The UK Just Made Digital Assets Legal Property. Australia Still Treats Them Like They Don't Exist.
The UK Solved the Digital Property Problem in One Act. Australia Is Still Arguing About It.
In March 2025, the UK Parliament passed the Digital Assets (Property) Act — a clean, decisive piece of legislation that does one thing extremely well: it classifies digital assets as personal property under English and Welsh law.
Bitcoin. Ethereum. NFTs. Domain names. Carbon credits. In-game items. If it's a digital thing with value, it's now property. Full stop. That means it can be owned, inherited, stolen, and recovered through the courts — just like a house or a car.
Australia, meanwhile, is still in the High Court debating whether Bitcoin counts.
What the UK Actually Did
The Digital Assets (Property) Act creates a third category of personal property. English law traditionally recognises two: things in possession (physical objects) and things in action (debts, shares, contractual rights). Digital assets didn't fit neatly into either — until now.
The new law:
- Confirms digital assets are property — ending years of legal ambiguity
- Creates a technology-neutral framework — it doesn't list specific assets, so it covers crypto, NFTs, tokenised securities, and anything that emerges next
- Enables full legal remedies — digital assets can now be the subject of trusts, collateral arrangements, and estate transfers with the same certainty as traditional property
- Applies to existing assets — it's not just forward-looking; assets that exist today are covered
This wasn't rushed. The UK Law Commission spent three years studying the question and published a detailed report in 2023 recommending the reform. Parliament acted. The law passed.
Where Australia Stands
Australia is dealing with the same question — but through the courts, not Parliament.
Poulton v Conrad is currently before the High Court of Australia, and it will determine whether Bitcoin is capable of being property at common law. Until the ruling lands, the legal status of crypto assets in Australian estates remains uncertain.
Lower courts have been promising:
- The Supreme Court of Victoria held Bitcoin to be personal property in Re Blockchain Tech Pty Ltd (2024)
- The Victorian Court of Appeal confirmed Bitcoin can be stolen in Yeates v The King
- Several Federal Court decisions have treated crypto as property for freezing orders and receiverships
But none of these are binding at the highest level. And while the High Court deliberates, every Australian family with crypto in their estate sits in a legal grey zone.
Why This Matters for Your Estate
The practical difference is stark.
In the UK:
- Your executor can claim your Bitcoin as estate property — with the same legal certainty as claiming your house
- Courts can issue orders to recover lost or stolen digital assets
- Trusts can hold digital assets with clear legal standing
- Estate lawyers don't have to argue from first principles every time
In Australia:
- Your executor's claim to your Bitcoin depends on which court they're in and which precedent the judge follows
- The High Court hasn't ruled yet — so every crypto estate case carries uncertainty
- Estate lawyers are working with analogies and lower-court precedents, not a clear statute
- Self-custody crypto (hardware wallets, seed phrases) exists in an even deeper legal vacuum
The Digital Assets Framework Bill (passed April 2026) doesn't solve this. It regulates crypto platforms — exchanges need a licence, AUSTRAC tracks transfers — but it says nothing about whether crypto is property in the hands of an individual or their estate.
The International Scorecard
The UK isn't the only country that's moved:
| Country | Status | Year |
|---|---|---|
| UK | Digital Assets (Property) Act — full property status | 2025 |
| EU | MiCA — comprehensive crypto regulation across 27 states | 2024 |
| Utah | Uniform Electronic Estate Planning Documents Act — electronic wills valid | 2025 |
| Japan | Payment Services Act + Financial Instruments Exchange Act — full framework | 2023 |
| Singapore | Payment Services Act — comprehensive digital asset regulation | 2020 |
| Australia | Digital Assets Framework Bill — exchange licensing only | 2026 |
Australia is regulating platforms. The UK is recognising property rights. These are not the same thing.
What You Can Do While Australia Catches Up
The law will get there eventually. The High Court will rule. Parliament may act. The NSW Law Reform Commission has already flagged the need for reform. But your estate can't wait for the legislative calendar.
- Document everything. Every crypto holding, every exchange account, every hardware wallet location, every seed phrase. Your executor needs a complete inventory.
- Include digital asset provisions in your will. Even without specific legislation, a clause granting your executor authority over digital assets provides a foundation — especially with supporting case law from Victoria.
- Use platform legacy tools now. Google Inactive Account Manager, Apple Legacy Contact, exchange-specific inheritance features. They're imperfect but they're available today.
- Consider a Digital Directive. A professional inventory of your entire digital life — not just crypto, but every account, credential, and instruction your executor needs — with verified release when needed.
The UK solved this with one clean Act. Australia will get there. But your family shouldn't have to wait.
NYLK builds Digital Directives — a professional inventory of your entire digital life with verified executor release when needed. Start your Digital Directive →
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