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#92 - Explaining the 2022 UCC Amendments, with Professor Carla Reyes

Law of Code

CHAPTER

The Amendments to the UCC and the CVDC

Industry members came and asked for new rules, right? It's not like a bunch of us professors were sitting around thinking how can we change the UCC. One thing that wasn't working was that cryptocurrencies are general and tangible and you have to file to perfect. The amendments offer control defined in a new way as a method of perfection so that they industry members don't have to file financing statements against their debtors. And it offers customers what they wanted, which was greater privacy in their transactions.

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