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07 March 2025 / Jessica Boxford , Joseph Evans , Cassidy Fan
Issue: 8107 / Categories: Features , Insolvency , Technology , Crypto , Property
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The future of insolvency: a digital asset revolution

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The definition of ‘property’ is about to expand: Jessica Boxford, Joseph Evans & Cassidy Fan explore the impact on insolvency practitioners
  • The Property (Digital Assets etc) Bill will widen the definition of ‘property’ in general law. This means officeholders can, with increased certainty, exercise their statutory powers over digital and unconventional assets.
  • The Bill also introduces additional costs and complexities due to the highly diverse and evolving nature of digital assets.

The new Property (Digital Assets etc) Bill introduced into Parliament on 11 September 2024 will widen the definition of ‘property’ in general law. This article considers the impact of the Bill on the law relating to insolvency.

The Bill will expand what property constitutes the insolvent estate. This means officeholders can, with increased certainty, exercise their statutory powers under the Insolvency Act 1986 (IA 1986) over digital and unconventional assets. This could potentially mean those assets could be realised, and creditors could receive a larger dividend from the distribution

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NEWS
The Law Society RFC Festival of Sport returns next month, bringing together legal and financial services professionals for one of the sector’s largest annual sporting events
Legal aid deserts leave almost one in four without adequate access to justice
The Solicitors Regulation Authority (SRA) has warned solicitors and law firms that using artificial intelligence does not alter their professional obligations, amid concerns over inaccurate legal material and client confidentiality
From forgotten interest claims to case-management appeals, a string of procedural developments offers useful—and occasionally cautionary—lessons for practitioners

Jonathan Fisher KC highlights that it now accounts for around 40% of criminal offences, with roughly 70% involving technology, and argues that the UK cannot simply prosecute its way out of the problem. Detection, investigation and prosecution all require improvement, while different fraud types demand tailored responses.

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