personal property, security interest, collateral descriptions, security agreement
This Article addresses the current state of academic discussion regarding the problems of creating an enforceable security interest under Article 9 of the Uniform Commercial Code (UCC) using virtual currency, such as bitcoin, as collateral. While academic discussion is helpful and, indeed, may one day be adopted by a court and become law, the primary problem in using virtual currency as collateral is the uncertainty regarding using Article 9 to create an enforceable security interest in virtual currency. Simply put, Article 9 does not specifically address virtual currency as collateral, and we have no case law at this time to rely upon.
Sharon E. Foster,
Virtual Currency as Crypto Collateral Under Article 9 of the UCC: Trying to Fit a Square Peg in a Round Hole,
73 Ark. L. Rev.
Available at: https://scholarworks.uark.edu/alr/vol73/iss2/2