USDT Has Been Recognized as Property: How This Will Change the Crypto Market

A court in the UK has decided that the digital currency USDT is the same property as money or shares. This means that cryptocurrencies will now operate under the same rules as regular money.

For example:

• earned money on crypto — pay taxes;
• transferred crypto — wait for bank approval;
• have debts — cryptocurrency can be taken away to pay off these debts.

However, now it will be possible to inherit not only debts, but also crypto.

On the one hand, this is good news, since this step removes the uncertainty of the position of cryptocurrencies and strengthens trust in digital money.

On the other hand, looking at the recent prosecution of Binance, one should not count on an improvement in the legal climate of the cryptocurrency market. Most likely, the legislation in the field of digital assets will change towards a tightening of the regulatory regime for stablecoins and other cryptocurrencies, especially in the UK and countries where British law has influence. However, many countries can use this precedent as a guideline when developing their own regulations in the field of stablecoins and digital currencies in general.

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