The House of Lords in the UK supports the Digital Assets Property Bill

ChainCatcher news, according to CoinDesk, members of the House of Lords in the UK expressed support for the country's digital asset property bill during the second reading session on Wednesday. The House of Lords Grand Committee generally believes that the bill will provide more clarity on how the legal system treats cryptocurrencies and may mark another step for the UK in paving the way for domestic cryptocurrency use.

The bill was drafted by the independent statutory body, the Law Commission, and was introduced in the UK in September. The bill adds a new category of "items" under the category of property to help resolve legal disputes involving cryptocurrencies. This bill will not only assist judges in criminal cases where cryptocurrencies are stolen due to fraud or hacking but will also aid in the division of marital property.