Research Article
Legal Aspect of Cryptocurrency Transactions in Indonesia
@INPROCEEDINGS{10.4108/eai.16-4-2022.2320101, author={Eddy Herwani and Rineka Sara}, title={Legal Aspect of Cryptocurrency Transactions in Indonesia}, proceedings={Proceedings of the 2nd International Conference on Law, Social Science, Economics, and Education, ICLSSEE 2022, 16 April 2022, Semarang, Indonesia}, publisher={EAI}, proceedings_a={ICLSSEE}, year={2022}, month={8}, keywords={cryptocurrency; virtual money; payment instrument}, doi={10.4108/eai.16-4-2022.2320101} }- Eddy Herwani
Rineka Sara
Year: 2022
Legal Aspect of Cryptocurrency Transactions in Indonesia
ICLSSEE
EAI
DOI: 10.4108/eai.16-4-2022.2320101
Abstract
Cryptocurrency is a digital currency system where the user uses digital payments for business activities carried out that function as a standard currency. A statutory method as well as a conceptual approach were used in this study carried out in a normative juridical manner based on statutory regulations, one of which is CoFTRA Technical Provisions for Crypto Assets in the Physical Market ' Implementation (Regulation No. 5 of 2019) (Crypto Assets). The Indonesian government then developed a set of guidelines to suit the interests of crypto asset dealers, as well as providing general guidance and clarification for the general public on the government's recognition of bitcoin and virtual money, particularly through the use of the term "virtual currency." Minister of Trade of the Republic of Indonesia, No. 99 for the year 2019. Additional arrangements are regulated by the Agency Commodity Futures Trading Supervisor in CoFTRA rules No. 3 and CoFTRA No. 5 of 2019. The existence of a marketplace where bitcoin funds can be traded is certain by CoFTRA's guidelines first so that later it will minimize fraud committed by the cryptocurrency marketplace.