TechFlow reported, according to CoinDesk, that the High Court of England and Wales has ruled that the stablecoin USDT issued by Tether can be regarded as property. This ruling comes one day after the UK government began legislative efforts to define the legal status of cryptocurrencies.
Deputy Judge Richard Farnhill of the UK High Court stated in court documents filed on Thursday: "Under English law, USDT possesses proprietary rights, it can be subject to tracing, and can constitute trust property just like any other form of property."
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