Bitcoin and NFTs: New Legal Protections as 'Personal Property' in the UK
Thursday, 12 September 2024, 10:02
Bitcoin and NFTs Receive Greater Protections
The U.K. government has introduced a new bill to Parliament that proposes new legal protections for digital assets such as Bitcoin, non-fungible tokens (NFTs), and carbon credits.
This legislation is designed to establish clearer rights for owners of cryptocurrencies and other digital innovations.
Key Highlights of the Proposed Legislation
- The bill classifies Bitcoin and NFTs as 'personal property.'
- It aims to provide enhanced security and rights for digital asset holders.
- This move is expected to boost investment and trust in the cryptocurrency market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.