In 2022, certain proposed amendments to the Uniform Commercial Code (UCC) were approved to address requests from market participants for more certainty in the law around transfers and financing of digital assets. The changes reflect the increasing impact emerging technology, such as artificial intelligence, virtual currency, blockchain, and distributed ledger technology (DLT), has had on commercial transactions in recent years.

The amendments (Proposed 2022 UCC Amendments) involve revisions to most Articles of the UCC, including the official comments, and include the addition of UCC Article 12.

This Toolkit highlights Practical Law's resources relating to the Proposed 2022 UCC Amendments, including the status of adoption by each state as they are introduced and enacted by states.