UK Parliament Introduces Bill to Recognize Bitcoin and Crypto as Personal Property

UK Parliament Introduces Bill to Recognize Bitcoin and Crypto as Personal Property
фото показано с : bitcoinmagazine.com

2024-9-12 20:06

The UK Parliament has introduced the Property (Digital Assets etc) Bill today to officially and legally recognize Bitcoin, cryptocurrency, and other digital assets as personal property. With this new legislation, for the first time, British law would officially protect digital holdings such as Bitcoin and other cryptocurrencies, non-fungible tokens (NFTs), and carbon credits.

"It is essential that the law keeps pace with evolving technologies and this legislation will mean that the sector can maintain its position as a global leader in cryptoassets and bring clarity to complex property cases," said Justice Minister Heidi Alexander. "Our world-leading legal services form a vital part of our economy, helping to drive forward growth and keep Britain at the heart of the international legal industry."

This bill aims to address a long-standing legal gap, where digital assets were previously excluded from English and Welsh property law. As a result, owners of digital assets had little recourse if their holdings were interfered with, leaving them in a legal grey area.

Under the new bill, digital assets will be classified as a third category of property, allowing owners to benefit from stronger legal protections against fraud and theft. The legislation will also assist courts in resolving complex disputes, such as those arising in divorce settlements or business agreements involving digital assets.

"The Bill will also ensure Britain maintains its pole position in the emerging global crypto race by being one of the first countries to recognise these assets in law," stated the announcement.

The UK government further explained that with this new legislation, their legal sector will be better equipped to respond to these new technologies and attract more business and investment to the legal services industry.

"The UK has passed a new bill that will allow crypto and other digital assets to be recognised as personal property," stated the UK Ministry of Justice X account. "That means owners of digital assets will gain legal protection against fraud and scams."

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 68444.12 (+0.09%)
Объем 24H $33.762b
Изменеия 24h: -1.22 %, 7d: 2.36 %
Cегодня L: $68142.46 - H: $69737.04
Капитализация $1369.746b Rank 1
Цена в час новости $ 57915.22 (18.18%)

bitcoin clarity legal provide aims protection owners

Источник: bitcoinmagazine.com

bitcoin clarity → Результатов: 126


Chinese Crypto Miners Panic Sold, But Most Are Still Awaiting for Clarity from the Govt.

This changes nothing, with fundamentals remaining stronger than ever. It is rather a massive opportunity to make Bitcoin green & even more decentralized by having a new wave of mining operators outside of China using renewable energy The post Chinese Crypto Miners Panic Sold, But Most Are Still Awaiting for Clarity from the Govt. first appeared on BitcoinExchangeGuide.

2021-5-24 17:50


Фото:

Charles Schwab Survey: Young UK Investors Prefer Cryptocurrencies to Stocks

Major U.S. financial group Charles Schwab has conducted a survey and found that young British investors are twice as likely to buy cryptocurrencies, such as bitcoin, as they are to buy stocks. The company says it is watching the crypto space closely but needs “additional clarity from regulators” before considering providing any crypto services directly […]

2021-4-27 21:30


Bitcoin Price Plunges as Bulls Fail to Break One Crucial Level; What’s Next?

It has been a rocky past few days for Bitcoin, with the crypto seeing mixed price action that has muddied the clarity that investors previously had regarding its trend The selling pressure it has been facing over the past few days and weeks has been quite intense, making it increasingly unclear as to where it may trend in the days and weeks ahead One trader explained in a recent tweet that he is now watching […]

2021-1-31 21:00


“Nobody’s Going to Ban Bitcoin,” says Comptroller of the Currency; ‘Clarity’ Coming in Early 2021

The acting Comptroller of the Currency (OCC), Brian Brooks, said on Thursday that new regulations on bitcoin and cryptocurrencies are coming soon. Brooks appeared on CNBC’s “Squawk Box” to talk about “clarity” on the leading cryptocurrency to be expected in the next six-to-eight weeks but made it very clear that “nobody’s going to ban bitcoin.

2020-12-5 17:06


Фото:

Here’s Why One Analyst Expects Bitcoin to Surge Towards $12,000

Bitcoin and the entire crypto market aren’t providing investors with much clarity into their near-term outlooks BTC is in the process of battling the headwinds created by the ongoing turbulence within the stock market This turbulence has come about as a result of a lack of progress surrounding the second stimulus package If the White House and Congress fail to come to terms with an agreement, then the stock market may continue seeing immense selling […]

2020-10-16 02:00


Фото:

Ethereum has Yet to Reach a Critical Support Zone; Will It Tap $300?

Ethereum’s price action has been nearly identical to that of Bitcoin throughout the past couple of days This caused the crypto to dip as low as $318 yesterday, at which point buyers stepped up and catalyzed from strong momentum This pushed the cryptocurrency up to highs of $340, which is where it found some resistance ETH is now caught within a bout of sideways trading, and its price is offering few signs of clarity to […]

2020-9-25 00:00


Bitcoin Fundamental Expert: “Clarity” Comes After “Rocky” Election Ends

An expert in Bitcoin fundamental analysis claims that although the cryptocurrency is bullish currently, things could get “rocky” until after the US Presidential Election concludes. But as soon as the winner is chosen,  the “clarity” combined with the asset’s halving has in the past provides “solid” foundation for each new bull run to begin. Bitcoin […]

2020-9-24 04:00


Фото:

Bitcoin Buyers Defend Crucial Support Level, Boosting the Bull Case

Bitcoin and the aggregated cryptocurrency market have been caught in the throes of an unrelenting consolidation phase over the past few weeks This has muddied the clarity that many analysts previously had regarding the strength of the market’s multi-week uptrend It does appear that buyers got a much-needed boost overnight, however, as bulls were able to post a potent reaction to its key support Analysts are now eyeing a few key factors for insight into […]

2020-6-20 21:00


Фото:

Holding Above This Key Level Could Send Bitcoin to $14,000; Will This Happen?

Bitcoin’s consolidation phase has muddied the clarity that many investors had regarding the strength of its uptrend Because the resistance that has been laced just above BTC’s current price has proven to be insurmountable, it remains unclear as to what could push the crypto past this level Analysts still believe that the crypto’s outlook could be extremely bright In order for it to validate its potential strength, however, it is imperative that buyers push it […]

2020-6-12 02:00


Фото:

Trader explains where Bitcoin price will go after $9k drop, believes Altcoins are set to moon

Following the third Bitcoin halving, the cryptocurrency community is left with little clarity on what the near future holds for Bitcoin and cryptocurrency in general. Well, for those immersed in altcoins, the good news is alts are likely to pump in the coming weeks as Bitcoin’s dominance continues to reduce. This is according to an […]

2020-5-26 22:45


Фото:

Cryptocurrency and Blockchain Regulations Clarified in Rocky Mountain U.S. States

In a bid to provide regulatory clarity to issuers and buyers of distributed ledger technology (DLT) based virtual currencies in the area, Wyoming, Colorado, and Montana states have taken the bold step to draft bills pertaining to the use of bitcoin and altcoins,  reports Natlawreview  on August 1, 2019 The Pro-Crypto Trio Per sources closeRead MoreRead More.

2019-8-3 01:00


UK Regulator Officially Issued Guidance on Bitcoin and Crypto Assets, Specifically for Security Tokens

The United Kingdom was working to find some clarity on their cryptocurrency policies through the last year, which they promised to deliver. The financial watchdog in the UK, the Financial Conduct Authority (FCA) has now published a report to update the public on the state of the cryptocurrency industry within the UK, according to The […]

2019-7-31 22:35


Фото:

Ripple Execs Urge U.S. Authorities to Focus on Regulatory Clarity for Cryptocurrency

Ripple CEO, Brad Garlinghouse, and Executive Chairman and Co-founder of Ripple, Chris Larsen, expressed concerns regarding regulatory ambiguity in the United States. In an open letter to the U. S. Congress on July 28, 2019, both top executives stated that lack of clear cryptocurrency regulations is bound to stifle crypto business in the U.

2019-7-29 17:59


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Binance’s CZ Drops ‘Freedom of Money’ Book Next Week

Key Takeaways: Binance tokens pioneer Changpeng Zhao confirms that his book Freedom of Money goes live next week E-books are already pre-priced in English and Traditional Chinese The introduction of The post Binance’s CZ Drops ‘Freedom of Money’ Book Next Week appeared first on CryptoNinjas.

Chainlink Moves $165M In LINK As Quarterly Unlock Sends Majority To Binance

Chainlink has successfully executed its latest quarterly token unlock, releasing a significant tranche of LINK into circulation as part of its ongoing distribution schedule. According to on-chain data shared by EmberCN, a total of 19 million LINK tokens, valued at approximately $165 million, were moved out of non-circulating supply.