Description

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.

Original source

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2024-09-11
under deliberation

On 11 September 2024, the UK government has introduced the Property (Digital Assets etc) Bill in Pa…

2024-11-19
in consultation

On 19 November 2024, the Special Public Bill Committee launched a consultation on the Property (Dig…

2024-12-20
processing consultation

On 20 December 2024, the Special Public Bill Committee closes a consultation on the Property (Digit…

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