While the updates to the UCC address the certainty of commercial transactions involving crypto, the UCC does not address other substantive law that might affect these assets; look elsewhere for clarity as to securities and commodity regulation, intellectual property, tax, sanctions, anti-money laundering or the rights of digital exchange customers. Article 12 creates defaults and gap fillers, so parties can transact under a common set of rules without having to negotiate complex agreements in the course of their transactions.
Why Crypto Needs UCC Article 12
