#DigitalAssetBill The UK government has introduced a new bill to clarify the legal status of digital assets, including cryptocurrencies and non-fungible tokens (NFTs). Here are the key points:

- *Digital Assets as Personal Property*: The bill recognizes digital assets as personal property, providing legal protection to owners against fraud and scams.

- *Third Category of Property*: The bill introduces a third category of property, "thing", to accommodate certain digital assets, in addition to "things in possession" and "things in action".

- *Increased Clarity*: The bill aims to provide clarity on complex property cases involving digital assets, such as disputes or settlements in divorce cases.

- *Global Leadership*: The bill will help the UK maintain its position as a global leader in the crypto industry, attracting businesses and investment to the legal services sector ¹.

In Kenya, a similar bill, the Virtual Assets Service Providers Bill 2024, has been proposed to regulate virtual assets, including ²:

- *Licensing Requirements*: The bill requires virtual asset service providers to obtain a license from the Capital Markets Authority.

- *Definitions*: The bill defines various terms, including "airdrop", "asset-referenced token", "blockchain", and "crypto assets".