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#75 - UCC Article 12 Amendments with Drew Hinkes and Andrea Tosato

Law of Code

CHAPTER

Is Bitcoin a General Intangible?

Prior to article 12, something like Bitcoin is just a general intangible. The commercial rules for the buying and selling of general intangibles don't work like that. Article 12 makes the law consistent with what is going on in the market by putting in this take free rule. We get closer to the idea that if you control the asset, it is your asset without anybody having legal claims. But we haven't quite gotten to private key control equals ownership yet.

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