In past publications, this column reviewed proposed Uniform Commercial Code (UCC) amendments under consideration by the Emerging Technologies Committee, a joint committee consisting of members of the Uniform Law Commission (ULC) and American Law Institute. See Virtual Currencies (and Other Digital Assets) Under the UCC, 266 N.Y.L.J. No. 25 (Aug. 4, 2021); The UCC Emerging Technologies Committee: Part II (Chattel Paper), 267 N.Y.L.J. No. 66 (Apr. 7, 2022).

Once the ULC finalized these amendments in July 2022, the hope was that they would be “off-to-the races,” so to speak. Instead, while some states have weighed in as early adopters, others seem to be struggling with the new approach to “money,” giving rise to one much-discussed veto, a strongly worded 12-page response from the ULC, and a proposed “hip pocket” amendment as a compromise fix.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]