Seyfarth's James Sullivan authored an article, "Article 12 Amendments to UCC Can Fix 'Fatal Flaws' of Laws Governing Digital Assets," in the New York Law Journal on June 10. Sullivan discussed how Article 12 of the UCC created clear rules governing the procedures needed to transfer clear title to digital assets and how to create a first priority security interest in such interests.
"Updating the NY UCC will further New York's well-established policy of encouraging New York choice of law and jurisdiction in commercial contracts and will help facilitate ever-growing electronic commerce in New York."
You can read the full article here.
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