Pembangunan Hukum Nasional Menghadapi Non-Fungible Tokens Dalam Revolusi Digital

Abstract

The purpose of this study is to analyze: first, the form and legal consequences that occur in Non-Fungible Tokens (NFT) transactions. Second, the role of legal development in dealing with NFT transactions in the era of the digital revolution. This is an empirical legal research as it examines NFT transactions that exist in the community with the approach to laws, legal principles, legal norms and existing legal theories. First, there are still obstacles in NFT transactions from a legal perspective, such as smart contracts executed in the blockchain system that have left several important elements of the agreement. Besides this, NFT itself has the potential to become a ground for cyber money laundering crimes because in blockchain technology it is possible to use anonymous and assets that are in the NFT have a high value as money laundering crimes that have taken place, money laundering often uses valuable assets. And the self-assessment tax reporting system allows individuals not to make tax payments. Second, the development of national law in dealing with NFT must prioritize efficiency as in the economic approach to Posner's law, in addition to the development of laws that create public order, laws that reflect values in society. It also requires the political will of the government in the law making process and law enforcement process in cyberspace, in order to present effective and efficient laws and regulations and law enforcement processes.