#DigitalAssetBill O "Digital Asset Bill" (in Portugal, generally translated as "Digital Assets Bill" or "Digital Assets Law") refers to a bill in various countries, including the United Kingdom, that seeks to clarify and update the legal framework for digital assets, such as cryptocurrencies and non-fungible tokens (NFTs). The legislation aims to ensure that these assets are considered personal property, with the same rights and legal protections as other forms of property, such as tangible goods.

In detail:

Clarifying the legal nature:

The bill seeks to clarify that digital assets can be considered "property," even if they do not fall into the traditional categories of "things in possession" or "things in action" (such as credit rights), which are the most traditional forms of personal property in many legal systems.

Extending legal protection:

By recognizing digital assets as property, the bill aims to ensure that they have the same legal protections as other forms of property, such as protection against theft, loss, or damage, and the possibility of being the subject of contracts and other legal transactions.

Facilitating dispute resolution:

The bill may also help facilitate the resolution of disputes related to digital assets, providing a clear legal framework for determining who holds rights over specific digital assets.

Adapting to technological evolution:

The legislation aims to adapt the law to technological evolution, recognizing that digital assets are increasingly important in the global economy and need to be properly treated by the legal system.

Example:

In the United Kingdom, the Property (Digital Assets etc) Bill seeks precisely this. It was introduced by the government to clarify the legal status of digital assets, ensuring that they can be considered personal property and that their owners have the same rights and legal protections as owners of other types of property.