The category of property into which cryptoassets are placed has wide implications in areas such as insolvency, security and tax. Two rival schools of thought have developed and the ongoing confusion has led to legal uncertainty. In this article (see here) we consider:
- The correct categorisation based on a principled explanation of why different categories of property exist and how they apply to cryptoassets;
- How the courts should treat cryptoassets; and
- How laws on property affect cryptoassets in FinTech.
The article first appeared in the February 2021 issue of Butterworths Journal of International Banking and Financial Law.