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.
| Mualliflar | Nazarov, Azizjon |
|---|---|
| Jurnal | The Uzbek Journal of Law and Digital Policy (UJLDP) |
| Nashr sanasi | 2024-10-30 |
| Jild | 2 |
| Son | 5 |
| Betlar | 11-19 |
| Til | Ingliz |
| DOI | 10.59022/ujldp.223 |
DOI: 10.59022/ujldp.223 · Maqolaning asl sahifasi
Cryptocurrency Exchanges, Smart Contracts, Blockchain, Liability, Dispute Resolution, Decentralized Finance (DeFi), Contract Law, Regulatory Compliance
This paper examines methods for extracting and analyzing metadata for evidentiary purposes in civil proceedings. Through a comprehensive review of current literature, legal cases, and forensic techniques, it explores…
This study examines the intricate legal landscape surrounding intellectual property (IP) protection in web development, focusing on contractual obligations and liability issues among involved parties. The research…
This article explores the legal nature of digital financial assets (DFAs) within civil rights. DFAs, including cryptocurrencies and tokens, challenge traditional legal concepts due to their decentralized and intangible…
This paper argues for integrating dedicated cybersecurity courses and programs within school and higher education curricula to drive mass cyber-socialization and develop responsible digital citizenship among youth…
This research examines the complex process of transferring European green economy legislation into Uzbekistan's legal system, focusing particularly on investment incentive mechanisms and state policy frameworks. The…
Information security risks threaten the integrity of notarial services in an increasingly digital era. This study analyzes the legal frameworks governing notarial cyber risk management in the United States and…
This article provides a theoretical analysis of state control and inspection in relation to compliance with employees' labor rights. The aim is to examine the specific characteristics of state control mechanisms under…
Financial technology (FinTech) is disrupting microfinance services for low-income groups. However, existing regulations remain anchored to traditional in-person models, lacking updated digital provisions. Doctrinal…
This research aims to explore the legal frameworks necessary for integrating AI-driven evidence in cybercrime prevention while ensuring the protection of privacy rights. The study examines AI's role in evidence…
Today, with the rapid development of modern technologies, there is an objective need for legal regulation of issues related to intellectual property on websites. However, current trends in the development of this branch…
The Uzbek Journal of Law and Digital Policy (UJLDP) — barcha maqolalar