Commercial Law is the body of law governing business transactions and commercial activities. It addresses contracts, sales, negotiable instruments, secured transactions, and other matters related to trade and commerce. This legal framework provides predictability and structure for economic interactions between parties. Its principles are being adapted to address novel situations in digital asset markets.
Context
The application of commercial law to digital assets is a rapidly developing area, with legal systems globally seeking to classify and regulate cryptoassets within existing frameworks. Key discussions revolve around how established concepts of property, contract, and security interests apply to blockchain-based assets. Legal clarity in this domain is considered vital for broader institutional participation and market stability.
New UCC Article 12 establishes "control" as the perfection standard for security interests in digital assets, fundamentally de-risking secured lending.
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