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Ohio updates Uniform Commercial Code to recognize digital assets and crypto
Summary
The House passed House Bill 195 to revise Ohio’s Uniform Commercial Code to address digital assets, including cryptocurrencies and NFTs, with sponsors saying the changes align Ohio with other states and provide clearer rules for secured lending and ownership of electronic records.
The Ohio House on Nov. 4 approved House Bill 195, a measure to adopt revisions to the Uniform Commercial Code (UCC) that recognize digital assets and provide standards for control and security interests in electronic records. The clerk announced the vote in favor with 82 affirmative and 6 negative votes.
Representative Adam Matthews, the bill’s sponsor, told the chamber the UCC serves as a baseline legal…
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