One thought on “Can security be granted over a cryptoasset?

  1. Arti says:

    The Legal Statement concludes that a smart contract is capable of satisfying the requirements of a legal contract under English law. It says that smart contracts are not alternative, in principle, from more traditional contracts. Cryptoassets cannot be the subject of bailment because bailment involves the transfer of possession. This means that no lien can be created over a cryptoasset and a cryptoasset cannot be the object of a pledge. Cryptoassets are intangible and cannot be possessed. The authors of the Legal Statement state that an electronic signature produced using public key cryptography is just a particular type of electronic signature, and can evidence that crucial intention to authenticate. One of the key issues in relation to electronic signatures is whether or not the “signature” in dispute was applied with an intention to authenticate the arrangement. The Legal Statement goes further and says that a statutory requirement for a signature is highly likely to be capable of being met by means of a private key. The Legal Statement goes further and says that a statutory requirement for a signature is highly likely to be capable of being met by means of

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