UK Legalizes Crypto as Property

The United Kingdom has officially recognized digital assets, like cryptocurrencies, as a form of property, providing improved legal protections and clarity for British citizens who own crypto. This new law, which builds on previous court decisions and recommendations from the Law Commission, creates a clearer legal framework for cases involving theft, inheritance, and bankruptcy. It defines a thing of a digital or electronic nature as a form of personal property, supporting the growth of new financial products and more secure digital markets. The law intentionally avoids defining exactly which digital assets fall under this new category, allowing judges to adapt their interpretations as technology continues to evolve.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.