News & Events

On this historic day, Pakistan’s flag was raised for the first time, and the country’s national anthem was played, signifying the birth of a new nation. Nationwide, the day is marked by flag-raising ceremonies, military parades, cultural performances, and fireworks displays. The President and Prime Minister of Pakistan deliver speeches honoring the sacrifices and achievements of the nation’s founding fathers and the people.

Beyond the official celebrations, families and communities come together to commemorate the occasion. Homes and public spaces are decorated with the national flag, and traditional dishes are prepared to mark the festivities. The day is a time to reflect on the country’s rich history, its struggles for independence, and the aspirations of its people for a prosperous and united future.

For this day, festivities include grand parades in Kingston featuring vibrant displays of the national colors, cultural performances showcasing reggae and traditional dance, and the Jamaica Independence Festival with contests and concerts. Communities across the island come together for local festivals filled with traditional foods, arts, and crafts, while fireworks light up the night sky. The celebrations often extend from Emancipation Day on August 1, creating a week of cultural pride known as “Emancipendence.”

The Law Commission of England and Wales has proposed a new legal classification for crypto assets, recommending they be recognised as a distinct form of personal property. The current legal framework categorises personal property into tangible and intangible and does not adequately address the complexities of digital assets like cryptocurrencies and NFTs. The Commission suggests creating a “third category” specifically for digital assets to resolve this, ensuring clearer and enforceable property rights. A draft bill has been issued to outline this framework, with further development delegated to the courts. This proposal is under government review, alongside a consultation by the Bank of England and the FCA on using distributed ledger technology for digital securities. The initiative aims to modernise legal structures, supporting the growth and stability of the digital assets sector in England and Wales.

Read the original article here: https://www.msn.com/en-us/money/markets/law-commission-of-england-and-wales-suggests-new-property-classification-for-crypto-assets/ar-BB1r3dF1?ocid=BingNewsVerp