While cryptoassets have generally been accepted as a form of property in Commonwealth jurisdictions, it remains unclear how property rules apply. What is required for title to a cryptoasset to be legally transferred? Is a blockchain transaction necessary or sufficient for that purpose? If a transaction is unauthorised or procured by fraud, when (if ever) do subsequent purchasers take free of the original owner’s title? These questions are relevant, for example, to proprietary disputes in crypto litigation and the structuring of secured crypto-finance arrangements.
To get to the bottom of these questions, two foundational issues must be considered. First, what is the subject-matter of the property right? And second, what is the effect at law of a blockchain transaction? Despite their apparent simplicity, no clear answers have emerged. This presentation will examine some existing views, propose a potential approach, and consider its implications for title transfer rules relating to cryptoassets.
Timothy is a Sheridan Fellow at the National University of Singapore and an LL.M candidate at Harvard Law School. His research focuses on novel doctrinal and theoretical issues in property and trusts law, particularly concerning intangible property.
His work has appeared or is forthcoming in leading journals such as the Modern Law Review, the Law Quarterly Review, Legal Studies, and the Singapore Journal of Legal Studies.
Prior to joining the Faculty, Timothy practiced commercial litigation in a large firm.