A report providing legal and regulatory guidance on distributed ledger technology (DLT) has been published by The Law Society, working in conjunction with the Tech London Advocates’ Blockchain Legal and Regulatory Group. The report follows the Legal Statement on the status of Cryptoassets and Smart Contracts published by the UK Jurisdiction Taskforce in November 2019. It suggests best practice for legal practitioners working on transactions involving cryptoassets, smart contracts and other DLT applications and addresses key legal and regulatory issues concerning such technologies including the interaction between intellectual property and cryptoassets, the regulation of cryptoassets, dispute resolution mechanisms and data protection and data governance in DLT systems.
Craig Orr QC co-authored the guidance on dispute resolution mechanisms which considers (among other things) the questions of jurisdiction and applicable laws in the context of cryptoassets and other DLT applications.
A copy of the report is available here. It is also available on the resources – Research Page and Law Tech Page on The Law Society’s website.