Digital Assets and Commercial Law: What Are the States Doing?

Digital asset technology is evolving rapidly and outstripping current commercial law rules. While there are a number of legislative proposals for regulation at the federal level, commercial law has largely been the domain of state law. There is tremendous pressure in the marketplace for state legislation to address the commercial law rules for virtual currency, nonfungible tokens, electronic payment rights (beyond electronic chattel paper and electronic documents of title), proposed digital US dollars, and other digital assets.

Join us as Edwin Smith and Kristen Campana discuss the work of the American Law Institute/Uniform Law Commission Committee in recommending changes to each state’s Uniform Commercial Code and legislation already enacted or proposed by Wyoming, Texas, Arkansas and other states. This program will center on commercial law, with a particular focus on the rights of buyers and secured parties.