Darragh Connell

This Practice Note on crypto and digital assets for dispute resolution lawyers identifies the common characteristics of cryptoassets, their initial development via the Bitcoin White Paper, how cryptography works, the distinction between public and private keys, the concepts of nodes and mining (including proof of work and proof of stake), explains blockchain, identifies different types of digital asset, explains how crypto exchanges typically work and the emergence of regulatory obligations in this area.

Introduction to cryptoassetsIn general terms, cryptoassets are intangible assets which represent value or rights. They use distributed ledger technology (DLT) and cryptography to log and verify transactions. Cryptography uses code to verify and keep information secure. DLT uses a network of computers to keep a shared, rather than centralised, digital record of transactions. Cryptocurrencies are a subset of cryptoassets, including currencies such as Bitcoin, Ethereum or Tether. Other types of cryptoassets include utility tokens or non-fungible tokens. For further information on cryptoassets generally, see Practice Note: Crypto and digital assets—what are they and how do they work?Issues relating to cryptoassets have increasingly become commonplace in both corporate and personal insolvencies, reflecting their wider adoption as stores of value, investment assets and, in some cases, as the subject matter of lending, trading and custodial arrangements. Insolvency practitioners are often required to identify, value and realise cryptoassets as part of their duties in administering an insolvent estate.From a legal perspective, cryptoassets raise a number of questions which intersect directly with established principles of insolvency law. These include

This Practice Note on civil recovery of misappropriated cryptoassets identifies the potential methods for seeking recovery as well as explaining the difficulties, both legal and technical, in so doing given the nature of cryptoassets and the ease with which fraudsters may engage technical tools to avoid detection of the misappropriated assets. It includes reference to following and tracing of cryptoassets in the recovery process as well as interim relief in civil recovery of cryptoassets and the relevance of the Proceeds of Crime Act 2002 provisions with regard to civil recovery of cryptoassets.

This Practice Note on cryptoassets identifies the key points in the development of the legal status of digital and cryptoassets, including the 2019 UKJT Legal Statement on Cryptoassets and Smart Contracts, the 2019 decision in AA v Persons Unknown recognising that digital assets could constitute property under English law and why such status matters, the incremental development of this proposition through the case law, The Law Commission Report and the Property (Digital Assets etc) Bill and the decision in D’Aloia v Persons Unknown, being the first judgment following trial on the status of digital assets to materialise.

Under the constitutional monarchy, the monarch plays a key role, which has developed over time. This Practice Note examines the role of Head of State, the operation of conventions and royal prerogatives, the issue of confidentiality, the role of the monarch in opening and dissolution of Parliament, the process of Royal Assent on Bills from the legislature, and succession.

This Practice Note concerns the House of Lords in its existing form as part of the legislature, and not in its former capacity as also part of the judicial system. The House of Lords continues to play a vital role in reviewing and amending legislation.

All judges and magistrates are appointed by and derive their authority from the Crown so that the judicial branch operates independently of the executive and legislature. Focussing on England and Wales, this Practice Note explores the principles of judicial independence, impartiality and integrity, the appointment and disciplining of judges and their written judgments.

Royal Charters grant corporate personality to professional or charitable bodies, by the monarch. This Practice Note explores the process of establishment, amendment and surrender of Royal Charters and restrictions, including in relation to judicial review.

This Practice Note provides a brief overview of Directive 2004/109/EC of the European Parliament of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC (Transparency Directive), its history, content and implementation in the United Kingdom.