Crypto settles property with code. Law legitimates ownership. The politics of crypto reside in a preference for bearer instruments since they are more efficient to automate around.

How law records property ownership can conflict with crypto, especially where legal remedies call for distributions that contradict the code. The first paragraph in the Bitcoin whitepaper notes that this technology is a solution for disputes, preferring immutability for network effects.

Crypto therefore is extralegal or asserting its own jurisdiction, especially where value is attributed to transactions. Crypto Law ends up in the interesting position of being a way to apply existing legal systems to crypto transactions, while also interacting with a parallel system that has untested sovereignty.