Legal Property Rights refer to the recognized and enforceable entitlements that individuals or entities possess over assets, whether physical or digital. These rights typically include the ability to own, use, transfer, exclude others from, and derive income from property. In the context of digital assets, these rights define ownership and control over cryptocurrencies, tokens, and other blockchain-based holdings. They are fundamental to economic activity and wealth preservation.
Context
The clarification and enforcement of legal property rights for digital assets remain a critical area of development and regulatory discussion across jurisdictions. Debates often address how existing legal frameworks apply to novel digital asset classes and the need for new legislation. Establishing clear legal property rights is essential for fostering investor confidence and enabling the widespread adoption of digital economies.
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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