Decoding Blockchain Legal Issues — A Financial Law Perspective

21 Pages Posted: 16 Nov 2017

See all articles by Paul Oudin

Paul Oudin

Droit & Croissance (Rules for Growth); Vermeille & Co; University of Oxford, Faculty of Law

Date Written: November 9, 2017


This paper is intended to contribute to the debate on blockchain's financial regulation. First and foremost, it provides through the example of securities law an introductory overview of how American and French legal systems fail to properly handle the existing reality of blockchain. It subsequently identifies some of the peculiar issues that blockchain raises from a financial point of view and that justify a tailored legal regime. Finally, it examines the efforts made by blockchain's stakeholders to compensate the lack of regulation and discusses how those efforts may fall within a broader reform movement. For the sake of clarity, this last section will focus on the French example.

Keywords: Blockchain, Bitcoin, Ethereum, Financial Law, Finance, Distributed Ledger, Tokens, Initial Coin Offerings, Cryptocurrencies

JEL Classification: K, O

Suggested Citation

Oudin, Paul, Decoding Blockchain Legal Issues — A Financial Law Perspective (November 9, 2017). Available at SSRN: or

Paul Oudin (Contact Author)

Droit & Croissance (Rules for Growth) ( email )

c/o Institut Louis Bachelier
29 place de la Bourse
Paris, 75002

Vermeille & Co ( email )

7 rue Drouot
Paris, 75009

University of Oxford, Faculty of Law ( email )

United Kingdom

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