United Kingdom: 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 the UK's common law system to accommodate existing and new types of digital assets. The Commission proposes, among others, a legal framework to recognise a distinct category of personal property for digital assets and suggests forming a panel of experts to address technical and legal issues.