UK Parliament Grants Crypto Formal Property Status

Cryptoassets have been formally recognized as property in the UK under a new law. The Property (Digital Assets etc.) Act 2025 achieved Royal Assent, providing a long-awaited legal definition for the digital asset sector.

The bill’s passage through both legislative chambers was straightforward. It establishes that holdings such as Bitcoin constitute a unique type of property, separate from physical objects or rights defined by contract.

“A third category of property now exists,” said Susie Ward, CEO of Bitcoin Policy UK. Her colleague, Freddie New, characterized the law as possibly the most consequential change in English property law in centuries.

This legislative milestone fulfills a recommendation made by the Law Commission in 2023. The process was initiated in the House of Lords in September 2024.

The industry group CryptoUK observed that courts had already been applying this principle. Nonetheless, formalizing it into statute is expected to provide greater certainty for legal proceedings involving digital assets.