UK passes bill classifying crypto as property

The United Kingdom has passed a new Property Bill that legally classifies digital assets as property, Cointelegraph reported. John McFall, Speaker of the UK's House of Lords, announced that the bill has received royal assent, the final step for it to become law. While the UK has previously treated digital assets as property under case law, the new legislation aims to provide greater clarity on matters such as proving ownership, recovering stolen assets, and handling bankruptcy and inheritance proceedings.