The Oregon House passed Senate Bill 167 on final reading to update the state's adoption of the Uniform Commercial Code and to better integrate virtual or digital currencies into Oregon commercial law.

Representative Mannix, presenting the bill from the Judiciary Committee at the request of the Oregon State Bar's debtor‑creditor section, said the changes respond to new business patterns involving virtual currencies such as Bitcoin. Mannix said the current UCC terminology and general provisions are not well suited to virtual currencies used as property or collateral and that SB 167 aligns Oregon with similar updates adopted across other states.

Mannix told the chamber the bill aims to provide clarity and predictability for buyers, sellers, borrowers and lenders that use digital assets. After a brief presentation and no floor debate, the clerk recorded that Senate Bill 167 had received the constitutional majority and declared it passed. The transcript does not include a roll‑call tally of individual votes on final passage.

The bill modifies Oregon's codification of the UCC to address newer asset types; Representative Mannix said it follows a trend of UCC modernization nationwide.