The increased adoption of blockchain technology will necessitate the creation of new laws. Issues will include deciding whether or not it is a currency and subject to AML regulations in the US to laws regarding pseudonymous transactions. Privacy laws, regulation of decentralisation, and the right to be forgotten will also have to be taken into account as the use of blockchain and distributed ledger technology expands. Arizona has passed legislation prohibiting the use of blockchain to track firearms, while Vermont has allowed records verified through blockchain technology to be admissible in court.
The increased adoption of blockchain technology will necessitate the creation of new laws. Issues will include deciding whether or not it is a currency and subject to Commodity Futures Trading Commission regulations in the US to laws regarding pseudonymous transactions. Privacy laws, regulation of decentralisation, and the right to be forgotten will also have to be taken into account as the use of blockchain and distributed ledger technology expands. Arizona has passed legislation prohibiting the use of blockchain to track firearms, while Vermont has allowed records verified through blockchain technology to be admissible in court.