United Kingdom: Introduced Property (Digital Assets etc) Bill

On 11 September 2024, the UK government has introduced the Property (Digital Assets etc) Bill in Parliament, aiming to clarify the legal status of digital assets like Bitcoin, non-fungible tokens (NFTs), and carbon credits. In particular, these digital holdings will be recognised as personal property under English and Welsh law, providing increased legal protection against fraud and ensure clarity in cases where digital holdings are disputed. The Bill responds to recommendations from the Law Commission and aims to keep UK law at the forefront of global technology and legal sectors.