Published Paper Details:

Imagine a system where bank transfers between countries happen in seconds, not days, where contracts execute themselves, and every transaction is locked in a permanent, unchangeable record. This isn't science fiction--it's the promise of blockchain technology for banking. But this powerful new tool is crashing headfirst into our old-world legal systems, creating a messy but fascinating puzzle. On one hand, blockchain could be a game-changer. It cuts out expensive middlemen, makes fraud incredibly difficult, and allows for "smart contracts" that automate deals without lawyers or delays. For banks, this means massive savings, faster services, and stronger security .On the other hand, it raises huge legal questions. How do you apply old rules about customer privacy to a system where data, once written, can never be erased? Who's responsible when a self-executing smart contract has a bug and sends money to the wrong place? Regulators are scrambling to catch up, trying to figure out if digital tokens are property, currency, or something entirely new, as seen in big court cases like the SEC's battle with Ripple .This paper digs into that clash. We look at how banks are starting to use blockchain, the legal headaches it creates--especially around privacy laws like GDPR--and the slow, uncertain journey governments are on to build new rules. The bottom line? The technology is sprinting ahead, but our laws are still learning to walk. Finding the right balance between innovation and protection is the biggest challenge of all.