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Crypto assets need new rights in law, UK legal body says

Published by
Reuters UK

By Huw Jones and Elizabeth Howcroft LONDON (Reuters) – Britain should create a new category of private property law for digital assets like cryptocurrencies which are being used to make payments or represent other assets, independent body the Law Commission proposed on Thursday. Authorities around the world are taking steps to regulate the crypto asset sector, which has grown rapidly and been labelled a “Wild West” by European Union lawmakers. Cryptocurrencies, such as bitcoin, surged in price in 2020 and 2021, but have fallen sharply this year. NFTs – blockchain-based assets which represent a…

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