UK Wants New Form of Property for Bitcoin – Bitcoin Magazine

UK Wants New Form of Property for Bitcoin – Bitcoin Magazine
UK Wants New Form of Property for Bitcoin – Bitcoin Magazine

The Law Commission of England and Wales, an independent legal reform consultancy originally commissioned by Parliament, has proposed a new category of property to include digital assets such as bitcoin in a 549-page proposal.

How could this change the way the UK interacts with and recognizes bitcoin and why was it necessary?

In the UK there are currently two recognized forms of property: things in possessionand things in action.

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