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#DigitalAssetBill

The Property (Digital Assets Etc.) Bill is a proposed law in England and Wales that clarifies digital assets, such as crypto-tokens, can be recognized as property, even if they don't fit traditional categories. This bill aims to provide certainty and protection for individuals and businesses owning or transacting with digital assets.

*Key Aspects:*

- *Property Rights*: Confirms digital assets can attract property rights, ensuring owners have legal protections and remedies.
- *Third Category*: Recognizes a third category of personal property beyond traditional "things in possession" and "things in action".
- *Court Development*: Allows courts to develop and apply the law on a case-by-case basis, providing flexibility for new digital assets.
- *Benefits*:
- *Certainty and Protection*: Provides legal certainty and protection for digital asset owners.
- *Decreased Litigation*: Reduces litigation costs by clarifying digital assets' property status.
- *Attractive Jurisdiction*: Maintains England and Wales as an attractive place for crypto-asset litigation ¹.

The bill has undergone several stages, including its introduction to the House of Lords and a second reading in Grand Committee. A factsheet has also been published to provide more information on the bill's purpose and benefits ² ³.