UKJT Report on Control of Digital Assets
The report, prepared by the UK Jurisdiction Taskforce's Control Panel and published on 19 March 2026, provides technical, non-binding guidance for courts and legal practitioners on how digital assets are controlled in practice. The Panel was established at the invitation of the Lord Chancellor, following the Law Commission’s recognition that digital assets constitute a distinct ‘third category’ of property. The report emphasises that ‘control’ is a factual, functional concept, centred on the ability to exclude others, use and transfer an asset. It analyses various forms of control, including direct, multi-party, smart contract-based, delegated, and layered control, highlighting that real-world arrangements are often complex and overlapping. The report notes that the absence of a central operator and privacy-enhancing technologies may limit the effectiveness of traditional legal remedies. Overall, it points to a need for the law to develop incrementally in response to evolving technologies, with the courts adopting a flexible, context-specific approach focused on how control is in fact exercised in any given system.