Jurisdiction(s):
United Kingdom

Key definition

SEC definition

What does SEC mean? In legal practice, SEC means the US securities and exchange commission, the federal regulator of US securities markets and enforcer of federal securities laws. Created under the US Securities Exchange Act of 1934, and administering the Securities Act of 1933 among other statutes, the term is a descriptive shorthand in UK and Irish practice for that authority. The SEC is engaged when UK or Irish issuers, shareholders, banks or advisers access US capital markets, including registered offerings, Rule 144A/Regulation S transactions, US listings/ADRs on NYSE or Nasdaq, and mergers with a US securities element. Its regime drives registration, disclosure...

Cryptoassets and corporate insolvency: legal status, tracing and control, cross-border recognition, crypto-denominated claims, realisation strategies, office-holder risks and emerging regulatory reforms

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

CryptoAssets—the basics

At its most basic, cryptoassets are a type of digital currency that uses cryptography to validate transactions conducted in that currency. Functioning without a central authority, they provide near-instant, pseudonymous transfers, operating outside the conventional banking system.

For further reading on the formation of cryptoassets, see:

Fintech—overview
Cryptoassets—overview
Practice Note: Web 3.0, digital assets and cryptoassets—essentials

Insolvency and restructuring in the context of cryptoassets

This Practice Note examines issues an insolvency professional (including an insolvency practitioner (IP)) may encounter when appointed to handle a cryptoasset-related insolvency. It does not address the position of cryptoassets within personal bankruptcy.

Although it is broadly accepted that legal and regulatory scrutiny of cryptoassets lags behind, legislators and regulators—alert to their rapid expansion and market capitalisation—are swiftly strengthening existing frameworks or crafting new regimes.

For further information, see Practice Notes:

UK regulation of cryptoassets
EU regulation of cryptoassets
Supranational approach to the regulation of cryptoassets

Focusing on the likely effects of a cryptoasset-related insolvency, it is apparent that the routes to restructuring, asset recovery, or winding...

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Web page updated on 21/05/2026

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