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After Ftx: Can The Original Bitcoin Use Case Be Saved?, Mark Burge
After Ftx: Can The Original Bitcoin Use Case Be Saved?, Mark Burge
Faculty Scholarship
Bitcoin and the other cryptocurrencies spawned by the innovation of blockchain programming have exploded in prominence, both in gains of massive market value and in dramatic market losses, the latter most notably seen in connection with the failure of the FTX cryptocurrency exchange in November 2022. After years of investment and speculation, however, something crucial has faded: the original use case for Bitcoin as a system of payment. Can cryptocurrency-as-a-payment-system be saved, or are day traders and speculators the actual cryptocurrency future? This article suggests that cryptocurrency has been hobbled by a lack of foundational commercial and consumer-protection law that …
Floating Liens Over Crypto-In-Commerce, Christopher K. Odinet, Andrea Tosato
Floating Liens Over Crypto-In-Commerce, Christopher K. Odinet, Andrea Tosato
Faculty Scholarship
Commercial law and crypto are colliding. Against the backdrop of explosive growth (and discord) in the digital asset market, there has been a series of recent revisions to American commercial law aimed at addressing new and emerging technologies. These changes to the Uniform Commercial Code (UCC) are designed to facilitate the buying and selling of digital assets as well as their use as collateral. However, to date, the literature exploring these changes has mainly focused on understanding the basics of the new regime. This Essay moves beyond that baseline by showing how the UCC amendments can be used to structure …