Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
UK Law Commission proposes new property class for crypto assets

UK Law Commission proposes new property class for crypto assets

CointimeCointime2024/07/31 09:45
By:Cointime

The Law Commission for England and Wales has urged its government to classify all cryptocurrencies as a new form of personal property in its final report on digital assets. The Law Commission is an independent body responsible for reviewing and recommending legal reforms in England and Wales. On July 30, it released a supplementary report highlighting the shortcomings of the current classification of personal property and its legal implications for cryptocurrencies. Under UK law, personal property is divided into two categories: chattels (tangible property) and choses in action (intangible property, such as debts or rights). The Commission believes that digital assets, including cryptocurrencies and non-fungible tokens, can possess both of these characteristics and hinder dispute resolution in court cases.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Arctic Pablo Coin Tops the Chart of Top Cryptos to Buy Now—$0.00023 Entry Could Unlock $34,782 at Launch While Brett and Would Making Moves

Arctic Pablo Coin surges at $0.00023 with massive ROI. Brett and Would also updated. Discover top cryptos to buy now before prices explode.66% APY and More: Why Arctic Pablo Coin Tops the List of Top Cryptos to Buy NowBrett Eyes Layer 2 Migration and Utility Boost in Upcoming RoadmapWould Launches Social Rewards Engine as On-Chain Interaction Surges

Coinomedia2025/06/01 09:16
Arctic Pablo Coin Tops the Chart of Top Cryptos to Buy Now—$0.00023 Entry Could Unlock $34,782 at Launch While Brett and Would Making Moves

Top Crypto Gainers for 2025: BlockDAG Moves Ahead of DOGE, UNI, & ARB

A closer look at the top crypto gainers for 2025. BlockDAG’s $279M presale at $0.0018 stands out over DOGE, UNI, & ARB.1. BlockDAG: Over $279M Raised & Still Priced at $0.00182. Uniswap (UNI): Upgrade Speculation Meets Price Dip3. Arbitrum (ARB): Price Pressure, But Room to Rebound4. Dogecoin (DOGE): Holding Ground, Waiting for the SparkWhy BlockDAG Is Still the One to Watch

Coinomedia2025/06/01 09:16
Top Crypto Gainers for 2025: BlockDAG Moves Ahead of DOGE, UNI, & ARB