The United Kingdom is one step closer to an economy where cryptocurrency holders have the same legal footing as owners of other traditional assets.
The Parliamentary Bill on Property (Digital Assets etc), which was introduced to the House of Lords in September 2024, has received royal assent this week. This means that the bill has been approved by King Charles and is officially a law.
Digital assets are no longer in a gray area and are instead protected by property law. Many UK courts have viewed crypto as a digital property, but only on a case by case judgment.
In 2024, the Law Commission of England and Wales urged policymakers to classify crypto as its distinct form of private property to prevent disputes on asset ownership.
In UK law, private property is categorized into two types: physical objects and contractual rights. The problem is that crypto does not fit into either category.
Hence, the new law became a solution. It confirms that “a thing that is digital or electronic in nature”, such as crypto, may still be treated as private property.
This new law is well-received by crypto investor communities. Through an X post on 02/12/2025, Policy Chief of Bitcoin Policy UK Freddie New commented that this is “a hugely significant step for English law and for UK citizens who use Bitcoin.”
In another post back in 12/09/2024, when the bill was first introduced, New emphasized that the bill is “a significant move in the right direction from the UK.” He said, “Bitcoin is real; it's not an airy frippery for you to gamble with. It's yours, and the law should soon recognize that fact.”
With the new legislation, UK courts can solve cases of stolen funds, inheritance, or company failures involving digital assets more easily.
This gives token holders a clearer legal footing. They can receive better legal help to prove ownership or retrieve stolen assets.
The UK has established crypto’s new status as property. What about Indonesia? Learn about Indonesia’s crypto regulations through the article: Indonesia’s Crypto Regulations in 2025: A Complete Guide for Token Researchers.
