King Charles Signs Historic Law Granting Bitcoin And Crypto Legal Property Status In The UK
The United Kingdom has officially recognized cryptocurrencies as personal property under law, marking a watershed moment for digital asset holders across the nation. The Property (Digital Assets etc) Bill received royal assent this week, with King Charles formally approving the legislation that extends the same legal protections to Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and other digital assets as traditional forms of property.
This groundbreaking legislation addresses a legal gray area that has persisted for years. While UK courts had previously treated digital assets as property through individual case judgments, Parliament has now codified this principle into statute, providing unprecedented clarity for the nation’s growing community of crypto holders.
What The New Law Changes For Crypto Owners
The legislation creates a third category of personal property under UK law, joining the existing classifications of physical possessions and legal rights. Previously, UK property law recognized only two types: tangible items like cars or real estate and intangible rights such as debts or contracts. Digital assets did not fit neatly into either category, creating uncertainty around ownership claims and legal remedies.
According to advocacy group CryptoUK, the new framework delivers significant practical benefits for crypto holders. Digital assets can now be …
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