Cryptocurrencies’ Dispute Resolution - The UK Jurisdiction Taskforce's Digital Dispute Resolution Rules (2021)
Article by Celso De Azevedo – “Cryptocurrencies’ Dispute Resolution - The UK Jurisdiction Taskforce's Digital Dispute Resolution Rules (2021)”
On 22 April 2021, the UK Jurisdiction Taskforce of LawtechUK published its Digital Dispute Resolution Rules which provides that:
"The purpose of these rules is to facilitate the rapid and cost-effective resolution of commercial disputes, particularly those involving novel digital technology such as cryptoassets, cryptocurrency, smart contracts, distributed ledger technology, and fintech applications."
The Rules "may be incorporated into a contract, digital asset or digital asset system".
Importantly, the Rules provide that unless the parties have agreed otherwise, any dispute shall be subject to arbitration, with the assistance of an appointed expert where appropriate.
To download a PDF copy of the Rules, please Click Here
By Celso De Azevedo
Tel: +44 (0)20 7421 80512
Celso De Azevedo is a highly experienced international cyber, reinsurance and commercial dispute resolution barrister and qualified New York Attorney. He is regarded as a leader in the fields of high value international litigation and arbitration.