Today, a legal panel headed by the Chancellor of the High Court, Sir Geoffrey Vos, issued a statement classifying crypto-assets as property in the U.K., clearing the path for businesses to use digital assets on a blockchain, reported
The Times.
That clarity was the purpose behind a
public consultation announced back in May when Vos stated: “The answers to those legal questions will provide a dependable foundation for the mainstream utilisation of cryptoassets and smart legal contracts.“
The ‘legal statement’ said crypto-assets “have all of the indicia of property”, giving cryptocurrencies and blockchain a legal standing similar to physical assets.
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