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Cryptopolitan 2019-11-19 19:13:00

UK classifies cryptocurrencies as property under English law

The United Kingdom now classifies cryptocurrencies as property under the latest jurisdiction. English law to treat cryptocurrencies as property as per the latest ruling According to The Times report, a legal panel chaired by Sir Geoffrey Vos decided to classify cryptocurrencies as property. The ruling declared that digital assets including Bitcoin possess all ‘indicia of property.’ The decision also noted that crypto assets with unique characteristics would also be treated as property in the UK. The UK is not the first country to categorize crypto assets as ‘property.’ Previously, Israel and China have recognized cryptocurrencies as property. The panel’s decision

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