Repossessions: 2.2.3a The 2022 UCC Amendments
The 2022 UCC amendments focus on providing rules for commercial transactions involving virtual currencies, distributed ledger technologies (including blockchain), artificial intelligence, and other technological developments. The amendments add a new Article 12 addressing certain types of digital assets defined as “Controllable Electronic Records” (CERs). Extensive changes are made throughout the rest of the UCC Articles to conform to the new Article 12 rules.