The bill that came to parliament has an important role in clarifying the status of cryptocurrencies. The first step for many countries is to determine what cryptocurrencies are. Work on investors’ property rights and more can also progress depending on this. England took the first step.
Cryptocurrencies and England
Government cryptocurrencies, NFT‘s and RWA brought a bill to parliament that is expected to eliminate many uncertainties in the field. According to British law, these assets will be treated as personal “property”. For example, when the bill becomes law, couples will go to lawyers when they have a disagreement and start a process under the scope of “property dispute”. Since legal processes following fraud cases will also be treated as personal property, uncertainties will be eliminated.
In the new environment where cryptocurrencies are treated similarly to assets such as debt instruments or stocks, the “new thing” will automatically have gains within the scope of personal property rights. The biggest gain here will be that cryptocurrencies will be treated legally similar to other assets without being considered as a completely different asset.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
