**UK Government Proposes New Law to Classify Cryptocurrencies as Personal Property**

The UK government has introduced a new Property Bill to determine if Bitcoin and other cryptocurrencies can be considered "personal property" under local laws. Announced on September 11, the legislation aims to clarify the legal status of digital assets like NFTs and carbon credits.

Key points:

- The bill will create a new property category for digital assets, identifying them as "things."

- It aims to provide legal protection against fraud and scams.

- The law will help judges handle complex cases involving digital assets, such as in divorce settlements.

Labour MP Heidi Alexander emphasized the importance of keeping the law in step with evolving technologies to maintain the UK's leadership in the crypto sector. This move follows a 2023 report by the Ministry of Justice, which highlighted the need for clearer legal definitions for digital assets.

Stay tuned for further updates on this developing story.