Comment by walterbell
6 months ago
> It's basically only useful for illegal action
Blockchain assets ("controllable electronic records") are defined in the UCC (Uniform Commercial Code) Article 12 that regulates interstate commerce, https://news.ycombinator.com/item?id=33949680#33951026. Some states have already ratified the changes, others are in progress.
U.S. federal stablecoin legislation was passed earlier this year.
Being legal and being useful are different.
The legality is new. Time will determine the success of legal + useful applications.