NY Bar Association aims to attract crypto firms with tech amendments

The Bar Association is making efforts to uphold New York's dominant position not just in conventional financial transactions, but also in digital asset transactions.

An amendment has been proposed by the New York City Bar Association pertaining to emerging technologies like digital assets.

The goal is to allure crypto firms to establish their headquarters in New York and uphold the city’s standing as a top commercial platform.

The New York Emerging Technologies Amendments is aiming to encourage technological and commercial evolution that lower transaction expenses and improve the security and efficiency of financial transactions as per the New York Uniform Commercial Code (UCC).

These advantages were stressed by the Bar Association as significant factors for businesses when deciding to establish operations in New York or considering it as the jurisdiction for settling legal disputes.