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Senate orders third reading of UCC overhaul to cover digital assets and hybrid transactions
Summary
The Senate ordered third reading of H.206, a comprehensive update to the Uniform Commercial Code to address digital assets (controllable electronic records), electronic money, hybrid transactions and other electronic-era changes; sponsors said the changes take effect July 1, 2025.
The Vermont Senate ordered third reading of H.206, a broad update to the Uniform Commercial Code that adds rules for digital assets and modernizes language to account for electronic records and signatures.
Senator Cummings, reporting for Senate Finance, described the bill as a long and technical package that updates UCC provisions to reflect electronic commerce and new asset…
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