#DigitalAssetBill #DigitalAssetBill

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 and non-fungible tokens (NFTs), as personal property. Here's what you need to know :

Purpose : The bill seeks to establish a third category of personal property, beyond traditional tangible objects and rights-based assets, to accommodate digital assets.

Key Provisions:

Digital Assets as Property : Clarifies that digital assets can be considered property, attracting property rights and protections under the law.

Crypto-Assets and NFTs : Specifically mentions crypto-tokens, crypto-currency, and NFTs as examples of digital assets that could fall under this new category.

Guidance on Technical and Legal Issues : The UK Jurisdiction Taskforce (UKJT) will provide guidance on technical and legal issues related to digital assets.