UK Law Commission Suggests Creating a New Category of Personal Property for Crypto Assets
The UK Law Commission has recommended the creation of a new category of personal property to accommodate crypto assets. In a report commissioned by the government, the Commission proposed adding a third category called "digital objects" to include cryptocurrencies and NFTs. The Commission also suggested the establishment of a panel of experts to advise courts on legal issues related to digital assets, supporting the UK government's goal of becoming a global hub for crypto assets.
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UK Law Commission Suggests Creating a New Category of Personal Property for Crypto Assets
The UK Law Commission has recommended the creation of a new category of personal property to accommodate crypto assets. In a report commissioned by the government, the Commission proposed adding a third category called "digital objects" to include cryptocurrencies and NFTs. The Commission also suggested the establishment of a panel of experts to advise courts on legal issues related to digital assets, supporting the UK government's goal of becoming a global hub for crypto assets.