Oregon passes SB 167 to establish legal control standards for digital assets
Internet reports that Oregon Governor Tina Kotek signed Senate Bill 167 (SB167) on May 7, updating the state's business regulations to the Uniform Commercial Code (UCC), clearly incorporating provisions related to digital assets. The new bill introduces UCC Article 12 to establish a legal framework for cryptocurrencies, tokenized records and electronic money, and amends UCC Article 9 to allow digital assets to be used as collateral for mortgage transactions. In addition, the bill recognizes the legal effect of electronic records, electronic signatures and hybrid transactions to support the development of digital commerce.
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.
