PromptUnder English law, what criteria from the UKJT Legal Statement must a cryptoasset satisfy to be treated as property, and how is the requirement of 'control' evaluated?
Click to flip AnswerThe UKJT Legal Statement requires definability, identifiability by third parties, permanence, and control. Control is assessed by whether a person can exercise dominion over the asset (e.g., through knowledge and management of a private key) and exclude others from asserting control, even if others could in theory also control it.
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