UK Cements Crypto as Legal Property in Landmark Legislative Move

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The United Kingdom has enacted a new law formally recognizing digital assets, including cryptocurrencies and stablecoins, as property. Advocates state this will provide significantly stronger protections for users within the crypto sector.

The Lord Speaker, John McFall, announced to the House of Lords that the Property (Digital Assets etc) Bill has received royal assent. This final step, with approval from King Charles, solidifies the bill’s status as binding law.

Freddie New of Bitcoin Policy UK celebrated the development on social media, declaring the law “a massive step forward for Bitcoin in the United Kingdom and for everyone who holds and uses it here.” The move is seen as a major validation for the asset class.

While UK common law had previously established through case law that digital assets could be considered property, this bill explicitly codifies that status. It follows a 2024 recommendation from the Law Commission of England and Wales to create clarity by categorizing crypto as a distinct form of personal property.