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Legal Issues With Blockchain in Banking and Fintech: Implementing New Applications

Leveraging DLT Platforms for Recordkeeping, Payments, KYC, and More; Concerns With Regulation, Privacy, Adaptation

Recording of a 90-minute premium CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
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Conducted on Wednesday, May 24, 2023

Recorded event now available

or call 1-800-926-7926

This CLE course will provide finance and lending counsel with an examination of current and potential uses of blockchain in banking and fintech. The panel will discuss the advantages of distributed ledger technology (DLT) in cost-efficiency, cybersecurity, and fraud protection, as well as the legal and structural concerns in implementation.


DLT is widely considered to be a disruptive force in the banking and financial services industries. Through a decentralized, peer-to-peer networked database, transactions are verified, monitored, and enforced without a third-party intermediary, reducing costs and providing real-time information to network participants.

The best known use of blockchain is bitcoin, but banks and fintech companies are using DLT platforms for other purposes, including account records, trading and financial transactions, KYC protocols, and loan and payment processing.

DLT is inherently more secure and less susceptible to fraud than centralized platforms, but there are challenges to implementing DLT. Counsel will need an understanding of the technology as well as the legal ramifications of blockchain, including concerns with privacy, integration into existing systems, regulatory uncertainty, and scalability.

Listen as our authoritative panel discusses the potential applications of blockchain technology and its advantages over centralized platforms concerning authentication, data security, and cost-efficiency. The panel will also address the legal and logistical issues to consider in implementing DLT.



  1. DLT/blockchain/smart contracts explained
  2. Regulatory framework
    1. Federal
    2. State
    3. International
  3. Applications in banking and fintech
    1. Recordkeeping
    2. KYC (know your customer)
    3. Trading platforms
    4. Raising capital
    5. Bitcoin and other virtual currencies
    6. Payments/money transmission businesses
    7. Other
  4. Challenges to implementation


The panel will review these and other highly relevant issues:

  • What is a distributed ledger, and how does it change the way transactions and information are documented?
  • What are some of the current and proposed uses of blockchain in banking and fintech?
  • What are the advantages of DLT and blockchain as to data security, efficiency, and fraud protection?
  • What legal issues arise with DLT and blockchain that are not present with more conventional formats for transacting business?


Egan, Michael
Michael C. Egan


Mr. Egan advises clients across various industries, including global online businesses, pharmaceutical companies,...  |  Read More

Simmons, Rebecca
Rebecca J. Simmons

Sullivan & Cromwell

Ms. Simmons practices in the firm’s Financial Services and Capital Markets Groups, is head of its payments...  |  Read More

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