A very important move by the British Government, as it introduces a Bill to clarify Cryptos legal status.

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A very important move by the British Government, as it introduces a Bill to clarify Cryptos legal status. Bitcoin and other digital assets can be considered personal property under new draft law introduced in Parliament today (11 September 2024).

Interestingly the statement says ‘The Property (Digital Assets etc) Bill, introduced in Parliament today, will mean that for the first time in British history, digital holdings including cryptocurrency, non-fungible tokens such as digital art, and carbon credits can be considered as personal property under the law.’

One wonders if the Magna Carta would have been considered a digital holding in 1215 😉

But seriously, now a Bill has been introduced that will clarify the ownership of digitial holdings as personal property. How does this align with the assets being taxed?

One would have assumed that the U.S was holding pole position on the emerging global crypto race.

@Thaddeus Dziekanowski

#crypto #digitalassets

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