UK Court Recognizes USDT as a “Distinct Form of Property”

In a court document, the UK High Court ruled that the stablecoin of the company Tether Limited is property.

Since 2023, the United Kingdom recognizes the Bitcoin ecosystem as a financial activity.

The court considers that USDT can constitute property, as is the case with other assets.The UK High Court officially recognized USDT, the stablecoin of Tether Limited, as a form of property.

In a court document in the case between citizen Fabrizio D’Aloia and several cryptocurrency companies, Judge Richard Farnhill stated that “USDT attracts property rights under English law.”He also stated that USDT “is a distinct form of property with no underlying legal right, and can constitute fiduciary property like other assets.”Judge Farnhill addressed the case of D’Aloia, who claims to have been the victim of a £2.5 million fraud. For this reason, it sued several cryptocurrency companies, including the exchanges Binance, Polo, Gate, and BitKub.Like any other asset

This legal recognition implies that USDT can be treated like any other asset in terms of inheritance, litigation, and transactions. The ruling could facilitate the integration of USDT into traditional British financial systems, opening the door to its use in contracts, trusts, and as collateral for loans in that country.

On a global level, this precedent can influence how other countries regulate cryptocurrencies, while increasing confidence in stablecoins, encouraging their adoption and possibly accelerating the regulation of other crypto assets. This, although there are investors who think these assets are not here to stay

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