{"id":575902,"date":"2024-09-12T07:04:07","date_gmt":"2024-09-12T07:04:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=575902"},"modified":"2024-09-12T09:34:51","modified_gmt":"2024-09-12T09:34:51","slug":"landmark-uk-crypto-bill-recognizes-bitcoin-nfts-and-tokenized-assets-as-personal-property","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/landmark-uk-crypto-bill-recognizes-bitcoin-nfts-and-tokenized-assets-as-personal-property","title":{"rendered":"Landmark UK Crypto Bill Recognizes Bitcoin, NFTs, And Tokenized Assets As Personal Property"},"content":{"rendered":"<p>A UK crypto bill has been passed that recognizes <a href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-could-hit-90k-if-donald-trump-becomes-president-plunge-to-30k-if-its-kamala-harris-bernstein-says\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a>, Non-Fungible Tokens (NFTs), and tokenized assets as personal property under domestic law.<\/p>\n<p>The government announced the new legislation in a Sept. 11 <a href=\"https:\/\/www.gov.uk\/government\/news\/new-bill-introduced-in-parliament-to-clarify-cryptos-legal-status\"><span style=\"font-weight: 400;\">notice<\/span><\/a>, saying it will create a separate category for digital assets under UK law.<\/p>\n<p>Justice Minister Heidi Alexander said the bill will help protect digital asset holders from fraud and ensure UK laws keep up with emerging technologies.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/t4.ftcdn.net\/jpg\/02\/50\/45\/11\/360_F_250451179_oZi9ll7cLV5oUgmC22zj4ph5UQNdLpBz.jpg\" alt=\"Government Uk Images &ndash; Browse 64,414 Stock Photos, Vectors, and Video | Adobe Stock\"><\/p>\n<p>The law is seen aiding judges in handling complex cases involving digital holdings, while strengthening Britain&rsquo;s position in the fast-growing crypto space.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The UK has introduced a new bill that will allow crypto and other digital assets to be recognised as personal property. <\/p>\n<p>That means owners of digital assets will gain legal protection against fraud and scams. <\/p>\n<p>Read more about it here &#10145;&#65039; <a href=\"https:\/\/t.co\/ZJ5SPCta2D\">https:\/\/t.co\/ZJ5SPCta2D<\/a> <a href=\"https:\/\/t.co\/M6x6Xms1II\">pic.twitter.com\/M6x6Xms1II<\/a><\/p>\n<p>&mdash; Ministry of Justice (@MoJGovUK) <a href=\"https:\/\/twitter.com\/MoJGovUK\/status\/1834148280588210324?ref_src=twsrc%5Etfw\">September 12, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span style=\"font-weight: 400;\">UK Crypto Bill Could Take Months To Come Into Effect<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Earlier this year, the Law Commission published <\/span><a href=\"https:\/\/s3-eu-west-2.amazonaws.com\/cloud-platform-e218f50a4812967ba1215eaecede923f\/uploads\/sites\/30\/2023\/06\/14.294_LC_Digital-assets-summary_v5_WEB.pdf\"><span style=\"font-weight: 400;\">draft<\/span><\/a><span style=\"font-weight: 400;\"> legislation that proposed <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/new-cryptocurrency-releases-listings-presales-today-beoble-avian-labs\"><span style=\"font-weight: 400;\">crypto<\/span><\/a><span style=\"font-weight: 400;\"> be labeled as property. In their findings, the Commission concluded that select digital assets &ldquo;are neither things in possession nor things in action.&rdquo;&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following their findings, it was suggested that the legal system treat crypto and other digital assets as &ldquo;capable of being things which personal property rights can relate.&rdquo; <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The report was one of the first moves taken by the Labour government to look into crypto and digital asset policy since the party took over from the Conservative party in July 4.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It might take some time before the proposed property bill comes into effect. Experts believe that Parliamentary recesses and the party conference season could delay further developments for several months.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/upcoming-crypto-presales-unlock-early-investment-calsona-plu5e\/\"><span style=\"font-weight: 400;\">Upcoming Crypto Presales: Unlock Early Investment Opportunities!<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/new-shiba-inu-boss-shiba-shootout-races-past-1-1m-in-presale-next-dogwifhat\"><span style=\"font-weight: 400;\">New Shiba Inu Boss Shiba Shootout Races Past $1.1M In Presale &ndash; Next DogWifHat?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/dogs-price-climbs-4-in-a-week-but-expert-says-this-shiba-inu-derivative-could-make-millionaires\"><span style=\"font-weight: 400;\">DOGS Price Climbs 4% In A Week, But Expert Says This Shiba Inu Derivative &rdquo;Could Make Millionaires&rdquo;<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Most Searched Crypto Launch - Pepe Unchained<\/p>\n                                    <\/div>\n                                    <div class=\"col-12 col-md-4\">\n                                        <div class=\"inContentProviderSingle--rating\">\n                                            <div class=\"rating--holder\">\n                                                <p class=\"rating--text\">Rating<\/p>\n                                                <div class=\"rating--star-container\">\n                                                    <div class=\"rating--star\" style=\"width: 100%;\"><\/div>\n                                                <\/div>\n                                            <\/div>\n                                        <\/div>\n                                    <\/div><!--\/.col-md-4-->\n                                <\/div><!--\/.row-->\n                                <div class=\"row\">\n                                    <!-- *******  Desktop Provider Logo ********** -->\n                                    <div class=\"col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none\">\n                                        <img decoding=\"async\" class=\"inContentProviderSingle--img mb-3\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/pepu.svg\" alt=\"Pepe Unchained\" width=\"125\" height=\"60\">\n                                    <\/div>\n\n                                    <div class=\"col-12 col-md-8\">\n                                                                                    <ul class=\"inContentProviderSingle--list\">\n                                                                                                    <li>Layer 2 Meme Coin Ecosystem<\/li>\n                                                                                                    <li>Featured in Cointelegraph<\/li>\n                                                                                                    <li>SolidProof &amp; 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The government announced <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1954,"featured_media":575908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Landmark UK Crypto Bill Recognizes Bitcoin, NFTs, And Tokenized Assets As Personal Property - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"A UK crypto bill has passed, recognizing Bitcoin, Non-Fungible Tokens (NFTs), and tokenized assets as personal property under domestic law.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landmark UK Crypto Bill Recognizes Bitcoin, NFTs, And Tokenized Assets As Personal Property\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-12T07:04:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-12T09:34:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/09\/istockphoto-504011354-612x612-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"612\" \/>\n\t<meta property=\"og:image:height\" content=\"415\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steven Walgenbach\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@__CryptoSteve\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steven Walgenbach\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902\"},\"author\":{\"name\":\"Steven Walgenbach\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/87782b69af094c4f9a428f68ec30855a\"},\"headline\":\"Landmark UK Crypto Bill Recognizes Bitcoin, NFTs, And Tokenized Assets As Personal Property\",\"datePublished\":\"2024-09-12T07:04:07+00:00\",\"dateModified\":\"2024-09-12T09:34:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902\"},\"wordCount\":285,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902#primaryimage\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902\",\"name\":\"Landmark UK Crypto Bill Recognizes Bitcoin, NFTs, And Tokenized Assets As Personal Property - InsideBitcoins.com\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"datePublished\":\"2024-09-12T07:04:07+00:00\",\"dateModified\":\"2024-09-12T09:34:51+00:00\",\"description\":\"A UK crypto bill has passed, recognizing Bitcoin, Non-Fungible Tokens (NFTs), and tokenized assets as personal property under domestic law.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902\"]}],\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/575902#primaryimage\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebitcoins.com\/#website\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"name\":\"InsideBitcoins.com\",\"description\":\"Search &amp; 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