QMIPRI Response to the Law Commission’s Digital Assets Consultation Paper
7 Pages Posted: 29 Nov 2022
Date Written: November 4, 2022
Abstract
This paper presents QMIPRI's response to the “Digital Assets: Consultation Paper” of the Law Commission of England and Wales. While the inquiry is a welcome exercise, and we have no ideological or doctrinal objection to a third category of property per se, we would argue that the Consultation Paper does not set out a clear rationale for a third category of property. Property is based on a social understanding of relationships – the legal rights of use, excludability and alienability in relation to a thing or asset. We can identify different normative justifications of property. The Law Commission's proposal focuses mainly on economic and social needs without necessarily considering the intra-legal relationships between different types of existing property rights.
Keywords: Digital Assets, Property Law, Non-fungible Tokens, Information Ownership, Possession
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