In yet another blockchain-friendly bill signed into law by the
governor of Wyoming in February 2019, the state granted certain
virtual currencies "super-negotiability" status similar
to money under the framework of existing laws.
Under the U.S. Uniform Commercial Code, which applies to
virtually all commercial transactions, money is entitled to a
special status known as "super-negotiability," which
means that someone who accepts a dollar bill in good faith need not
worry whether a previous holder of the bill has encumbered the
dollar bill, such as by granting a lien or security interest on a
dollar to a third party. This is unlike other assets, where once it
is encumbered by a security interest, a lien holder can continue to
seek legal remedies against future holders of the asset even if the
future holder is not aware of the lien. Prior to the enactment of
the Wyoming bill, the treatment of bitcoin under the Uniform
Commercial Code was unclear, leaving bitcoin
