Liability Mechanisms and Dispute Resolution in Crypto Exchange Contracts: Balancing Code-Based Execution and Legal Enforceability

Nazarov, Azizjon

The Uzbek Journal of Law and Digital Policy (UJLDP) · 2024-yil

Annotatsiya

This paper examines the tension between code-based execution and legal enforceability in smart contracts used by cryptocurrency exchanges. As decentralized finance grows in prominence, there is an increasing need to balance the immutability and automation of blockchain-based agreements with traditional legal protections and dispute resolution mechanisms. We analyze current approaches to liability allocation and conflict resolution in major crypto exchanges, identifying key challenges in harmonizing algorithmic governance with existing contract law. Case studies of recent exchange hacks and failures are used to illustrate the limitations of purely code-based systems. We then propose a hybrid model that preserves the efficiency of automated execution while incorporating safeguards for human intervention in exceptional circumstances. This framework aims to enhance user protections, regulatory compliance, and overall trust in decentralized financial infrastructure. Our findings have implications for exchange operators, regulators, and contract law as it evolves to address blockchain-enabled agreements.

Maqola ma’lumotlari
MualliflarNazarov, Azizjon
JurnalThe Uzbek Journal of Law and Digital Policy (UJLDP)
NashriyotТошкент давлат юридик университети
Nashr sanasi2024-10-30
Jild2
Son5
Betlar11-19
TilIngliz
Ilmiy sohaYuridik
DOI10.59022/ujldp.223
Indeksga qo‘shilgan2026-08-26

DOI: 10.59022/ujldp.223 · Maqolaning asl sahifasi

Kalit so‘zlar

Cryptocurrency Exchanges, Smart Contracts, Blockchain, Liability, Dispute Resolution, Decentralized Finance (DeFi), Contract Law, Regulatory Compliance

Ilmiy soha

Yuridik

Iqtibos keltirish

APANazarov, Azizjon (2024). Liability Mechanisms and Dispute Resolution in Crypto Exchange Contracts: Balancing Code-Based Execution and Legal Enforceability. The Uzbek Journal of Law and Digital Policy (UJLDP), 2(5), 11-19. https://doi.org/10.59022/ujldp.223
GOST (OAK)Nazarov, Azizjon Liability Mechanisms and Dispute Resolution in Crypto Exchange Contracts: Balancing Code-Based Execution and Legal Enforceability // The Uzbek Journal of Law and Digital Policy (UJLDP). – 2024. – T. 2, № 5. – P. 11-19. – DOI: 10.59022/ujldp.223.
MLANazarov, Azizjon. “Liability Mechanisms and Dispute Resolution in Crypto Exchange Contracts: Balancing Code-Based Execution and Legal Enforceability.” The Uzbek Journal of Law and Digital Policy (UJLDP), 2(5), 11-19, 2024. https://doi.org/10.59022/ujldp.223
ChicagoNazarov, Azizjon. “Liability Mechanisms and Dispute Resolution in Crypto Exchange Contracts: Balancing Code-Based Execution and Legal Enforceability.” The Uzbek Journal of Law and Digital Policy (UJLDP), 2(5), 11-19 (2024). https://doi.org/10.59022/ujldp.223
HarvardNazarov, Azizjon (2024) ‘Liability Mechanisms and Dispute Resolution in Crypto Exchange Contracts: Balancing Code-Based Execution and Legal Enforceability’, The Uzbek Journal of Law and Digital Policy (UJLDP), 2(5), 11-19. https://doi.org/10.59022/ujldp.223
BibTeX
@article{nazarovazizjon2024,
  title = {Liability Mechanisms and Dispute Resolution in Crypto Exchange Contracts: Balancing Code-Based Execution and Legal Enforceability},
  author = {Nazarov, Azizjon},
  journal = {The Uzbek Journal of Law and Digital Policy (UJLDP)},
  year = {2024},
  volume = {2},
  number = {5},
  pages = {11-19},
  doi = {10.59022/ujldp.223},
  url = {https://doi.org/10.59022/ujldp.223}
}

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