By Dr Stephen Castell CITP MEWI and Jonathan Bolls, Attorney at Law
Abstract
The Law Commission’s proposed Property (Digital Assets etc) Act 2024, seeking to create a new categorisation of cryptocurrencies as property, is unnecessary. ‘Crypto’ is an algorithmic data object, an unremarkable example of, and exactly like, any such assemblage of digitally created and recorded 1s and 0s. The Law Commission has again misunderstood the essential technical truths of computer science. It is attempting to put in place another egregious legal construct potentially as damaging as its 1999 introduction of the incorrect ‘legal presumption of the reliability of computer evidence’. This situation is arguably now clear evidence of a wider problem: the Law Commissioners do not include any professio...
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