The UK Might Consider Cryptos as a New Sort of Property

The UK Legal Commission has advocated in a statement in which it has supported the plans of the government to legalize the crypto sphere for the recognition of non-fungible tokens (NFTs) and digital currencies as a new type of property.

Such an initiative was previously made not only in the Cabinet, but also in the Central Bank of Great Britain.

The recognition of cryptos as a new type of property would greatly facilitate the protection of digital assets holders.

At the same time, the commission has opposed the use of Bitcoin and other virtual coins as a means of payment for goods and services. According to the agency, cryptocurrencies can only be used for capital storage and trading.