Property (Digital Assets etc) Bill [HL] 2024-26


make provision about the types of things that are not prevented from being objects of personal property rights.

Government Bill

(Ministry of Justice)
What is this Bill?

The Property (Digital Assets etc) Bill [HL] is a Government Bill tabled by a Minister of the Crown.

Is this Bill currently before Parliament?

Yes. This Bill was introduced on 11 September 2024 and is currently before Parliament.

Whose idea is this Bill?

Government Bills implement the legislative agenda of the Government. This agenda, and the Bills that will implement it, are outlined in the Queen's Speech at the Session's State Opening of Parliament.

What type of Bill is this?

Government Bills are technically Presentation Bills, but the Government can use its legislative time to ensure the schedule of debates to scrutinise the Bill.

So is this going to become a law?

Though the Bill can be amended from its original form, the Bill will almost certainly be enacted in law before the end of the Session, or will be carried over to the subsequent Session.

How can I find out exactly what this Bill does?

The most straightforward information is contained in the initial Explanatory Notes for the Bill.

Would you like to know more?

See these Glossary articles for more information: Government Bills, Process of a Bill

Official Bill Page Initial Explanatory Notes Initial Briefing papers Ministerial Extracts from Debates All Bill Debates

Next Event: There is no future stage currently scheduled for this bill

Last Event: Wednesday 16th July 2025 - 2nd reading (Commons)

22 Amendments have been proposed for this Bill
View Amendments

Bill Progession through Parliament

Lords Completed
Commons - 40%

Latest Key documents

Bill Debate
16/07/2025
Briefing paper
11/07/2025
Explanatory Note
12/05/2025
Impact Assessment
21/10/2024

Timeline of Bill Documents and Stages

16th July 2025
2nd reading (Commons)
16th July 2025
Programme motion
15th July 2025
Legislative Consent Motions-devolved legislatures
Legislative consent motion agreed by the Northern Ireland Assembly
11th July 2025
Briefing papers
Property (Digital Assets etc) Bill [HL]
12th May 2025
1st reading (Commons)
12th May 2025
Bill
Bill 237 2024-25 (as brought from the House of Lords)
12th May 2025
Bill
Bill 237 2024-25 (as brought from the House of Lords) - xml download
12th May 2025
Explanatory Notes
Bill 237 EN 2024-25
8th May 2025
3rd reading: Minutes of Proceedings (Lords)
8th May 2025
3rd reading (Lords)
30th April 2025
Report stage (Lords)
30th April 2025
Report stage: Minutes of Proceedings (Lords)
30th April 2025
Bill
HL Bill 98 (as amended on Report)
28th April 2025
Amendment Paper
HL Bill 67-I Marshalled list for Report

1

Lord Holmes of Richmond (Con)
Tabled: 28 Apr 2025
HL Bill 67-I Marshalled list for Report
This amendment was withdrawn

Clause 1, page 1, line 5, leave out “a thing in” and insert “capable of”


Explanatory Text

<p>This amendment, connected to another in the name of Lord Holmes of Richmond, seeks to provide a statutory basis for recognising digital assets as property, while removing any presumption that these assets cannot be accommodated by the existing two categories of personal property rights.</p>

2

Lord Holmes of Richmond (Con)
Tabled: 28 Apr 2025
HL Bill 67-I Marshalled list for Report
This amendment was not moved

Clause 1, page 1, line 6, leave out paragraph (b) and insert—<br> “(b) a right that may only be claimed or enforced by legal action or proceedings against another person or persons.”


Explanatory Text

<p>This amendment, connected to another in the name of Lord Holmes of Richmond, seeks to provide a statutory basis for recognising digital assets as property, while removing any presumption that these assets cannot be accommodated by the existing two categories of personal property rights.</p>

3

Lord Holmes of Richmond (Con)
Tabled: 28 Apr 2025
HL Bill 67-I Marshalled list for Report
This amendment was not moved

After Clause 1, insert the following new Clause—<br> <b>“Codes of practice on attributes of digital assets conferring property rights</b><br> (1) On the day on which this Act is passed, the Secretary of State must publish codes of practice on the attributes of digital things which confer personal property rights.<br> (2) In reaching any judgment on whether a digital asset is the object of personal property rights, the courts of England and Wales and Northern Ireland must have regard to the codes of practice published under subsection (1).”


Explanatory Text

<p>This amendment seeks to ensure the Secretary of State publishes guidance which must be considered by the courts when determining whether digital things can be the object of personal property rights.</p>

4

Lord Holmes of Richmond (Con)
Tabled: 28 Apr 2025
HL Bill 67-I Marshalled list for Report
This amendment was withdrawn

After Clause 1, insert the following new Clause—<br> <b>“Review: impact of digital assets being treated as property by virtue of this Act</b><br> (1) On the day on which this Act is passed, the Secretary of State must publish an economic impact assessment of digital assets being treated as property by virtue of this Act.<br> (2) The impact assessment under subsection (1) must include, but is not limited to—<br> (a) the estimated change in demand for, and use of, digital assets and the impact of this on data centre power usage, and<br> (b) the current level of data centre provision and its ability to meet any increase in demand for digital assets.”

5

Lord Holmes of Richmond (Con)
Tabled: 28 Apr 2025
HL Bill 67-I Marshalled list for Report
This amendment was not moved

After Clause 1, insert the following new Clause—<br> <b>“Review: impact of digital assets being treated as property by virtue of this Act on any need for regulation</b><br> Within six months of the day on which this Act is passed, the Secretary of State must conduct a review on any need for further regulation of stablecoins and tokenised deposits due to any such digital assets being treated as property by virtue of this Act.”

6

Lord Holmes of Richmond (Con)
Lord Anderson of Ipswich (XB)
Lord Ponsonby of Shulbrede (Lab)
Tabled: 28 Apr 2025
HL Bill 67-I Marshalled list for Report
This amendment was agreed

Title, line 1, leave out “capable of” and insert “not prevented from”


Explanatory Text

<p>This amendment seeks to restate the long title more clearly, so that it is consistent with the operative Clause of the Bill.</p>

4th February 2025
Bill
HL Bill 67 (as amended in Special Public Bill Committee)
4th February 2025
Amendment Paper
HL Bill 67 Running list of amendments – 4 February 2025

None

Lord Holmes of Richmond (Con)
Tabled: 4 Feb 2025
HL Bill 67 Running list of amendments – 4 February 2025
This amendment was no decision

Clause 1, page 1, line 5, leave out “a thing in” and insert “capable of"

None

Lord Holmes of Richmond (Con)
Tabled: 4 Feb 2025
HL Bill 67 Running list of amendments – 4 February 2025
This amendment was no decision

Clause 1, page 1, line 6, leave out paragraph (b) and insert- "(b) a right that may only be claimed or enforced by legal action or proceedings against another person or persons.”

None

Lord Holmes of Richmond (Con)
Tabled: 4 Feb 2025
HL Bill 67 Running list of amendments – 4 February 2025
This amendment was no decision

After Clause 1, insert the following new Clause- "Codes of practice on attributes of digital assets conferring property rights (1) On the day on which this Act is passed, the Secretary of State must publish codes of practice on the attributes of digital things which confer personal property rights. (2) In reaching any judgment on whether a digital asset is the object of personal property rights, the courts of England and Wales and Northern Ireland must have regard to the codes of practice published under subsection (1).”

None

Lord Holmes of Richmond (Con)
Tabled: 4 Feb 2025
HL Bill 67 Running list of amendments – 4 February 2025
This amendment was no decision

After Clause 1, insert the following new Clause- “Review: impact of digital assets being treated as property by virtue of this Act (1) On the day on which this Act is passed, the Secretary of State must publish an economic impact assessment of digital assets being treated as property by virtue of this Act. (2) The impact assessment under subsection (1) must include, but is not limited to – (a) the estimated change in demand for, and use of, digital assets and the impact of this on data centre power usage, and (b) the current level of data centre provision and its ability to meet any increase in demand for digital assets."

None

Lord Holmes of Richmond (Con)
Tabled: 4 Feb 2025
HL Bill 67 Running list of amendments – 4 February 2025
This amendment was no decision

After Clause 1, insert the following new Clause- "Review: impact of digital assets being treated as property by virtue of this Act on any need for regulation Within six months of the day on which this Act is passed, the Secretary of State must conduct a review on any need for further regulation of stablecoins and tokenised deposits due to any such digital assets being treated as property by virtue of this Act."

None

Lord Holmes of Richmond (Con)
Tabled: 4 Feb 2025
HL Bill 67 Running list of amendments – 4 February 2025
This amendment was no decision

Title, line 1, leave out “capable of” and insert “not prevented from"

3rd February 2025
Lords Special Public Bill Committee: Minutes of Proceedings (Lords)
3rd February 2025
Lords Special Public Bill Committee
30th January 2025
Amendment Paper
HL Bill 31-I Marshalled list for Special Public Bill Committee
29th January 2025
Amendment Paper
HL Bill 31 Running list of amendments – 29 January 2025

6

Lord Holmes of Richmond (Con)
Tabled: 29 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was withdrawn

After Clause 1, insert the following new Clause—<br> <b>“Review: impact of any digital assets being treated as property by virtue of this Act</b><br> (1) Within six months of the day on which this Act is passed, the Secretary of State must lay before both Houses of Parliament a review analysing the impacts of this Act.<br> (2) The review made under subsection (1) must include analysis of the impact of any digital assets being treated as property by virtue of this Act on—<br> (a) data centre power usage in relation to digital assets,<br> (b) the need for data centre construction and expansion,<br> (c) the viability of creating a government digital sovereign gilt,<br> (d) the desirability of establishing an objective for the National Wealth Fund relating to tokenisation opportunities,<br> (e) the need for further regulation of stablecoins and tokenised deposits,<br> (f) the need for international interoperability standards for digital bonds, and<br> (g) the need for a review of the tax regime to assess how it interacts with digital assets.”

24th January 2025
Amendment Paper
HL Bill 31 Running list of amendments – 24 January 2025

1

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was withdrawn

Clause 1, page 1, line 2, leave out from first “thing” to second “is”


Explanatory Text

<p>This probing amendment seeks to remove the parenthetical reference to “digital or electronic” things.</p>

2

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was withdrawn

Clause 1, page 1, line 2, at end insert “and has never been”


Explanatory Text

<p>This probing amendment seeks to give the Bill retrospective effect.</p>

3

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was withdrawn

Clause 1, page 1, line 5, leave out “a thing in” and insert “capable of”


Explanatory Text

<p>This probing amendment, connected to another in the name of Lord Anderson of Ipswich, seeks to provide a statutory basis for recognising digital assets as property, while removing any presumption that these assets cannot be accommodated by the existing two categories of personal property rights.</p>

4

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was not moved

Clause 1, page 1, line 6, leave out paragraph (b) and insert—<br> “(b) a right that may only be claimed or enforced by legal action or proceedings against another person or persons.”


Explanatory Text

<p>This probing amendment, connected to another in the name of Lord Anderson of Ipswich, seeks to provide a statutory basis for recognising digital assets as property, while removing any presumption that these assets cannot be accommodated by the existing two categories of personal property rights.</p>

5

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was withdrawn

After Clause 1, insert the following new Clause—<br> <b>“Attributes of digital assets conferring property rights</b><br> In determining whether a digital thing can be the object of personal property rights, regard may be had to whether the thing—<br> (a) is composed of data represented in an electronic medium, including in the form of computer code, electronic, digital or analogue signals,<br> (b) exists independently of persons and exists independently of the legal system, and<br> (c) is rivalrous.”


Explanatory Text

<p>This probing amendment seeks to specify indicia that may be considered by the courts when determining whether digital things can be the object of personal property rights.</p>

8

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was not moved

Clause 2, page 1, line 10, leave out “(Digital Assets etc)” and insert “(Objects of Personal Property Rights)”


Explanatory Text

<p>This probing amendment to the short title, connected to another in the name of Lord Anderson of Ipswich, seeks to restate the title of the Bill by removing reference to specific types of thing which the Bill applies to.</p>

9

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was not moved

Title, line 1, after “provision” insert “(with retrospective effect)”


Explanatory Text

<p>This probing amendment, connected to another in the name of Lord Anderson of Ipswich, seeks to draw attention to the Bill’s retrospective effect, if amended.</p>

10

Lord Anderson of Ipswich (XB)
Lord Holmes of Richmond (Con)
Tabled: 24 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was withdrawn

Title, line 1, leave out “capable of” and insert “not prevented from”


Explanatory Text

<p>This probing amendment seeks to restate the long title more clearly, so that it is consistent with the operative clause of the Bill.</p>

20th January 2025
Amendment Paper
HL Bill 31 Running list of amendments – 20 January 2025

7

Lord Ponsonby of Shulbrede (Lab)
Tabled: 20 Jan 2025
HL Bill 31-I Marshalled list for Special Public Bill Committee
This amendment was agreed

Clause 2, page 1, line 8, leave out “only” and insert “and Northern Ireland”


Explanatory Text

<p>This amendment extends the territorial extent of the Bill so that it will form part of the law of Northern Ireland as well as that of England and Wales.</p>

13th November 2024
2nd reading: Minutes of Proceedings (Lords)
13th November 2024
2nd reading (Lords)
6th November 2024
Second reading committee: Minutes of Proceedings (Lords)
6th November 2024
Second reading committee
29th October 2024
Briefing papers
Property (Digital Assets etc) Bill [HL]: HL Bill 31
21st October 2024
Impact Assessments
Impact Assessment from the Ministry of Justice
15th October 2024
Select Committee report
Second Report of the Delegated Powers and Regulatory Reform Committee
11th September 2024
1st reading (Lords)
11th September 2024
1st reading: Minutes of Proceedings (Lords)
11th September 2024
Explanatory Notes
HL Bill 31 Explanatory Notes
11th September 2024
Bill
HL Bill 31 (as introduced)