Abstract:
In September 2018 the authors released a report funded by the Law Foundation entitled “Regulation of Cryptocurrencies in New Zealand”. This article includes the report’s recommendations as well as background on the implications of cryptocurrencies and blockchain to society and the law. The article explains cryptocurrencies and smart contracts and how they are being used, including by governments. The application of blockchain to the law is discussed. The common criticisms of cryptocurrencies and blockchain are rebutted.