⚡The UCC Commercial Law revision in the United States mentioned by China's Supreme Court journal in 2022 addresses what issues?——

In a nutshell:

👉 Traditional commercial law was designed for “paper contracts + physical property + bank accounts,” and can no longer cover new transaction forms such as electronic contracting, digital currencies, and on-chain assets.

Therefore, the core goals of this revision are mainly reflected in four key points——

1️⃣ Officially recognize that “electronic transactions” are the norm in commercial law. As long as the equivalence and transaction functions are fulfilled, the medium does not matter.

2️⃣ Reconstruct the legal classification system of “currency”

No longer use a one-size-fits-all approach of “is it legal tender,” but adapt different rules based on function, transferability, and control methods.

👉 This leaves room for legal treatment of assets like USDT, USDC, BTC, ETH, rather than excluding them directly from the legal system.

3️⃣ Create a new property type: Controllable Electronic Records (CER)

This is the most critical and cutting-edge point of the entire article!

The law recognizes that “control” over digital assets can be equivalent to “possession” of physical assets.

Based on this, transfer rules are designed, and a good-faith acquisition system is introduced.

This is a systemic response to “code is law.”

4️⃣ Revolution in guarantee systems: Control > Registration

In traditional commercial law, intangible property guarantees rely on registration and public notice.

But in UCC 2022, for CER (such as virtual currencies), it allows “control” to perfect security interests.

For DeFi / digital assets, this provides a legal basis for “institutionalized guarantees.”

In simple terms, the conclusion of this journal author is quite restrained, but the meaning is very clear:

As transactions become digital, Chinese commercial law must evolve, or it may take decades to catch up with this gap!