Oregon Establishes Digital Asset Control Standards

Oregon Updates Commercial Laws to Include Digital Assets

• Oregon passed Senate Bill 167, signed by Governor Tina Kotek on May 7.
• The bill updates the Uniform Commercial Code (UCC) to include digital assets.
• Digital assets can now be used as collateral in secured transactions.
• The law recognizes electronic records and signatures.
• Transitional provisions allow a one-year compliance period for existing security interests.

Oregon’s Senate Bill 167, signed into law on May 7, incorporates digital assets into the UCC, allowing them to be used as collateral and recognizing electronic records and signatures. The bill includes transitional provisions for existing transactions.