Cryptoassets are traded on a global basis. Indeed, the markets are even more global and constant than markets in more conventional financial instruments, rivalled only perhaps by the FX markets in their reach.
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On 1 October 2017, the Pre-Action Protocol for Debt Claims (Protocol) will come into force. It will apply to all debt claims where:
- the creditor is a business (including sole traders and public bodies)
- the debtor is an individual (including sole traders), and
- no other specialised Protocol applies.
Why is this new Protocol being introduced?
The express purpose of the new Protocol is to:
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