Technology
Bitcoin and NFTs could get more legal protection as ‘personal property’ under proposed UK law
UK Government he introduced a brand new bill in parliament that proposes recent legal protections for digital assets such as cryptocurrencies, non-fungible tokens (NFTs) and carbon credits.
The bill comes as the cryptocurrency sector faces a series of regulatory headwinds: In the U.S., the Securities and Exchange Commission (SEC) ruled that some crypto assets are securities, and earlier this 12 months, the SEC approved the primary U.S.-listed exchange-traded fund (ETF) to trace Bitcoin. Meanwhile, the European Union (EU) can also be rolling out recent rules to control cryptocurrencies and make it easier to trace transactions.
Great Britain is we’re working on similar regulationsbut recent Asset Bill (Digital Assets etc.) fairly, it’s about legalizing digital assets as “personal property,” meaning they’ve the identical rank as traditional assets.
The proposed law is a response to Report 2023 from the Law Commission, which outlined the necessity to update the present laws on personal property rights. The report noted:
As technology advances and people spend more time online, our relationship with digital assets will develop into even more essential… Our recommendations also aim to be certain that the private law of England and Wales stays a dynamic, globally competitive and flexible tool for market participants in the world of digital assets.
Law Commission: Digital Assets – Final Report Summary
The concept of “personal property” is significant in law since it plays a central role in legal matters referring to bankruptcy, insolvency, theft, inheritance, divorce proceedings and more. Currently, the law in England and Wales (Scotland and Northern Ireland have separate legal systems) governs two categories of property: tangible goods such as cars, jewellery and money, known as “things in possession”. Separately, “things in action” concerns the protection of intangible assets such as shares, debts and mental property.
That leaves an enormous loophole for “digital” assets like Bitcoin and similar cryptocurrencies, as well as NFTs like digital art (which have modified hands for significant amounts in recent times). This recent, third category, if passed, would bring greater clarity to what constitutes personal property and make it easier for courts to resolve disputes.
For example, a court could issue a freezing order to stop someone from dissipating digital assets before a dispute is resolved, very like a court would for tangible goods. Or if someone steals their digital assets as a part of a fraud, they could pursue greater legal remedies.
Additionally, such a law would mean that digital assets could develop into a part of an individual’s estate for the needs of probate or bankruptcy proceedings.
What’s next?
The bill got here first published in draft form in July, but has now reached the primary reading stage within the House of Lords, where it’s going to must undergo a series of debates and amendments before going to the House of Commons.
There continues to be a protracted strategy to go before the law comes into force, but there are currently around Labour Party majority governmentso there’s a high probability that this bill will ultimately be passed – however it will not be clear in what form and with what provisions.
For example, what will likely be considered “digital assets” under the brand new laws? In theory, the term covers a wide selection of topics, such as email accounts and files, carbon credits and in-game digital assets. The Law Commission I admit this, noting that there’ll likely be “borderline issues” across the digital asset spectrum. He also recommends the so-called “customary law“approach”, indicating that the law may require a trial in court, during which the presiding judge issues a ruling in each individual case to determine precedents as as to if personal property rights ought to be granted to an asset in a specific case.
However, the Ministry of Justice and the Law Commission have been clear that the “main” digital assets they consider are protected are crypto-tokens such as cryptocurrencies and NFTs.
Technology
US medical device giant Artivion says hackers stole files during a cybersecurity incident
Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.
In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.
Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”
Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.
Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.
The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.
The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.
More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)
Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.
The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.
Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.
In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.
According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.
The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.
However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.
Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.
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