Uniform Commercial Code vs. Bitcoin – Bitcoints

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Published on September 2nd, 2015 | by bitcoin

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Uniform Commercial Code vs. Bitcoin

Much of the discussion of bitcoin in the popular press has concentrated on its status as a currency.
Putting aside a vocal minority of radical libertarians and anarchists, however, many bitcoin enthusiasts are concentrating on how its underlying technology – the blockchain – can be put to use for wide variety of uses.
In this Article, I examine the implications for bitcoin under the Uniform Commercial Code (the “U.C.C.”).
In Part 1, I discuss the characterization of bitcoin – which I am using generically to refer to any virtual or cryptocurrency – under Article 9.
If held directly by the owner, bitcoin constitutes a “general intangible”.

Source: Papers.ssrn.com



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