You might not lawmaking, but you have to give credit to the English Law Commission for creating this breathtakingly short bill on digital assets. In short the bill recognizes that digital assets can exist independently of legal strictures (in contrast to the other ‘things’) and should be regarded separately as such.

This bill comes after four years of consultation, a 1000 page consultation report and an 80 page final report where you can dig deep into the theory of personal property.

This is in absolute stark contrast to the EU, where they are writing regulations (laws) that bleed into the thousands of pages.

In the end, I am a big fan of the common law approach, where generalized principles are set out and then gradually refined by the courts and rulings. Once again, unlike the EU, where an appointed bureaucracy (European Commission) tries to figure out everything beforehand and then try to convince the EU parliamentarians to enact their massive bills.