3 ms·
>>The usage of the word “money” in other contexts supports this plain meaning. For example, the Uniform Commercial Code defines money as “a medium of exchange
by otoburb 5y ago
>>The usage of the word “money” in other contexts supports this plain meaning. For example, the Uniform Commercial Code defines money as “a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by intergovernmental organization or by agreement between two or more countries.” U.C.C. § 1-201(b)(24). To be sure, the U.C.C. does not control the use of the term “money” in § 1960. But the U.C.C.’s widespread adoption and its purpose—to “simplify, clarify, and modernize the law governing commercial transactions, U.C.C. § 1-103(a)(1)—makes it a useful barometer of the ordinary usage for a broad, non-technical term like “money.”
UCC §1-103 was brought up[1] when El Salvador announced they would adopt bitcoin as legal tender[2] on September 7, 2021. The defense should perhaps remove this argument from their motion as a result.
[1] https://twitter.com/CaitlinLong_/status/1401334424160047107 https://twitter.com/CaitlinLong_/status/1401334424160047107
[2] https://www.reuters.com/world/americas/el-salvador-approves-first-law-bitcoin-legal-tender-2021-06-09/ https://www.reuters.com/world/americas/el-salvador-approves-...