The UK House of Lords supports the Digital Asset Property Act

According to CoinDesk, members of the UK House of Lords expressed support for the country's Digital Asset Property Act during Wednesday's second reading session. 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 its own cryptocurrency usage. The bill was drafted by an independent statutory body, the Legal Committee, and was launched in the UK in September. The bill adds a new category of "items" to the category of property to help resolve legal disputes related to cryptocurrency. This bill will not only assist judges in criminal proceedings where cryptocurrencies are stolen due to fraud or hacking attacks, but also help to divide marital property.