A Summary of the Newest UCC Provisions Related to Digital Assets that are (Possibly) Coming to Your State

Many community banks are contemplating the future of digital assets and the role they will play in the financial services industry. The various possibilities and issues related to virtual currencies, non-fungible tokens, and other digital assets are endless.

One of the primary difficulties in understanding how these assets will work into the daily lives of community banks is the fact that the law surrounding the assets is far from settled. For example, what is the proper way to perfect a security interest in a virtual currency?

The recently introduced Article 12 to the UCC is best seen as the beginning of an attempt to address these difficult and novel issues. There are many state legislatures that will give these provisions consideration in coming legislative sessions.

Join us for a summary of the proposed Article 12 of the UCC and to receive a broad overview of its provisions and the issues as you prepare to engage in grassroots lobbying efforts with state legislatures

Learning Objectives:

• Learn about Article 12 of the UCC.

• Understand the future of digital assts and the role they play in the financial services industry.

• Outline the provisions and issues of the article.
  

Recorded February 7, 2023.