#DigitalAssetBill The Digital Asset Bill, formally known as the Property (Digital Assets etc) Bill, is a proposed law in the UK that aims to clarify the legal status of digital assets, such as cryptocurrencies, non-fungible tokens (NFTs), and carbon credits. Here's what you need to know ¹ ²:

- *Purpose*: The bill seeks to establish that digital assets can be considered personal property under English and Welsh law, providing them with legal protection.

- *Key Provisions*:

- *Third Category of Property*: The bill introduces a third category of property, "thing", which includes digital assets that don't fit into traditional categories of property.

- *Legal Protection*: Digital asset owners will have enforceable action in cases of fraud, theft, and disputes, and will be included in bankruptcy and insolvency procedures.

- *Benefits*:

- *Increased Clarity*: The bill will provide clarity on the legal status of digital assets, reducing uncertainty and potential disputes.

- *Improved Security*: The bill aims to improve security for digital asset owners by providing legal recourse against fraud and scams.

- *Growth of UK's Digital Economy*: The bill is expected to support the growth of the UK's digital economy by providing a clear and stable regulatory framework.

The bill has undergone several stages in the UK Parliament, including ³ ⁴:

- *Introduction*: The bill was introduced in Parliament on September 11, 2024.

- *Committee Stage*: A Special Public Bill Committee examined the bill in February 2025.

- *Report Stage*: The bill underwent further scrutiny in the House of Lords in April 2025.

- *Next Steps*: The bill is scheduled for its third reading in the House of Lords on May 8, 2025.