🚀 Crypto as Property? England and Wales Law Commission Seeks Public Opinion!

The Law Commission, responsible for reviewing and recommending legal changes in England and Wales, has published a consultation on draft legislation to classify crypto as property. The move comes after last year's report highlighting that crypto tokens and non-fungible tokens can attract property rights.

Key points:

- Responses to the consultation are required by March 22

- Personal property rights are crucial in cases of insolvency or unlawful asset interference

- Digital assets differ significantly from traditional categories of personal property

The commission is also seeking evidence for its project on digital assets and electronic trade documents in private international law, with a deadline of May 16.

What are your thoughts on crypto being classified as property? Share your opinions in the comments below! 👇