NEW: The U.K. government should set up a tailored legal framework for using crypto as collateral and treat digital assets as a new type of property, Law_Commission says. By iamsandali
The U.K. should create a tailored framework for using crypto as collateral, a Law Commission funded by the Ministry of Justice said in a Wednesday report.
. It also wants the government to set up “a panel of industry-specific technical experts, legal practitioners, academics and judges” to advise courts on complex legal issues relating to digital assets. While the legal systems of England and Wales are well-placed to support the U.K. government’s attempts to bring crypto into the scope of existing legal frameworks, some areas may need specialized treatment to accommodate digital assets, the Commission said in a press statement shared with CoinDesk.
“As such, we recommend that, as a matter of priority, the Government sets up a multi-disciplinary project to formulate and put in place a bespoke statutory legal framework that better and more clearly facilitates the entering into, operation and enforcement” of certain crypto collateral arrangements, the commission said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Piero Ferrari's Bespoke Purosangue Is Inspired By Enzo's 400 Superamerica | CarscoopsThe Verde Dora exterior creates the perfect combination with the Jade Brown leather inside the cabin car auto cars
Read more »
Pa. Game Commission’s first foray into selling licenses online ‘an absolute disaster’ | Today in Pa.90,000 Pennsylvanians lose Medicaid. Orchestra antitrust lawsuit. Doe hunting licenses online. Gettysburg bear.
Read more »
Cleveland Community Police Commission member argues with activist, leading to altercationBut during a June 14 meeting, tensions ran high between a commissioner and community activist, leading to the two coming face-to-face during a verbal altercation.
Read more »
New Mechanisms in Major Depressive Disorder: What the Busy Clinician Needs to Know🖥️ Important CME to take ➡️ New mechanisms in major depressive disorder: What the busy clinician needs to know. MDD 🗒️ Click here to learn:
Read more »
Google Pixel Fold review: The challenger that Samsung needs | EngadgetDespite being Google's first attempt at making a flexible phone, the Pixel Fold brings a lot of interesting design tweaks to the space, which makes it a very worthy rival to Samsung's Galaxy Z Fold line..
Read more »
Bumbling, tumbling Biden needs to be saved from himselfPresident Biden’s constant verbal gaffes get way more serious when he says things that contradict current US government policy.
Read more »