UK government has proposed recognizing cryptocurrencies as personal property
The bill has been submitted for consideration in Parliament
12.09.2024 - 11:55
84
2 min
0
What’s new? The UK government has tabled a bill in Parliament that would recognize cryptocurrencies, non-fungible tokens (NFTs), and tokenized real-world assets (RWAs) as personal property. It also guides lawyers on how to handle ownership disputes such as divorce. The document will protect cryptocurrency owners, both individuals and businesses, who have been affected by fraud.
Bill on the government’s website
What else is known? The bill proposes to introduce a new category of property in addition to the existing “things in possession” such as money and cars, and “things in action” such as debts and shares. The new category would allow certain digital assets to achieve personal property status.
Earlier this year, the Law Commission, which considers and recommends changes to the laws of England and Wales, consulted on a bill to recognize cryptocurrency as property and published a final report:
“We conclude that some digital assets are neither things in possession nor things in action, but that nonetheless the law of England and Wales treats them as capable of being things to which personal property rights can relate.”
UK authorities have arrested former Pump fun employee for a $1,9 million platform hack
The developer was later released on bail
In April, UK authorities launched a sandbox to test trading in tokenized securities. It will run for five years and could lead to the creation of a new securities settlement regulatory regime.
Also in April, the country enacted an amendment that allowed law enforcement officials to seize and freeze criminal cryptocurrencies without a conviction.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$69 916
BTC
+2.85%
-
Ethereum
$2 444.91
ETH
+0.45%
-
BNB Smart Chain
$567.33
BSC
+2.38%
-
Ripple
$0.513265
XRP
+0.58%
-
Dogecoin
$0.173563
DOGE
+9.25%
-
Cardano
$0.334989
ADA
+1.87%
-
Bitcoin Cash
$340.69
BCH
+2.11%
-
Polkadot
$3.89
DOT
+2.91%
-
Litecoin
$66.28
LTC
+0.12%
-
Stellar XLM
$0.093297
XLM
+2.15%