UK Government Proposes New Bill to Enhance Digital Asset Recognition
CryptoNewsTerminal Staff11 Sep, 2024
UK Government Proposes New Bill to Enhance Digital Asset Recognition
The UK government has introduced a bill to Parliament aiming to recognize digital assets as personal property, including cryptocurrencies, NFTs, and tokenized real-world assets (RWAs). This move aligns with the draft bill proposed by the UK Law Commission earlier this year, which sought to categorize digital assets as personal property. The bill, if enacted, will establish a legal framework for enforcing property rights related to digital assets. This recognition will provide clarity and security for individuals and businesses operating in the digital asset space, fostering innovation and growth within the UK's digital economy.
