Crypto Law

Contextual Quote

"CryptoLaw’s (and crypto’s?) biggest failure thus far is the self-delusion that everyone’s a winner because everyone is free to write the rules of their own game, and, crucially, everyone is free to either play a given crypto game or not."

- Crypto Law Review [1]

Definition

Crypto Law Review:

"CryptoLaw: a cloud of legal norms, processes, institutions, and vocabularies for governing inter-crypto (Ethereum Foundation vis-a-vis OmiseGO, etc.), intra-crypto (ETC v. ETH), and all other legal relations concerning crypto instruments, institutions, and markets (public legislative/regulatory oversight of crypto; enterprise-crypto integration; intersection of private contract law with private so-called “smart contract” #CodeIsLaw; etc.)."

(https://medium.com/cryptolawreview/whats-your-cryptolaw-strategy-f5c24e3af4c4)

Characteristics

... of CryptoLaw strategies, by Crypto Law Review:

1.

"(1) Crypto never should have positioned Law as its enemy.

(2) By now, the “CryptoLaw Bar” should be should be smart enough to realize the futility and real costs of that approach.

(3) It’s not too late to adopt different CryptoLaw strategies with much higher probabilities of better outcomes than the current adversarial model of engagement with Law."

2.

"Everyone should see remarkable ideological and functional parallels between Capitalist, Casino, and Crypto approaches to rules:

(1) Transparency/Open Law: everyone can inspect & learn the rules, even though few do (due to, say, information overload from open access to so many rules);

(2) Equality of Opportunity: rules are set so that everyone can win, even though few do;

(3) Clarity: ambiguity is bad; clarity is good. Who decides? The “rules” — ! And if the rules are ambiguous? See #5.

(4) Immutability: rules are rules; contracts must be enforced; pacta sunt servanda;

(5) Expertise: if changes to #1 — #4 need to be made, trust the experts & rule technicians to do their thing — you just do you, stay focused on winning.

(https://medium.com/cryptolawreview/whats-your-cryptolaw-strategy-f5c24e3af4c4)