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#1 out of 1100.00%
technology2h ago
UK among first countries to recognise cryptocurrency as personal property
- UK courts will recognise digital assets like cryptocurrency as personal property under new law.
- The reforms ease disputes and clarify rights for crypto assets in inheritance and bankruptcy.
- The plan aims to boost the UK’s reputation as a global leader in legal innovation.
- The measure expands protections for victims of digital theft and fraud.
- The law will help fintech companies by providing legal certainty for crypto assets.
- The legislation received Royal Assent this week, marking a milestone for digital assets.
- The government emphasizes that digital assets cover a broad range, including NFTs and crypto tokens.
- The Law Commission’s 2023 recommendations underpin the digital asset reforms.
- The plan links digital asset reform to growth in the UK legal services sector.
- The quote highlights government leadership on digital asset recognition and legal framework.
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