Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union
The speed of the adoption and use of cryptocurrency that utilizes blockchain technology as its central infrastructure is expanding globally, including in Indonesia. It has promising prospects as a future asset and payment instrument. However, the regulations in Indonesia are often delayed and inadeq...
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| Format: | Article |
| Language: | English |
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Sebelas Maret University Faculty of Law
2023
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| Online Access: | https://repository.ugm.ac.id/284355/1/Andy%20Omara%20-%2067125-205602-2-PB.pdf |
| _version_ | 1797037840292380672 |
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| author | Tauda, G.A. Omara, A. Arnone, G. |
| author_facet | Tauda, G.A. Omara, A. Arnone, G. |
| author_sort | Tauda, G.A. |
| collection | UGM |
| description | The speed of the adoption and use of cryptocurrency that utilizes blockchain technology as its central infrastructure is expanding globally, including in Indonesia. It has promising prospects as a future asset and payment instrument. However, the regulations in Indonesia are often delayed and inadequate for dealing with cryptocurrency's developments. This research is intended to analyze the approaches, regulations, and protection of the use of cryptocurrency. This study argues that the regulatory approach to using cryptocurrency is balanced, while Indonesia has a partial status in cryptocurrency legality. The government's protection of cryptocurrency investors is adequate in using cryptocurrency as a commodity traded on futures exchanges with a license from Bappebti. A progressive policy for establishing the Digital Asset Law by the government is important due to the resultant clarity in the regulatory status of cryptocurrency will allow the ecosystem to grow and promote innovation, thus harnessing the benefits of cryptocurrency while mitigating related risks. |
| first_indexed | 2024-03-14T00:10:07Z |
| format | Article |
| id | oai:generic.eprints.org:284355 |
| institution | Universiti Gadjah Mada |
| language | English |
| last_indexed | 2024-03-14T00:10:07Z |
| publishDate | 2023 |
| publisher | Sebelas Maret University Faculty of Law |
| record_format | dspace |
| spelling | oai:generic.eprints.org:2843552023-12-18T02:28:51Z https://repository.ugm.ac.id/284355/ Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union Tauda, G.A. Omara, A. Arnone, G. Indonesian Law The speed of the adoption and use of cryptocurrency that utilizes blockchain technology as its central infrastructure is expanding globally, including in Indonesia. It has promising prospects as a future asset and payment instrument. However, the regulations in Indonesia are often delayed and inadequate for dealing with cryptocurrency's developments. This research is intended to analyze the approaches, regulations, and protection of the use of cryptocurrency. This study argues that the regulatory approach to using cryptocurrency is balanced, while Indonesia has a partial status in cryptocurrency legality. The government's protection of cryptocurrency investors is adequate in using cryptocurrency as a commodity traded on futures exchanges with a license from Bappebti. A progressive policy for establishing the Digital Asset Law by the government is important due to the resultant clarity in the regulatory status of cryptocurrency will allow the ecosystem to grow and promote innovation, thus harnessing the benefits of cryptocurrency while mitigating related risks. Sebelas Maret University Faculty of Law 2023 Article PeerReviewed application/pdf en https://repository.ugm.ac.id/284355/1/Andy%20Omara%20-%2067125-205602-2-PB.pdf Tauda, G.A. and Omara, A. and Arnone, G. (2023) Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union. Bestuur, 11 (1). pp. 1-25. https://jurnal.uns.ac.id/bestuur/article/view/67125 |
| spellingShingle | Indonesian Law Tauda, G.A. Omara, A. Arnone, G. Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union |
| title | Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union |
| title_full | Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union |
| title_fullStr | Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union |
| title_full_unstemmed | Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union |
| title_short | Cryptocurrency: Highlighting the Approach, Regulations, and Protection in Indonesia and European Union |
| title_sort | cryptocurrency highlighting the approach regulations and protection in indonesia and european union |
| topic | Indonesian Law |
| url | https://repository.ugm.ac.id/284355/1/Andy%20Omara%20-%2067125-205602-2-PB.pdf |
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