On Friday 4 November, ISLA submitted a response to the UK Law Commission’s Digital Assets Consultation paper. The topic of the consultation covered proposals for law reform with regards to certain digital assets as objects of property rights.
In the response, ISLA focused on matters related to the intermediated securities market, including the way in which securities may be tokenised or issued in digital asset form.
ISLA also outlined questions relating to financial collateral, and the extent to which current market practice in the securities lending industry may be relevant to broader questions relating to financing using cryptocurrencies or other digital assets (either as the finance currency or as the collateral).
ISLA’s full response can be found here.
The Law Commission’s Digital Assets Consultation paper can be found here.
Visit ISLA’s Digital & Fintech pages to learn more about these topics.