LEGALITY OF BITCOIN TRADING IN INDONESIA: BETWEEN DIGITAL INVESTMENT AND VIRTUAL GAMBLIN
Abstract
Bitcoin, as a digital crypto asset, is gaining popularity in Indonesia. Legally, it is recognized as a commodity by Bappebti (Commodity Futures Trading Regulatory Agency), but prohibited as a means of payment by Bank Indonesia. This regulatory discrepancy creates legal uncertainty and minimal protection for investors. Bitcoin trading is also viewed as speculative and prone to legal violations. The purpose of this study is to determine and analyze the legality, status, and legal protection for Bitcoin trading investors in Indonesia. This research is a normative legal research with a descriptive-analytical approach, using both legislative and case studies. The data used are secondary data in the form of primary, secondary, and tertiary legal materials, collected through literature and document studies, and analyzed qualitatively. The legality of Bitcoin trading in Indonesia remains unclear due to differing views between Bank Indonesia and Bappebti, creating legal uncertainty and necessitating comprehensive regulations for legal protection and certainty. The regulatory dualism between Bank Indonesia's prohibition and Bappebti's recognition creates legal disharmony, necessitating integrated regulations and legal literacy to support the protection and sustainability of digital investment. Legal protection for Bitcoin investors is crucial because the current legal framework is still limited. Clear regulations, strict oversight, and legal education are needed to address risks and create a safe crypto investment ecosystem.
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