Lighthouse on
Digital Assets.
The law of digital assets in one reference, from property and commercial law to custody, fiduciaries, insolvency, tax and regulation, for the counsel who hold, transfer, plan for and recover digital assets.
By the Lighthouse Editorial Board · First Edition
Why it matters
A digital asset raises property, custody and succession questions at once.
Property, control and custody
Characterization as property in the United States and the common-law world, situs and governing law, UCC Article 12 and controllable electronic records, security interests, custody models and the custodial relationship.
Fiduciaries, entities and succession
Fiduciary access under RUFADAA, trustee duties and directed trusts, loss of keys, LLCs, foundations, DAOs and DAO LLCs, estate planning, key succession and recovery arrangements, and estate administration.
When things go wrong
Creditor remedies, tracing, freezing orders and cross-border recovery, voidable transfers, customer claims in bankruptcy, the exchange and lender failures, valuation dates and avoidance actions.
Tax, AML and the regulatory perimeter
Federal income tax, broker reporting on Form 1099-DA, CARF, DAC8 and FATCA, AML and the travel rule, sanctions, securities and commodities regulation, stablecoins, and MiCA, the Gulf, the offshore centers and Asia-Pacific.
40 chapters · 7 appendices · 1,846 printed pages · 285 cases
Inside the pages
Set like the great treatises, built to be used.
Which Law Governs a Security Interest
Figure 7.6 shows how the 2022 amendments split the law governing a security interest in a controllable electronic record. Perfection by filing follows the law of the debtor's location; control, the effect of perfection and priority follow the law of the record's own jurisdiction (¶ 780.01).
The record's jurisdiction is set by a waterfall under U.C.C. § 12-107(c): a designation for Article 12 or the UCC in the record, then the same designation in the system's rules, then a general governing-law clause in the record, then one in the system's rules, and otherwise the District of Columbia (¶ 780.02).
Included in the appendices
Model Provisions and Forms
The appendices give counsel drafting material and working checklists for digital assets, each tied to the paragraphs that explain it.
Who wrote it
Written by the people who wrote the statutes.
Lighthouse on Digital Assets is prepared by the Lighthouse Editorial Board. Its Editor-in-Chief is one of the primary authors of the Cook Islands Limited Liability Companies Act and led the committee that drafted the 2015 amendments to the Nevis International Exempt Trust Ordinance.
The Board has contributed to limited-liability-company and asset-protection-trust legislation in Nevis, Belize, Wyoming, Delaware, Ohio and North Carolina, and draws on the practice of Lighthouse Trust, a multinational trust company established in 1982 and resident across nine jurisdictions.
Plans and pricing
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All payments are final and are not refunded; see the Library Terms. The library's treatises are reference works for professionals. They are not legal advice, and reading them creates no client relationship with Lighthouse Trust. Prices are in US dollars, and tax is added where it applies.
What's inside
11 Parts, from first principles to practice.
- Part IFoundationsChapters 1–5
- Part IICommercial Law: Control, Transfer and Security InterestsChapters 6–8
- Part IIICustody and ControlChapters 9–12
- Part IVFiduciaries and Digital AssetsChapters 13–16
- Part VEntities, Foundations and DAOsChapters 17–20
- Part VIEstates and SuccessionChapters 21–23
- Part VIICreditors, Enforcement and RecoveryChapters 24–26
- Part VIIIInsolvencyChapters 27–29
- Part IXTax and Information ReportingChapters 30–32
- Part XAnti-Money Laundering, Sanctions and the Travel RuleChapters 33–34
- Part XIThe Regulatory PerimeterChapters 35–40
- AppendicesAppendices A–G
Lighthouse on Digital Assets
Begin with Chapter 1, free to read.
Chapter 1, Digital Assets and the Law: Scope, Taxonomy and Terminology, is open to every reader without a subscription.
Read Chapter 1