#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 like cryptocurrencies, NFTs, and carbon credits. Here's what you need to know:

Key Provisions

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

- *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 ¹ ².

Benefits

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

- *Improved Security*: Owners will have legal recourse against fraud and scams.

- *Growth of UK's Digital Economy*: The bill supports the growth of the UK's digital economy by providing a clear regulatory framework ¹.

Progress

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

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

- *Next Steps*: The bill is scheduled for its third reading in the House of Lords on May 8, 2025 ³ ⁴.