The UK Jurisdiction Taskforce ('UKJT') understands that such practitioners would welcome guidance and certainty as to how various aspects of the English insolvency law regime apply to issues involving digital assets. 

Further, the UKJT has been advised that greater certainty, in that respect, would potentially assist investors when choosing English law as the governing law for e.g. debt instruments, or selecting England as a forum for pre-insolvency restructuring or a formal insolvency (and, if a formal insolvency, selecting which type of procedure to use).

The purpose of the proposed Legal Statement is accordingly to offer such guidance and promote certainty, by seeking to answer questions relating to the application of English insolvency law principles to digital assets.  A draft set of such questions is set out in the Annex to this consultation paper. The purpose of this consultation is to seek input from key stakeholders on this list of questions. 

R3's response below.