14 Mar 2023

Moses Singer forms digital assets practice

MSI's New York City law member Moses Singer has formed an interdisciplinary practice, led by partners William Tanenbaum and Wai Chan, focused on business and legal issues raised by and related to digital assets and technologies. 

The Digital Assets practice provides services across business sectors and consists of lawyers from the Firm’s practice groups in Banking & Finance, Bankruptcy & Creditor's Rights, Corporate, Healthcare & Life Sciences, Intellectual Property, Entertainment/Media & Technology, Litigation, Private Clients, and Real Estate, as well as the Privacy & Cybersecurity practice in our consulting subsidiary, MS Strategic Solutions.

Members of the practice have comprehensive knowledge of the 2022 Amendments to the Official Text of the Uniform Commercial Code (the “UCC”) which are designed to modernize commercial law governing digital assets and technology.  Two members, partners Michael Evan Avidon and Alan Kolod, served as Observers to the Uniform Law Commission Emerging Technologies drafting committee, which drafted the 2022 Amendments.  The 2022 Amendments have already been introduced in at least twenty state legislatures.

The practice’s article, Summarizing the Reasons New York Should Enact the Proposed New York Amendments to the Uniform Commercial Code Dealing with Digital Assets and Technologies, as Recommended by the New York City Bar Association, written by Michael and Alan, is available here.   

Our ability to provide up-to-date counseling benefits from Alan’s service as chair of the drafting subcommittee of the Commercial Law and Uniform State Laws Committee of the New York City Bar Association, which prepared the Report endorsing enactment of the New York version of the Amendments, recently announced by the New York City Bar’s Task Force on Digital Technologies. Alan and Michael had significant involvement in drafting that City Bar Report, which is available here.   

Further, in addition to their work on the City Bar Report, Michael was involved in drafting the portion of the 2022 Amendments affecting Article 5 of the UCC, and Alan was involved in drafting the New York-specific sections of the New York version of UCC Article 12 recommended for enactment by the Report.   Alan and Bill Tanenbaum are members of the New York City Bar’s Digital Technologies Task Force, and Bill serves as a co-chair of the AI Subcommittee of the Task Force.  Alan was also significantly involved in the legislative process that led to enactment of New York’s current remote electronic notarization amendment to the Executive Law, which provides legal underpinning for the use of digital technology in New York.

The Moses Singer Digital Assets practice guides clients in navigating the risks and taking advantage of the benefits of using digital assets and technologies in business, finance, and personal matters, including with respect to the impact of the 2022 Amendments to the UCC.