CryptoUK Joint Response to the Law Commission Report: Digital Assets and (Electronic) Trade Documents in Private International Law (5th June 2025) (“the Consultation”)
CryptoUK, alongside a broad coalition of leading law firms, professional organisations, and industry bodies, has submitted a joint response to the Law Commission’s consultation on Digital Assets and (Electronic) Trade Documents in Private International Law.
The response—authored collectively by Bird & Bird, Burges Salmon, Charles Russell Speechlys, CMS, CryptoUK, Forsters, Knightbridge Tax, Mishcon de Reya, Mourant, Penningtons Manches Cooper, Quastels, Simmons & Simmons, STEP (the Society of Trust and Estate Practitioners), and Withers—reflects a unified industry view on key legal issues surrounding the law of situs for cryptoassets.
The signatories commend the Law Commission’s leadership in addressing challenges associated with “omniterritorial” assets and advocate for a clear lex situs approach based on the residence of the private key controller. This position, they argue, provides legal certainty, consistency across areas such as tax and succession law, and strengthens the UK’s position as a leading jurisdiction for digital assets.
The response urges the Law Commission to confirm this approach in its final report, aligning the rules for international jurisdiction and applicable law to ensure coherence and predictability for courts and market participants alike.
Click here to download the full joint response.
