Litigation concerning cryptoassets and smart contracts is ‘increasing significantly’, the Master of the Rolls, Sir Geoffrey Vos has revealed
Speaking at the launch of LawtechUK’s Smarter Contracts report, in London in February, Sir Geoffrey said blockchain was at the stage now that the internet was at in 1995, and ‘would become “ubiquitous” simply because ‘it allows for the immutable recording of data’. He said a sub-committee of the Civil Procedure Rules Committee is currently drafting rules for serving proceedings out of jurisdiction to trace cryptoassets abroad, as this is a major obstacle when tackling crypto fraud.
