Digital Assets and Changes to the UCC

Presenter: Bryon Mulligan

Wednesday, January 19, 2022
5:30 to 6:30 pm

Register by emailing Awilliams@hunton.com

A committee (the “Emerging Technology Committee”) appointed by the American Law Institute and the Uniform Law Commission, the sponsoring organizations of the Uniform Commercial Code, has been formulating amendments to the UCC to address emerging technological developments including those relating to digital assets and virtual currencies. The work began in 2019 and the current plan is for the amendments to be finalized over the next year with a view to having the amendments then offered for enactment by the states.

Bryon Mulligan, an active observer on the Emerging Technology Committee is the chair of the Article 7 Subcommittee of the UCC Committee of the ABA. Because of his position with the ABA, he’s been asked to comment on all of the Articles of the UCC as they relate to documents of title.

During this program, Bryon will summarize material aspects of proposed amendments with an eye to helping participants understand how these changes will be helpful in finance transactions we do every day. The focus of the presentation will be on new Article 12, and on controllable accounts and controllable payment intangibles in particular.