King Charles Signs Law Granting Crypto Explicit Property Status in UK
A groundbreaking bill that classifies cryptocurrencies and stablecoins as legal property has now been passed into law in the UK. Proponents argue this legislative action will enhance security and certainty for digital asset holders.
Royal assent was granted this week, as confirmed by Lord Speaker John McFall in Parliament. With King Charles’s formal approval, the Property (Digital Assets etc) Bill’s provisions are now officially enacted.
The policy head of Bitcoin Policy UK, Freddie New, hailed the milestone on X. He called it “a massive step forward for Bitcoin in the United Kingdom,” emphasizing the benefits for all domestic holders and users of the digital currency.
This statutory law puts into writing what was previously only established through judicial precedent in common law. It directly implements a proposal from the Law Commission of England and Wales, which last year advised legally defining crypto as a new type of personal property for absolute clarity.
