đŹđ§ Englandâs Law Commission proposes a new property category for crypto assets.
âïž The Law Commission for England and Wales has called on the UK government to create a new category of personal property for crypto assets. This proposal aims to improve the legal protection of digital assets, such as cryptocurrencies and non-fungible tokens, and address their classification issues.
đ The Commission believes that the current system, which divides property into tangible and intangible categories, is not suitable for crypto assets that possess attributes of both. The proposed legislation aims to provide a clear legal framework for crypto assets, which should facilitate the development of the digital asset sector in England and Wales.
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