The U.K. Legally Recognizes Cryptocy as Property

The law establishes a third category that includes digital assets such as cryptocurrencies and non-fungible tokens (NFTs). Crypto industry associations welcomed the law, hailing it as an important step in the legal recognition of digital assets and therefore instilling greater confidence for users. “This change provides greater clarity and protection for consumers and investors by ensuring that digital assets can be clearly owned, recovered in cases of theft or fraud, and included within insolvency and estate processes,” trade association CryptoUK wrote in a post on X.