The Blockchain technology deals with, and assures the security of assets and information over its network. However, if a breach occurs in some of its security features, and financial crimes such as fraud or tax evasion occurs, the law will have to be evoked to take its full course. Also, the Blockchain technology and the processes that accompany its implementation, exemplify a major deviation
... [Show full abstract] from the existing state of affairs in most financial activities, especially in the exchange of a legal tender for goods and services. Blockchain applications present contemporary methods of initiating and embarking on financial transactions in ways that do not conform to current legal structures. As such, having the judiciary decide on punitive measures for blockchain related financial crimes will require a meticulous assessment and revision of the rules guiding legal practice. It may be necessary for most countries to establish a nexus between certain scientific modules and ratification processes, so as to ensure that the modus operandi of blockchain applications agree with the law. This chapter seeks to provide a broad view of the relationship between blockchain and the Law, its effects on legal activities and how the Law can be used as a tool of protection in blockchain related transactions.