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Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin, Evan Hewitt
Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin, Evan Hewitt
Seattle University Law Review
This Note will undertake to analyze bitcoin under the Uniform Commercial Code (UCC) and the Internal Revenue Code (IRC)—two important sources of commercial law—to see whether any existing asset categories adequately protect bitcoin’s commercial viability. This Note will demonstrate that although commercial law dictates that bitcoin should—nay must—be regulated as a currency in order to sustain its existence, the very definition of currency seems to preclude that from happening. Therefore, this Note will recommend that we experiment with a new type of asset that receives currency-like treatment, specifically designed for cryptocurrencies, under which bitcoin can be categorized in order to …
A Leap Forward: Why States Should Ratify The Uniform Computer Information Transactions Act, David A.P. Neboyskey
A Leap Forward: Why States Should Ratify The Uniform Computer Information Transactions Act, David A.P. Neboyskey
Federal Communications Law Journal
The Uniform Computer Information Transaction Act (UCITA) has been presented to the states for their ratification. Patterned after the Uniform Commercial Code (UCC), UCITA began as an addition to the UCC, but differences between the statutes required UCITA to emerge as a separate entity. The National Conference of Commissioners of Uniform State Laws (NCCUSL) drafted UCITA and approved the Act in Summer 1999. The Act now awaits approval by state legislatures. This Comment analyzes UCITA and argues that the states should ratify the Act. The Comment favorably compares the UCC and UCITA. The UCC follows the principle of "freedom of …