Groundbreaking rules published to enable rapid resolution of blockchain and crypto legal disputes, as worldwide smart contract market expected to reach $345.4 million by 2026[1]
In November 2019 the UKJT published its well-received legal statement on the status of cryptoassets and smart contracts under English and Welsh law .
- In November 2019 the UKJT published its well-received legal statement on the status of cryptoassets and smart contracts under English and Welsh law .
- The legal statement was a significant step by the UK towards legal certainty for blockchain technology and crypto assets.
- The Rules aim to provide a process for speedy and cost-effective resolution of disputes originating digitally.
- The smart contracts market alone is set to reach $345.4 million by 2026.