Why Crypto Needs UCC Article 12

While the updates to the UCC address the certainty of commercial transactions involving crypto, the UCC does not address other substantive law that might affect these assets; look elsewhere for clarity as to securities and commodity regulation, intellectual property, tax, sanctions, anti-money laundering or the rights of digital exchange customers. Article 12 creates defaults and gap fillers, so parties can transact under a common set of rules without having to negotiate complex agreements in the course of their transactions.