Crypto Assets Bill

On 12 September 2024, the Property (Digital Assets etc) Bill and accompanying documents were published after being introduced to the House of Lords. The Bill aims to establish that certain digital assets can constitute property under common law. It follows the government's acceptance of the Law Commission's recommendations, including setting up an expert group on digital asset control. The Bill applies to England and Wales, coming into force two months after being passed. Major statutory reforms are considered unlikely to resolve all issues related to digital assets, so further development will rely on common law. The second reading of the Bill is yet to be scheduled.

OVERVIEW OF THE BILL