According to BlockBeats, on September 12, the British government proposed a landmark initiative in Parliament on Wednesday. The bill aims to clarify the legal status of digital assets (including Bitcoin and other cryptocurrencies and NFTs) and treat them as personal property under English and Welsh law.
If passed, the bill would create a third category of personal property, beyond the current classifications of “possessions” and “animals.” This new category would cover certain digital assets and provide them with clear legal recognition and protection.
Attorney General Heidi Alexander said the law must keep pace with evolving technology and the legislation meant the industry could maintain its global leadership in crypto assets and bring clarity to complex property cases.
