2022 UCC Amendments, Including the New Article 12 on Digital Assets

The 2022 amendments to the Uniform Commercial Code (“UCC”) are coming! They address a defined set of transactions largely involving emerging technologies, such as cryptocurrencies, distributed ledger technologies, and, to a limited extent, artificial intelligence. The amendments span most of the Articles of the UCC, including Article 9 on secured transactions, and add a new Article 12 addressing digital assets. The amendments are being introduced in state legislatures throughout the country and have already been introduced in Massachusetts for the 2023 legislative session. Learn about these amendments so that you can be prepared to advise your clients in anticipation of the amendments becoming effective in Massachusetts and other states.