This research project explores how settled principles in private law and investment law can be applied to regulate cryptoasset transactions. Distributed ledger technology enabled the creation of alternative private payment systems, such as Bitcoin and Ether. Whether these digital tokens will gain currency in modern commerce depends on how receptive societies are to the use of payment systems which are not backed by state authorities. It is paramount that private law and regulatory rules are applied correctly to resolve any disputes between parties arising from transactions in and involving cryptoassets.

Governments have not remained idle. They have also begun exploring and developing Central Bank Digital Currencies (CBDCs). Inspired by the early successes of Bitcoin and the recent developments of ‘stablecoins’ – cryptocurrencies backed by assets, state authorities in countries like China and Singapore are exploring and developing CBDCs for specific purposes, like trade finance, or CBDCs which are intended to be used by the broader community generally. Foreign investors in these jurisdictions will benefit with greater clarity on how their investments held in or paid using CBDCs can be protected.