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INTRODUCTION "Cryptocurrency is a good idea on many levels," (1) tweeted Elon Musk, "and we believe it has a promising future." (2) At first, he was right. Cryptocurrency prices reached [...], In 2022, Congress proposed the Digital Commodities Consumer Protection Act to amend the Commodity Exchange Act and define a new type of commodity: digital commodity. The definition of digital commodity encompasses cryptocurrency and provides the Commodity Futures Trading Commission with jurisdiction over digital asset transactions. This definition of digital commodity has two important implications. First, it signals the lawmakers' tendency to generalize cryptocurrency as a commodity. Second, it brings complications into how creditors--especially individual crypto account holders-- can recover in the recent bankruptcy cases involving prominent crypto companies. This Comment contains four components. First, it provides a brief explanation of cryptocurrency and its underlying mechanism. Second, it reviews the debate over cryptocurrency's classification as a commodity versus as a security. Third, it presents an overview of the bankruptcy system and the effect of a bankruptcy discharge. Finally, this Comment argues that generalizing cryptocurrency as a commodity limits the ability of creditors--especially cryptocurrency account holders, who are often individual consumers--to seek recovery outside of bankruptcy. This Comment aims to bring the interests of consumer creditors to the attention of judicial and legislative bodies.

I. INTRODUCTION 297 II. AN OVERVIEW OF THE UNITED STATES' FEDERAL FINANCIAL AID SYSTEM 299 A. The History Behind the United States'Higher Education System 300 1. Historically Black Colleges and [...], The student loan crisis is a racial justice issue. Race/ethnicity is one of the strongest predictors of federal student loan default. Compared with other racial demographics, Black students are more likely to default and less likely to resume repayment after defaulting. Similarly Black students are more likely to have student loan debt than White, Hispanic, and Asian undergraduate students. (1) Overall, the student loan crisis disproportionately affects Black students compared to students of other races. My objective in this Note is to show why Black students are disproportionately impacted by the student loan crisis and to illuminate moral hazards posed by current federal student aid policies. Through the pending class action lawsuit Henry v. Brown University, this Note will also illustrate how even the most elite colleges and universities may be tempted to increase profit margins on the backs of the United States' poorest students. This Note will also discuss legislative, administrative, and private remedies to the student loan crisis, with a particular focus on whether antitrust law can provide a viable legal avenue for student debt relief.

INTRODUCTION: THE NONEXISTENT LEGAL RELIEF FOR THE STUDENT LOAN CRISIS In 2004 our nation's student loan debt stood at $345 billion. (1) Today, the student loan debt has more than [...]

Table of Contents I. Introduction 143 II. Debt Relief Primer 143 A. COD Is a Taxable Event 144 B. Debt Relief as a Part of the Sale or Exchange of [...], When encumbered property is sold, the taxation of that sale is different if the sale involves recourse debt as opposed to nonrecourse debt. This difference raises an intriguing question: when debt changes from recourse to nonrecourse, or vice versa, which rules will control? Examples of when debt changes from recourse to nonrecourse, or vice versa, include bankruptcy discharges, nonjudicial foreclosures in some states with deficiency statutes, some short sales in deficiency states, and the operation of section 1111(b) of the Bankruptcy Code. The Cottage Savings regulations, Regulation section 1.1001-3, have specific provisions designed to address what happens when debt changes from recourse to nonrecourse, or vice versa. These regulations are sometimes helpful to creditors (e.g., elections under section 1111(b)(2) of the Bankruptcy Code). Sometimes, they appear punitive to debtors (e.g., the mandatory conversion of recourse debt into nonrecourse debt in Chapter 11). And, sometimes, they do not provide an answer (e.g., short sales and nonjudicial foreclosures in deficiency states). The Author believes that when recourse debt is converted to nonrecourse debt by operation of a discharge in bankruptcy, there should be a discharge of indebtedness event, and thereafter, the nonrecourse rules would apply, albeit with the nonrecourse debt reduced by the amount of the debt discharged. As a result, after discharge, the nonrecourse debt would be reduced to the fair market value of the collateral. Upon a subsequent sale, the amount realized by the debtor would be the fair market value of the property (or the new taxvalue of the debt if the property declines in value). The current rule, with the amount realized equaling the old face value of the debt, would no longer apply. This change would put an end to the punitive gains resulting from the current nonrecourse-sale rules. Unfortunately, this proposal is probably not administratively feasible.

I. INTRODUCTION In today's culture of living life on credit, post-secondary education loans have become the most popular method for American students to pay for their college degrees. Further, "[t]he [...]

"[T]here's a new hot concept in the land of personal finance: personal corporatehood, the notion that people can act like corporations.... [I]t's easy to see something suspect about the idea [...]

I INTRODUCTION Section 44 of the Australian Constitution ('Constitution') is now probably the best known of the constitutional provisions. It appears today as it did when enacted: Disqualification Any person [...]

I. INTRODUCTION Since the origin of the modern Bankruptcy Code, (1) when federal student loans were dischargeable in bankruptcy, it has become increasingly more difficult to discharge those loans in [...]

I. Introduction On Monday, October 4, 2010, reporters and other observers packed the red upholstered benches and filled the white marble courtroom of the United States Supreme Court. (1) They [...]