TechFlow news — On November 7, according to CoinDesk, members of the UK House of Lords expressed support for the country's Digital Assets (Property) Bill during its second reading on Wednesday. The Grand Committee of the House generally believes the bill will bring greater clarity to how the legal system treats cryptocurrencies, potentially marking another step forward in paving the way for crypto adoption in the UK.
The bill was drafted by the Law Commission, an independent statutory body, and introduced in the UK in September. It adds a new category of "personal property" to include digital assets, helping resolve legal disputes involving cryptocurrencies. The legislation would not only assist judges in criminal cases where crypto has been stolen through fraud or hacking but also aid in the division of marital assets.
