According to the Property (Digital Assets etc.) Bill, digital assets like as carbon credits, cryptocurrencies, and non-fungible tokens like digital art will all be regarded as personal property for legal purposes.

According to the government, this would assist judges handle complicated instances where digital holdings are contested or form part of settlements, such as in divorce disputes, while also providing owners and businesses with legal protection against fraud and scams.

Justice Minister Heidi Alexander says: "It is essential that the law keeps pace with evolving technologies and this legislation will mean that the sector can maintain its position as a global leader in cryptoassets and bring clarity to complex property cases."