THE RISE OF FINTECH: LEGAL CHALLENGES AND OPPORTUNITITES CRYPTOCURRENCY, BLOCKCHAIN, AND SMART CONTRACTS: LEGAL DIMENSIONS
AUTHOR – NITHISH KUMAR B, STUDENT AT GOVERNMENT LAW COLLEGE TRICHY
BEST CITATION – NITHISH KUMAR B, THE RISE OF FINTECH: LEGAL CHALLENGES AND OPPORTUNITITES, CRYPTOCURRENCY, BLOCKCHAIN, AND SMART CONTRACTS: LEGAL DIMENSIONS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (1) OF 2026, PG. 90-94, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/MAOI7748
Abstract
The financial technology (FinTech) revolution, driven by Distributed Ledger Technology (DLT), presents a watershed moment for global commerce and law. At its core, DLT, encompassing cryptocurrency, blockchain, and smart contracts, challenges the foundational principles of traditional finance and legal jurisprudence: intermediation, jurisdiction, and contract enforceability. This paper analyzes the critical legal dimensions emerging from this technological shift, moving beyond an initial period of regulatory uncertainty toward a new era of targeted legislation and landmark litigation. Specifically, it examines the fragmented global regulatory response to crypto-assets (e.g., the EU’s MiCA and US legislative efforts), the legal complexity of classifying DLT assets, the disruptive potential and data privacy concerns of non-currency blockchain applications, and the profound jurisprudential conflict between the deterministic “code is law” ethos of smart contracts and the flexibility of common and civil law traditions. The paper concludes that DLT presents a significant legal opportunity to enhance transparency and efficiency, but only through the establishment of nuanced, principle-based regulatory frameworks that can reconcile decentralized technology with the imperative of financial stability, consumer protection, and equitable legal recourse.