Legality of Cryptocurrency Asset Investments That Can Be Traded in Indonesia

Yazrul Anuar, S.H

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12 Sep 2024 · 07:57 12 September 2024 07:57 WIB 11 minutes reading time: 11 minutes 85 read

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This article discusses the legality of Cryptocurrency Assets that can be traded in the State of Indonesia

Legality of Cryptocurrency Asset Investments That Can Be Traded in Indonesia

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Table of Contents

Legality of Crypto Asset Investment
Crypto Assets That Can Be Traded In Indonesia
Conclusion

Judging from the investment potentials above, the State of Indonesia has created steps that encourage the climate of the investment world, including crypto assets.[6] The Ministry of Trade of the Republic of Indonesia has regulated crypto assets through Regulation Number 99 of 2018 concerning General Policies for the Implementation of Crypto Asset Futures Trading. Furthermore, in a coordination meeting as stated in the Coordinating Minister for Economic Affairs letter Number S-302/M.EKON/09/2018 dated September 24, 2018 regarding Follow-up to the Implementation of Coordination Meetings on Crypto Asset Regulation (Crypto Asset) as a Commodity Traded on the Futures Exchange.

The results of the meeting concluded that digital commodities or crypto commodities from the blockchain system can be categorized as rights or interests, so they fall into the commodity category in Law no. 10 of 2011 concerning Commodity Futures Trading. Article 1 number (2) states that a Commodity is all goods, services, rights and other interests and any derivative of a commodity that can be traded and is the subject of a futures contract, sharia derivative contract, and/or other derivative contract.

One of the advantages of crypto assets is fast transfers with very large investment profits.[7] The existence of crypto assets is a demand from the public who want easy and fast transactions without any intervention from third parties, whether government agencies or financial institutions. Apart from the benefits obtained when using crypto assets. There are several risks that follow because the crypto currency usage system is fluctuating which has an impact on the very high fluctuations in the price value of crypto assets.[8]

By using crypto as an investment asset, it is hoped that users will obtain legal legality that is more easily aligned to ensure national investment stability and its sustainability. Thus, based on the description above, the author is interested in knowing the legality of assets cryptocurrency (crypto) that can be traded which has recently become a trend in the world of investment in Indonesia.

[1] Yazrul Anuar, Raju Moh Hazmi and Jasman Nazar, “Tiktok Shop Vs E-Commerce Vs State: Finding a Balance Point in the Constitutional Economic Framework,” Law Jurnal: Jurnal Ilmiah Penelitian, 4.1 (2023), 2.

[2] Budi Raharjo, Future Money : Blockchain, Bitcoin, Cryptocurrencies (Yayasan Prima Agus Teknik, 2022).

[3] Nana Suryana & Laksmie Wulan Dhidan Akbar Syafdinan, “Legal Protection for Crypto Victims Linked to Law Number 8 of 1999 Concerning Consumer Protection,” Panorama Hukum, 8.2 (2023), 141.