UK recognizes cryptocurrencies as property
A recently passed law by the UK Parliament recognizes digital assets as a third category of property, setting a crucial precedent in the cryptocurrency world
The UK Parliament took a significant step in the cryptocurrency market with the passage of the Property Act 2025, which recognizes them as a third category of property.
This means that Bitcoin and other digital assets are now considered property, independent of physical objects and contractual rights.
The law – the Property (Digital Assets etc.) Act 2025 – received Royal Assent from King Charles III on Tuesday, December 2, “marking a milestone in the regulation of digital finance in the country. The new legislation responds to a recommendation from the UK Law Commission issued in 2023 and was introduced in the House of Lords in September 2024.”
British courts had previously treated cryptocurrencies as property in individual, case-by-case rulings. The new law creates a specific category for assets such as Bitcoin, stablecoins, and non-fungible tokens (NFTs).
This parliamentary decision provides “greater clarity and protection for consumers and investors by ensuring that digital assets can be clearly owned, recovered in cases of theft or fraud, and incorporated into insolvency or inheritance proceedings.”
The law provides stronger legal avenues for “proving ownership, handling disputes, and offering protection in related crimes or litigation.”
M.Pino
Source: diariobitcoin
(Reference image source: R Spegel on Unsplash)
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