UKJT report explains control of digital assets under English law
LawTech UK has published a report, prepared by the UK Jurisdiction Taskforce (UKJT), explaining how the legal concept of control applies to digital assets under the law of England and Wales. The report, prepared following a request from the Lord Chancellor and building on the Law Commission’s 2023 work, focuses on third category digital assets and emphasises factual control—the ability to exclude others, permit access, and use a digital asset—as the key concept underpinning proprietary rights, rather than traditional notions of possession. The report highlights that control in blockchain systems operates differently from traditional systems due to the absence of a central operator and reliance on private keys, digital signatures, and protocol rules (‘code is law’). It outlines multiple forms of control and notes that control is a complex, fact-specific concept shaped by technology, governance and market practice. The report is intended as a practical guide for courts and legal practitioners, supporting the development of consistent legal analysis as digital asset technologies evolve.