House of Commons · General Debate
16 July 2025 · 3 other contributors
Opened by Sarah Sackman Con Not specified
Summarised by AI from the official record, so it can contain mistakes.
Sarah Sackman raised concerns about property (digital assets etc) bill [lords] 2025-07-16 in the House of Commons. A government minister responded. Other MPs also contributed.
Key points
MPs spoke in turn to share their views and ask questions. Here's what each person said.
Opened the debate
The Property (Digital Assets etc) Bill is a pivotal step in the evolution of our legal system to ensure that it remains relevant and pre-eminent in the digital age. It aims to provide certainty for individuals and businesses dealing with digital assets, driving economic growth by encouraging innovation and reinforcing the UK’s position as a global hub for digital finance and technology.
Supports the Bill's significance in providing legal certainty and clarity, emphasising its importance for positioning the country ahead of competitors in technological advancements.
Explained the historical context of property law in England and Wales, highlighting challenges posed by digital assets. Outlined the Bill's key provisions to recognise digital assets as personal property, ensuring legal certainty for owners and businesses while allowing courts to adapt common law for emerging technologies.
The Bill is a step towards legal clarity in the digital age, rooted in rigorous work by the Law Commission. It addresses ambiguity about how common law treats digital assets, ensuring that these do not lack property status due to traditional classifications. The Bill leaves room for common law to evolve and ensures protection of individual rights while supporting innovation.
Government Response
Discussed the evolution of property law in response to digital assets, emphasising the Bill's significance in providing legal clarity and certainty. Noted cross-party support in the House of Lords and its potential economic benefits for fintech innovation and global competitiveness. The Property (Digital Assets etc) Bill ensures our legal system keeps pace with technological change, reaffirming the UK's global leadership in legal and digital innovation. It is a measured approach that supports property rights and economic growth.
Shadow Response
NoneDr Kieran Mullan (Bexhill and Battle) (Con): I rise on behalf of the official Opposition to express our support for the Property (Digital Assets etc) Bill. I have enjoyed getting to understand what property law looks like in the UK.