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The United Kingdom has introduced the Property (Digital Assets etc) Act, which formally classifies cryptocurrencies, stablecoins and tokenised instruments as a new category of personal property.
As reported by media outlets, lawmakers say the reform aims to protect consumers, reduce legal uncertainty, and support the UK’s ambition to become a global hub for digital assets. By placing digital tokens in a clearly defined property class, courts and lawyers no longer need to rely on patchwork case law when handling disputes over wallets, private keys or token transfers.
The statute builds on guidance from the Law Commission of England and Wales, which found that traditional property categories, physical goods or intangible rights, did not adequately capture the nature of digital assets. Now, judges can recognise crypto tokens as distinct property, enabling stronger remedies in cases of hacks, fraud or misappropriation.
The new framework provides stronger legal grounds for proving ownership of cryptocurrencies and tokenised assets, improved pathways for recovering stolen or lost digital tokens through proprietary remedies, simpler contract structures for custody, collateral and tokenised real-world assets, as well as greater legal certainty for banks, asset managers and custodians planning digital asset services.
Courts can now treat wallets and on-chain records as legally recognised property interests, making it easier to include crypto holdings in insolvency processes, estate planning, and commercial disputes.
Regulators also view the Act as part of the UK’s broader digital asset strategy. Ongoing consultations by HM Treasury and the FCA aim to bring crypto markets, stablecoins and related services into the existing financial rulebook, combining innovation with strict oversight.
The new policy coincides with Reform UK securing a record-breaking £9 million donation from cryptocurrency investor and aviation entrepreneur Christopher Harborne, setting a new benchmark for political funding in Britain. As reported by the BBC, Fresh Electoral Commission data confirms it is the largest single donation ever made by a living individual to a UK political party, giving Reform a significant financial edge ahead of local elections in May.
Christopher Harborne, who resides in Thailand despite being a British citizen, has long been a prominent political donor. He previously contributed millions to the Conservative Party under Boris Johnson and to the Brexit Party, Reform UK’s predecessor, during 2019–2020.
His latest donation surpasses the previous record of £8 million, made by supermarket magnate Lord David Sainsbury to the Liberal Democrats in 2019. Another family member, Lord John Sainsbury, posthumously left £10 million to the Conservatives in 2022.
Harborne has extensive interests in private aviation, with companies such as AML Global and Sherriff Group operating in aircraft services and logistics.
Between July and September, Reform UK reported more than £10.2 million in total donations, according to Electoral Commission filings, more than double the Conservative Party’s £4.6 million. Labour followed at £2.1 million, with the Liberal Democrats reporting £1 million.
Combined with its strong polling performance since spring, Reform UK enters 2025 as one of the country’s best-funded political forces, bolstered by both financial momentum and shifting attitudes towards the digital economy, an area closely tied to Harborne’s investment interests.
In May, the UK government unveiled draft legislation aimed at tightening the reins on cryptocurrency operations within its borders. The move signalled the country’s closer cooperation with the United States instead of following the European Union’s approach to digital assets.
UK Finance Minister Rachel Reeves announced legislation that will extend current financial regulations to crypto companies within the country by this year’s end. The proposed rules will bring crypto exchanges, dealers, and agents under the purview of financial regulators.
To put this in context, according to recent government data, 12 percent of British adults now own or have previously owned cryptocurrencies like Bitcoin or Ethereum, triple the figure from 2021.
