Crypto Gets Legal Recognition: UK Enacts Property Act 2025 For Digital Assets
The United Kingdom (UK) has reached a significant milestone in its approach to digital assets with the recent passage of the Property Act 2025, which now officially categorizes cryptocurrencies as legal property. UK’s New Law Sets Criteria For Digital Assets The creation of this dedicated legal category for digital assets followed recommendations from the Law […]
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The U.K. Law Commission called for cryptocurrencies and digital assets to be classed as “data objects” in new reforms aimed at fostering growth and legal protection. The Law Commission of England and Wales is proposing a number of law reforms to provide wider recognition and legal protections for cryptocurrency and digital asset users.The institution is reviewing existing legislation on digital assets at the request of the British government in an effort to accommodate the space as it continues to grow in reach and use. The Law Commission announced the call for public consultation from....
Cryptocurrency has long been a contentious subject in China, with the government imposing strict regulations and outright bans on various aspects of the industry. However, a recent report from China’s People’s Court challenges this historical stance, offering newfound recognition to virtual assets as legal property. In a significant departure from conventional policy, the report titled […]
The proposal from England’s Law Commission outlines a new form of property for digital assets, custodial operations, and a framework for legal proceedings.
Madras High Court has ruled that cryptocurrencies can be treated as property, a decision that could reshape how exchanges handle user assets after hacks. The court found that certain crypto holdings are identifiable and controllable, and therefore eligible for legal protection similar to other movable property. Related Reading: $133 Million In Bitcoin On The Move: […]
China may soon have a set of laws offering legal status to Bitcoin and other digital currencies in the country. The laws offering rights to virtual property and data is part of the recently released draft of the People’s Republic of China General Principles of Civil Law. According to reports, the new draft law was created as part of the recent Conference of the NPC Standing Committee. The draft is created keeping the changing global economic landscape in mind. It is said to consider virtual networks, data, and information as properties almost on par with physical and financial assets,....