January 17, 2022

UK Institute Could Spot Crypto Regulation Gaps

A plan to develop a way to spot holes in United Kingdom’s regulations that failed to keep up with crypto and artificial intelligence (AI) innovations has been proposed by the technology advisor to the Lord Chief Justice, The Financial Times reported.

Richard Susskind, who also serves a director of LegalUK, the London-based think tank whose mission is to encourage the use of English law and U.K. dispute resolution globally, told the news outlet that an independent institute would spotlight sections of law that had failed to keep up with new technological innovations, including crypto assets and AI.

In addition, the new organization would promote English law to global companies as the way to govern innovations such as blockchain transactions.

“The business world will be changed by technology, and a challenge will be providing a platform for the supporting law for these new technologies,” Susskind said.

The proposal comes as attorneys express concern that England’s…

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