Digital assets have gained unequivocal property status under a new law passed in the United Kingdom. The legislation encompasses cryptocurrencies and stablecoins, aiming to furnish users with more robust legal safeguards.
The bill completed its legislative journey when it received royal assent, announced by Lord Speaker John McFall in the House of Lords. King Charles’s endorsement transforms the proposal from a bill into a concrete act of law.
“This becoming law is a massive step forward for Bitcoin in the United Kingdom,” stated Freddie New of Bitcoin Policy UK in a public post. The advocacy group views this as a critical advancement for the regulatory environment surrounding digital assets like Bitcoin and Ethereum.
Prior to this, the recognition of crypto as property rested on judge-made common law. The newly codified statute enshrines the 2024 recommendation of the Law Commission of England and Wales, creating a clear, parliamentary-backed category for digital assets as personal property.
