English law recognizes cryptoassets and smart contracts

DWF reports strong growth for International & Connected Services…

English law recognizes cryptoassets and smart contracts

English law recognizes cryptoassets and smart contracts
The increasing adoption of cryptoassets and smart contracts has created legal uncertainty in many jurisdictions.

But a statement by the UK Jurisdiction Taskforce of the Lawtech Delivery Panel says that English law will now recognize cryptoassets as tradable property and smart contracts as enforceable agreements.

The panel says the statement supports the view that smart contracts and cryptoassets represent the future in legal terms; and Sir Geoffrey Vos, chancellor of the High Court said that starting with the legal status makes more sense than introducing regulation before legal status has been established.

DWF reports strong growth for International & Connected Services
Global legal services firm DWF has reported strong results for the half year ended October 2019.

Its International operations saw a 28% growth in revenue while its alternative legal services business, Connected Services, grew 18%. Overall Group revenue was up by not less than 10%.

Net partner headcount increased by 20 and there were new openings in Europe.

The Board says it remains confident that the firm will deliver further revenue and profit growth in line with management's expectations.

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