New York City Bar Association. Photo: Monika Kozak/ALM NYC Bar Assoc. Proposes 'Modernizing' Amendments to Uniform Commercial Code Aimed at Cryptocurrencies, 'Digital Assets'
The bar association task force's proposed changes are "designed to modernize, rationalize and clarify New York's UCC," while preserving and, hopefully, expanding New York's status "as a commercial, financial and legal capital," according to a newly released 21-page report about the amendments.
February 22, 2023 at 09:40 AM
4 minute read
A New York City Bar Association task force is proposing amendments to New York state's Uniform Commercial Code, saying changes are needed in order for it to "effectively govern" digital-asset transactions, such as those involving cryptocurrencies, crypto-tokens, electronic money, electronic promissory notes and bills of exchange.
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