Legal jurisdictional issues relating to cryptocurrencies and digital assets have necessitated a law reform project sponsored by the Ministry of Justice.

The Law Commission of England and Wales hopes to establish the United Kingdom as a leading jurisdiction for grappling with legal disputes involving emerging technologies like cryptocurrencies, digital assets and electronic documentation.

The project, dubbed "Digital Assets: Which Law, Which Court?" was announced on Oct. 18 with the aim of reviewing international legal challenges involving cryptocurrencies and providing recommendations for legal reform in the United Kingdom.