As per Coinotag, the UK has enacted the Property (Digital Assets etc) Bill into law, officially recognizing cryptocurrencies and stablecoins as personal property under property laws. The legislation, which received royal assent on Tuesday, provides clearer legal protections for digital asset owners, enhancing ownership rights, theft recovery, and integration into insolvency and estate processes. The law addresses ambiguities in existing property laws by confirming that electronic items can be treated as property rights objects, offering statutory clarity for digital assets not fitting traditional property categories. CryptoUK and the Law Commission of England and Wales have highlighted the bill’s role in streamlining legal proceedings and supporting innovation in digital finance.
UK Enacts Law Recognizing Bitcoin and Crypto as Personal Property
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