including NFTs, crypto-tokens and crypto-assets. The reform proposals seek to ensure that the UK legislat…

Source
Event type outline
Action type consultation closed
Government branch executive
Government body other regulatory body
28 Jul 2022
in consultation

Consultation opened on paper proposing law reforms on digital assets

On 28 July 2022, the United Kingdom (UK) Law Commission opened a public consultation on its paper proposing law reforms on digital assets, including NFTs, crypto-tokens and crypto-assets. The reform proposals seek to ensure that the UK legislation r…

Source
Event type outline
Action type consultation opened
Government branch executive
Government body other regulatory body