On the Money: Changes to the UCC’s Definition of Money – UCC 1–201(b)(24) – Part Three

The following article is part three of our series on the 2022 Amendments to the UCC. Please read the first two articles for context. I am going to get right to the point here – the reason that the definition of money has been changed in the 2022 Amendments is to accommodate and address the rise of digital assets and cryptocurrency. Please note that this article addresses the main definition of “money” in the UCC – the definition that appears in the General Provisions….
By: Cadwalader, Wickersham & Taft LLP