[walterbell]

> 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.

[conception]

Being legal and being useful are different.

[walterbell]

The legality is new. Time will determine the success of legal + useful applications.