Article 12 Amendments to UCC Can Fix 'Fatal Flaws' of Laws Governing Digital Assets
Updating the NY UCC will further New York's well-established policy of encouraging New York choice of law and jurisdiction in commercial contracts and will help facilitate ever-growing electronic commerce in New York.
June 07, 2024 at 10:00 AM
8 minute read
BankruptcyIn early 2013, I started hearing exciting things from clients and friends about a new type of currency called Bitcoin. At the time, a Bitcoin was trading for less than $100 but it appeared to be on a sharp upward trajectory. I endeavored to learn as much as I could about this new type of asset and to find out whether it was something I should invest in or whether it was a fad, like pet rocks and Cabbage Patch dolls. And because Bitcoin was completely unregulated, I wanted to make sure I understood the legal risks of doing so.
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