Key proposals include:
➡️ The creation of a free-standing information order to empower claimants who have lost crypto through fraud and hacking;
➡️ Shifting from identifying a single applicable law to considering multiple factors, including parties' expectations and agreed protocol terms, to reach a fair outcome when dealing with fully decentralised distributed ledger technology; and
➡️ Modernising section 72 of the Bills of Exchange Act 1882 to clarify applicable law for both paper and electronic bills and notes, reducing the opportunity for fraudsters to exploit legal ambiguity.
➡️ The consultation underscores the urgent need for more robust legal safeguards and recovery options for those affected by fraud in digital finance.
🗓️ Firms have until 8 September 2025 to respond through the designated channels.
Digital Assets
Industry News
