#DigitalAssetBill

This brief bill clarifies that certain digital assets, such as cryptocurrencies, can be considered property, even if they do not fall within the two traditional categories of personal property under English and Welsh law.

This will help provide certainty and protection for individuals and businesses that own and deal with these assets.

What does the bill do?

The bill confirms that certain digital assets - such as cryptocurrencies - can attract property rights even if they do not fall within the two traditional categories of personal property under English and Welsh law (please see details in the policy context section below).

In doing so, the bill responds to technological developments, ensuring that individuals and businesses using these assets have appropriate legal protection. This will bring practical benefits to these individuals and businesses (detailed below).

This bill intentionally does not specify which digital assets fall under the "third category" of personal property rights, or how the law will treat them. Instead, courts will determine these details, as they can handle each case individually. This is better than imposing strict rules in legislation, which may reduce its ability to respond flexibly to new circumstances and technological developments.$BNB