TriBar Releases Report on Digital Asset Opinions under UCC Article 12

The official drafting committees of the Uniform Commercial Code have promulgated proposed amendments (the “2022 Amendments”) to address transactions with certain digital assets, notably adding a new Article 12 on Controllable Electronic Records.  As the 2022 Amendments are slowly enacted by states, one key question finance lawyers and their clients need to address is how to adapt current legal opinion practice for the 2022 Amendments in real-world transactions….
By: Cadwalader, Wickersham & Taft LLP
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