The Regulation of Cryptocurrency Investation in Indonesia

DOI

10.2991/icglow-19.2019.54How to use a DOI?

Keywords

Cryptocurrency , Investation , Indonesia

Abstract

In the era of the industrial revolution 4.0, besides fiat currency virtual currency were circulating globally which began to be used as commodity tools. Indonesian monetary policy has not granted permission to use medium of exchange other than fiat currency which has been approved in trade and payments, are no exception cryptocurrency. Different with the domestic market, cryptocurrency has been widely invested by investors. The Cryptocurrency has been rapidly developed and has become preferred medium of exchange among investors, due to its advantages which are not appeared in fiat currenciy. Because of the universal nature of cryptocurrency, it must have a backup of guarantees and a legal basis to protect customers and regulations related to the circulation and supervision. This research will trace how national and international legal instruments govern and control cryptocurrency transactions on the Futures Exchange. The research method is normative, the problem raised is focused on applying the rules or norms in positive law, using the statute approach and conceptual approach, with the legal material used is the primary and secondary legal material. The data collection technique used is literature study. The analysis technique used is the deductive method. The result of this study is Cryptocurrency can be invested as a commodity subject in the Futures Trading Exchange by using a permissible cryptocurrency technology called distributed ledgers technology, which is a decentralized system to maintain the integrity of the ledger in accordance with the protocol. While the prefer type of cryptocurrency is a cryptocurrency utility that has a speculative value in accordance with supply and demand than a security crypto.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Soehartono
AU  - U. Khaerah Pati
PY  - 2019/10
DA  - 2019/10
TI  - The Regulation of Cryptocurrency Investation in Indonesia
BT  - Proceedings of the 3rd International Conference on Globalization of Law and Local Wisdom (ICGLOW 2019)
PB  - Atlantis Press
SP  - 209
EP  - 212
SN  - 2352-5398
UR  - https://doi.org/10.2991/icglow-19.2019.54
DO  - 10.2991/icglow-19.2019.54
ID  - 2019/10
ER  -