Property (Digital Assets etc) Act 2025

A vote to support means

• —Enables digital asset owners to legally pass cryptocurrencies, NFTs, and online accounts to heirs through wills, preventing permanent loss when someone dies without clear instructions
• —Provides legal certainty for individuals and businesses holding digital assets by establishing clear ownership rights and protection against unauthorized seizure
• —Creates enforceable rules for cryptocurrency exchanges and digital wallet providers, reducing fraud risk and ensuring platforms cooperate when users need account access for inheritance or legal disputes
• —Modernizes property law to reflect economic reality, as digital assets now represent significant wealth for many UK citizens but lack coherent legal status

A vote to oppose means

• —May inadvertently legitimize or encourage cryptocurrency speculation and volatile asset holding by providing legal framework equivalent to traditional property, without addressing environmental or financial stability concerns
• —Creates practical enforcement challenges and costs for digital asset platforms, potentially leading to higher fees for users or reduced services, particularly for smaller providers unable to implement required compliance systems
• —Could expose the inheritance system to new fraud risks if digital asset verification and transfer processes are exploited, or if family members dispute access to accounts containing substantial value
• —Lacks clarity on taxation implications and may create loopholes for tax avoidance through digital asset transfers, potentially shifting tax burden to traditional property owners