#AppleCryptoUpdate The Digital Asset Bill you're referring to is likely the Property (Digital Assets etc) Bill introduced in the UK Parliament. Here's what you need to know ¹ ²:

- *Purpose*: This bill aims to clarify the legal status of digital assets, such as cryptocurrencies, non-fungible tokens (NFTs), and carbon credits, as personal property under English and Welsh law.

- *Key Provisions*:

- *Third Category of Property*: The bill introduces a third category of personal property, allowing digital assets to attract property rights without fitting into traditional categories of "things in possession" or "things in action".

- *Increased Legal Protection*: Owners of digital assets will benefit from greater legal protection against fraud and scams, and judges will be better equipped to handle complex cases involving digital holdings.

- *Progress*: The bill has undergone several stages, including introduction in the House of Lords, second reading, committee stage, and report stage. It's currently scheduled for its third reading on May 8, 2025.

- *Impact*: This legislation is expected to ² ³:

- Keep English and Welsh law at the forefront of the global tech industry

- Attract more business and investment to the legal services industry

- Provide clarity in complex property cases involving digital assets

The bill is a response to the Law Commission's report in 2023, which concluded that certain digital assets are capable of attracting personal property rights. By providing clarity on the legal status of digital assets, this bill aims to support the growth of the digital economy in the UK ¹.