Uniform Commercial Code Posts
Crypto and the Property Question
Is crypto property? The proliferation of digital assets such as cryptocurrencies, stablecoins, memecoins, and NFTs has confronted legal systems worldwide with three interdependent challenges: determining whether they are property, identifying their appropriate classification within property taxonomies, and establishing rules for their circulation in commerce. Our Article addresses this tripartite question—the Property Question—within American law.
Debt Tokens
This Article offers the first comprehensive analysis of debt tokens, addressing their flaws, potential within the framework of the 2022 amendments to the Uniform Commercial Code, and the socio-economic impacts of widespread adoption.
New UCC Article 12: Applying the Rules to Practice
This ALI CLE course discusses the new UCC Article 12, which outlines definitions and rules for transferees who obtain control of certain digital assets as the article is being increasingly accepted by state legislatures.
Floating Liens Over Crypto-in-Commerce
This Essay shows how the UCC amendments can be used to structure more complex secured credit arrangements that tap into the borrowed capital potential of blockchain technology.
Free Webinar on UCC And Digital Assets
The Uniform Law Commission will present a free one-hour webinar, entitled 2022 UCC Amendments Part I: Digital Assets, on August 31, at 1:00 p.m. ET.
Now You See It Now You Don’t – How the UCC Amendments Will Undo Bitcoin’s Brief Status as Money
Following the approval of the 2022 joint American Law Institute and Uniform Law Commission project Amendments to the UCC, this article describes the effects of some of the amendments relating to electronic money on cryptocurrencies in general and Bitcoin in particular.
ULC Approves ALI Joint Project on UCC and Emerging Technologies
At its annual meeting, the Uniform Law Commission voted to approve 2022 joint ALI project Amendments to the UCC, recommending amendments or revisions to accommodate emerging technological developments.
How El Salvador Has Changed U.S. Law by a Bit: The Consequences for the UCC of Bitcoin Becoming Legal Tender
As the first country to adopt Bitcoin as legal tender, El Salvador made world history and sparked many debates and predictions about the effects its decision may have on the Central American nation and its economy. Beyond such consequences, El Salvador has, wittingly or unwittingly, changed the legal effects of various provisions in the Uniform Commercial Code. This Article explores some of the consequences wrought by El Salvador’s bold action
Project Updates from the 2022 ALI Annual Meeting
Learn more about the actions taken at this year’s ALI Annual Meeting, held last month, where the membership met to discuss and vote on twelve ALI project drafts.
Machines and Contractual Intent
Machines are making contracts—law is not ready. This paper describes why machine-made contracts do not fit easily into the common law of contracts or the Uniform Commercial Code for Sales.