Royal Assent Sees UK Lead on Crypto Property Law

The UK has taken a pioneering step by writing digital asset property rights into statute law. The newly enacted law treats cryptocurrencies and stablecoins as a form of property, a change championed as a major protective measure for investors and users.

Lord Speaker John McFall informed the House of Lords that the Property (Digital Assets etc) Bill has obtained royal assent. This signifies that King Charles has formally approved it, concluding the legislative process.

Freddie New, a leading policy figure at Bitcoin Policy UK, expressed strong approval on social media. He labeled the event “a massive step forward for Bitcoin in the United Kingdom,” highlighting its importance for the domestic crypto community.

The move transitions the legal standing of crypto from precedent-based common law to a codified statutory framework. It directly adopts the clarity-seeking recommendation made by the Law Commission of England and Wales in 2024 to establish digital assets as a novel class of personal property.