Intellectual Property: Digital Technology
The question
To ask the Secretary of State for Justice, whether her Department plans to take steps to protect digital ownership.
Answered by Sarah Sackman
The Government is taking steps to protect digital ownership by introducing the Property (Digital Assets etc) Bill. This Bill confirms that digital assets such as crypto-tokens can be recognised as personal property under the law of England and Wales, and Northern Ireland. This clearer legal recognition will provide greater certainty and legal protection for individuals and businesses who hold or transact with these assets, including in cases of theft, insolvency, inheritance, and when used as security for loans.
Justice is a devolved matter in Scotland, which has a distinct legal tradition in property law. The Scottish Government has been consulting separately on the recognition of digital assets as property under Scots law.
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