Dini Turipanam Alamanda, Yusuf Murtadlo Hidayat, Ikin Solikin, Budi Purnomo
Fenomena cryptocurrency sedang populer didunia termasuk di Indonesia. Meskipun Majelis Ulama Indonesia (MUI) dan Bank Indonesia telah menyampaikan sikapnya, namun nyatanya masyrakat masih mempertanyakan hukum cryptocurrency. Opini pemuka agama populer di Indonesia dianggap mampu memberikan pemahaman, namun kenyataan tidak semua pemuka agama mempunyai pandangan yang sama. Tujuan penelitian ini adalah untuk mengeksplorasi opini para pemuka agama populer di Indonesia mengenai hukum cryptocurrency. YouTube digunakan sebagai media untuk mencari sumber opini dari pemuka agama terpilih. Data selanjutnya dianalisis menggunakan opinion mining dan selanjutnya dipetakan polarisasinya. Hasil menunjukkan bahwa dari sejumlah pemuka agama populer, tidak semua mempunyai jejak digital di YouTube yang membahas mengenai cryptocurrency ataupun bitcoin. Secara umum, pemuka agama yang pernah membahas mengenai cryptocurrency terbagi dua, ada yang membolehkan dengan syarat tertentu dan ada yang mengharamkan secara tegas. Implikasi penelitian ini dapat digunakan sebagai bahan pertimbangan pemangku kebijakan dalam menyikapi posisi cryptocurrency ditengah-tengah penganut agama Islam terbesar di dunia
Lately, cryptocurrency investors and transactions in Indonesia are thriving, the number of crypto asset investors as of the end of February 2021 has reached 4.2 million people, which exceeds the number of stock investors in Indonesia. This study aims to determine specifically cryptocurrency as an investment in commodity futures trading in Indonesia using the MaqÄsÌ£id al-Sharī’ah approach. This research uses a qualitative approach. The data collection technique used is literature study by collecting data from previous studies in the form of documentation of articles, journals, or books as well as publication data from other parties. The data analysis techniques used were data reduction, data presentation, and concluding, from the collected data analyzed through SWOT analysis (strengths, weaknesses, opportunities, and threats) then continued using the MaqÄsÌ£id al-Sharī’ah approach (MasÌ£lahÌ£ah and Mafsadah). The results show that cryptocurrency technology with blockchain can indeed be recognized as an excellent revolutionary technology, but the position of cryptocurrency as an investment in commodity futures trading contains an element of gambling because it contains high speculation and is gambling by taking advantage of the level of volatility. In addition, cryptocurrencies are prone to be used by illegal practices such as money laundering, so that when compared to MasÌ£lahÌ£ah and Mafsadah it contains greater Mafsadah.

 This study investigates the application and recognition of accounting policies for ownership of Cryptocurrency assets by companies in Indonesia based on Financial Accounting Standards. This study uses a qualitative method with a scoping review approach to map the literature related to the concept of cryptocurrency and accounting arrangements for cryptocurrency ownership by companies. The scoping review carried out several stages, namely problem identification, identifying literature sources, literature selection, mapping and collecting literature, and discussion analysis. This study concludes that ownership of cryptocurrency by companies can be classified as assets based on IFRS and PSAK. The most relevant type of asset classification for Cryptocurrencies is inventory or intangible assets, depending on the purpose of ownership of the company. This research indicates that with the significant increase in the use of cryptocurrencies, standard-setting bodies need to set clear and specific accounting standards to help reduce uncertainty and provide relevant and useful guidance to both preparers and users of financial statements.
Purpose: Currently, many fake certificates or diplomas are used to apply for jobs to get a better paying job. With that said, currently certificates cannot prove a person's expertise or skills. However, some students have implemented a Blockchain system in securing their certificates so that data manipulation is minimized, but only partially. Therefore, this research aims to motivate anyone, especially students in this Blockchain system and students will get incentives from all activities that are followed by racing in Blockchain gamification concept 4.0. Study design: This study uses the Pieces method to classify a problem (problem), opportunities (opportunities), and existing directions. Data collection techniques used primary data obtained by distributing questionnaires in the form of google form to respondents by involving students (n = 1129). Conclusions were analyzed with the SUS trial using a Likert scale with the cut and SUS method. Result: The results of this study are expected to Gamification in the system Blockchain can run optimally in implementation. The use of Gamification on the Alphabet Blockchain is included in the acceptable category. Value: The platform can check certificates that are not genuine.
This research aims to identify and analyze the potential of blockchain technology for the accounting field in Indonesia. This research was conducted at the Indonesian Blockchain Association. This research uses qualitative methods with the case study approach and analysis of making explanation strategies. The result of this study indicates that blockchain is applicable in Indonesia without having to use cryptocurrency as a payment tool. The result finds that blockchain can be used as a technology for Accounting Information System. One of the reasons is that all accounting transactions have the potential to be traceable with the blockchain. The data in this technology can be considered as relevant information due to the nature of blockchain as a technology that records and stores data that cannot be changed and manipulated. Blockchain will be used as a database and data procession will still be carried out by using the Accounting Information System. Blockchain is unable to automatically process data into information that may be needed in accounting. This research is expected to strengthen the theory related to blockchain as one of the accounting technologies, also to be an initial step in improving the concept of triple-entry accounting that is usable in Indonesia by using Blockchain which is supported by other platforms such as ERP and uses Token as the representative of assets or financial in recording transactions.
The purpose of this study is to analyze cryptocurrencies based on the characteristics of money, legal perspective, economic perspective and sharia perspective. In this study, the methodology used is descriptive with a qualitative approach. The results show that in this case cryptocurrency can be accepted as money (from the perspective of money characteristics), cryptocurrency does not meet the criteria as a currency (currency perspective), cryptocurrency does not fully fulfill the function of currency (economic perspective), cryptocurrency is not a legal currency in Indonesia. (legal perspective) and the existence of two scholars' opinions (accept and prohibit) regarding cryptocurrency (sharia perspective)
Cryptocurrency is a digital or virtual currency, which does not have a physical form like fiat money. This crypto currency can only be used through devices such as PCs, laptops, smartphones and other devices that connected to the internet. There are several advantages in a crypto system that uses blockchain system, such as transaction security, convenience, speed and can be used across countries and continents, however cryptocurrency which is currently circulating also still have weaknesses, including there is no supervisory authority, even many countries have disagreements over the legality of this cryptocurrency. The debate about pro and contra regarding to the use of cryptocurrency becomes dynamics among the experts including the scholars who have study from Islamic point of view. This reseach aims to examine the dynamics of using cryptocurrency from ushul fiqh point of view, where the methods which used in this research are al-qur’an, al-Hadits, Qiyas and Sad-Adzariyah. Basically the use of cryptocurrency is allowed to meet cetain conditions that is by removing batil elements as in Quran surah An-Nisa verse 29, those batil elements are gharar and mayshir. Moreover, cryptocurrency must also has clear legality in a country for security in their use.
MSMEs in Indonesia are expected to be able to face competition in the era of industrial revolution 4.0. However, there are many problems and obstacles in competitiveness, especially facing global competition, including access to capital, access to information and technology, access to organization and management, and access to business networks and partnerships. Besides, it is often difficult for them to get additional capital through banks or other lenders to increase their business scale. Moreover, a lack of financial and digital literacy causes the low validity of MSMEs' data to lenders. The adoption of blockchain technology is one of the considerations to minimize these MSMEs problems. Meanwhile, this technology is still relatively new to be applied to MSMEs but positively impacts the future. This study aims to measure and analyze MSMEs' readiness in using blockchain technology on a business scale with the TRAM model. This model integrates the Technology Readiness Index (TRI) and Technology Acceptance Model (TAM) models. This study aims to test several variables, including TRI, perceive ease of use, perceive ease of usefulness, attitude toward, and intense use of blockchain technology. Data processing uses the partial least square path modelling (PLS-PM) method. The results showed that TRI was significant on perceived ease of usefulness and perceived ease of usefulness. Then, perceive ease of use is significant towards perceive ease of usefulness and intention to use. Besides, perceive ease of usefulness is significant for attitude. The attitude toward variable is significant for the intention to use in the acceptance of blockchain technology.
Cryptocurrency is a form of digital storage that uses cryptographic techniques or secret passwords. This cryptocurrency is not controlled by an institution such as a bank, country or certain company but uses a decentralized server and cryptocurrency uses a system that cannot be controlled by anyone because it uses a network that can document transactions directly, without any third party. This review expects to get a thought meaning of Cryptocurrency and how the assessment of the researchers on it depends on sharia and Islamic law. This examination is a writing study. The information wellsprings of this examination were taken from the Qur'an, the hadith of the Prophet, traditional and contemporary books, the assessments of researchers just as from online media sources. From this exploration, it was discovered that Cryptocurrency or the utilization of virtual money can without a doubt be perceived as a brilliant progressive innovation, but its use as an investment instrument contains elements of maysir (betting) and as a business transaction instrument that contains elements of gharar, it contains tyranny and that including transactions that are prohibited in Islam.Keywords : Enterpreneurship, Cryptocurrency and Islamic Law.
?Cryptocurrency is a blockchain-based technology that is often used as a digital currency. Digital money is different from conventional money, this type of money does not have a physical form but only a block of data bound by a hash as validation. The data is spread to every cryptocurrency user who is in the environment. So that when a user makes a transaction, data mining will be carried out. Cryptocurrencies have several advantages but also have disadvantages when used as currency, from a legal point of view there is still no law governing the circulation of currency in digital form (cryptocurrency). The government must recognize digital currency so that it can be accepted by the general public as a means of payment. For now, the government has not recognized digital money (cryptocurrency) as a currency, because Cryptocurrency is a new phenomenon by some people in Indonesia. The rapid development of technology in the 4.0 revolution era, in the next few years money in physical form will be replaced by digital money seeing the many conveniences provided by using digital money.
Law Number 22 of 1999 on Local Government has changed the system of government in Indonesia to become decentralized, including those related to finance. The purpose of this study is to see the trend of financial independence in the districts/cities in West Papua Province. The measure used to assess this is the ratio of regional financial effectiveness and the degree of fiscal independence. The data used is sourced from the Directorate General of Fiscal Balance, Ministry of Finance of the Republic of Indonesia period 2010 – 2019. The results of the analysis show that the financial effectiveness ratio of districts/cities in West Papua Province has been very effective. However, the degree of fiscal independence shows the opposite condition, where all districts/cities in West Papua Province are still in “belum mandiri” category.
Umi Marfuah, Yandra Arkeman, a Machfud, Indah Yuliasih
Indonesians are the worlds largest chilli enthusiasts, mostly consuming fresh chilli. Because of chilli products generally perishable characteristics, its price has become unstable.The growing number of agricultural safety and risk issues has revealed a substantial need for an effective traceability solution, which serves as an essential agricultural supply chain method to ensure adequate product safety. Blockchain is the technology that disrupts goods in supply chains of agriculture and offers a revolutionary solution for their traceability. Today, farm supply chains are a dynamic ecosystem with multiple stakeholders, making it difficult to verify a range of main parameters, including the country of origin, stage in crop production, quality compliance, and yield monitoring. This paper suggests using the Ethereum blockchain and intelligent contracts to monitor and traceability operations across the agricultural supply chain effectively. Our proposed solutions remove the need for trustworthy centralized subjects, intermediaries, transaction records, performance, and security enhancements that are highly integral, accurate, and stable. The approach suggested focuses on using intelligent agreements to monitor and manage all communications and transactions between all actors in the supply chains ecosystem. All transactions are registered in the immutable blockchain lead with connections to a decentralized system (IPFS), ensuring the ecosystem is safe, confident, reliable and booming for everyones high degree of transparency and traceability.
This study aims to determine and understand whether bitcoin can be categorized as a means of payment exchange in Indonesia and how the legality of positive Indonesian law in regulating bitcoin issues. The research method used is a normative research method. The approach method used in this research is the statutory approach and the conceptual approach. Bitcoin clearly does not meet the requirements of money in theory and the Currency Act only recognizes the rupiah as a legal medium of exchange, and under the Currency Act, bitcoin cannot be said to be money. Apart from not being able to be said to be bitcoin money, it can also not be said to be electronic money. Law No. 7 of 2011 concerning Currency, it is stated that Indonesia only recognizes Rupiah as a legal medium of exchange for Bitcoin and Other Virtual Currency” which basically states that bitcoin and other virtual currencies are not legal tender in Indonesia, so the risk associated with the use of bitcoin is borne by the owner. or the bitcoin user concerned. This study aims to determine and understand whether bitcoin can be categorized as a means of payment exchange in Indonesia and how the legality of positive Indonesian law in regulating bitcoin issues. The research method used is a normative research method. The approach method used in this research is the statutory approach and the conceptual approach. Bitcoin clearly does not meet the requirements of money in theory and the Currency Act only recognizes the rupiah as a legal medium of exchange, and under the Currency Act, bitcoin cannot be said to be money. Apart from not being able to be said to be bitcoin money, it can also not be said to be electronic money. Law No. 7 of 2011 concerning Currency, it is stated that Indonesia only recognizes Rupiah as a legal medium of exchange for Bitcoin and Other Virtual Currency” which basically states that bitcoin and other virtual currencies are not legal tender in Indonesia, so the risk associated with the use of bitcoin is borne by the owner. or the bitcoin user concerned.
Disintermediation of the travel industry in the modern area has the most powerful and successful innovation, obviously with the assistance of Blockchain innovation. The market structure has changed since the appearance of online travel planners. Determined to improve the system for the travel industry that as of now depends on this blockchain innovation, for which the reason for this paper was made, a subjective strategy with semi-organized meetings appears to be appropriate to decide the ideal use to draw out the fundamental capability of this blockchain innovation for the business. the travel industry as per specialists. From the consequences of meetings led just as from the aftereffects of considering the impact of blockchain on business, it tends to be inferred that blockchain innovation is a fitting new advance as far as restricting and forbidding new go betweens in the entrance of the travel industry, subsequently it will prompt the vanishing of go-betweens from the travel industry market and an increment in the framework straightforward that everybody knows.
The increasingly widespread development of the digital era has led to changes in the payment system which then affects the economic behavior of the community in line with the increase in various services that facilitate economic activity. An example is the emergence of crypto currency or Cryptocurrency as a digital currency that has almost the same function as other currencies. The thing that distinguishes this digital currency from conventional currencies in general is that it does not have a physical form of money like currency currency but only a block of data bound by a hash as validation. Although it provides a number of advantages for its users, the existence of cryptocurrencies in Indonesia itself is still experiencing pros and cons in terms of regulation and legality, especially from the point of view of Islamic law for its use. Therefore, this study was conducted to review cryptocurrencies that are widely used in transactions, especially investments from the perspective of Islamic law. This research is a qualitative library research. The data analysis technique used is descriptive-analytical with a normative juridical approach to Islamic law. Based on a number of references used in this study, it is known that investing with cryptocurrencies has a very high risk because its value can go up or down drastically and unpredictable. Meanwhile, from the point of view of Islamic sharia law, the law of this cryptocurrency transaction is haram lighairihi.
The cryptocurrency market is a market that attracts researchers and investors because it is open every day. This can be seen by the anomalies that occur in the cryptocurrency market. This research uses cryptocurrencies with the largest market cap in 2020, namely Bitcoin, Ethereum, Tether, XRP, and Bitcoin cash as research objects. The data in this study uses daily returns for testing the day of the week effect and daily volatility on the cryptocurrencies under study. This study uses GARCH (1,1) to determine the day of the week effect and daily volatility in the cryptocurrency under study. The results of this study indicate that there is a day of the week effect and daily volatility in the cryptocurrency under study, and it does not move freely. This causes the cryptocurrency market to become an inefficient market. The patterns that occur can be exploited by investors as well as other research on the cryptocurrency under study. Investors can avoid days that have high volatility for example in Bitcoin which experiences high volatility on Fridays and Saturdays because it has a high risk as well. Investors are advised to be able to trade on Thursday for high returns and less risk.
Edward Guustaaf, Untung Rahardja, Qurotul Aini, Nesti Anggraini Santoso · 5 authors
Translator Translator Translator Translator Translator Translator Translator Translator Abstrak— Blockchain adalah buku besar yang secara bersamaan terdesentralisasi dan terdistribusikan. Terdapat Node yang berfungsi untuk mencatat semua histori transaksi di Blockchain dengan semua jaringan yang berbeda. Blockchain memiliki sifat kekal atau tidak dapat diubah, sehingga kemungkinan terjadi kecurangan dalam teknologi Blockchain sangat kecil. Hal ini tentu menjadi teknologi yang sangat praktis dan aman bagi dunia pendidikan dalam melakukan sertifikasi digital, pencatatan, dan lain sebagainya. Dengan adanya teknologi Blockchain diharapkan dapat menyelesaikan masalah yang sering terjadi di dunia pendidikan. Desain pendidikan berbasis Blockchain memiliki harapan besar dalam menurunkan tingkat kecurangan yang selalu terjadi di dunia pendidikan. Penelitian ini dilakukan dengan menggunakan metode komprehensif, di mana kami akan fokus mendalami desain pendidikan berbasis Blockchain, fitur-fitur Blockchain yang digunakan, dan layanan pendidikan berbasis Blockchain dalam meningkatkan implementasi teknologi Blockchain di dunia pendidikan. Abstract— Blockchain is a ledger that is simultaneously decentralized and distributed. There is a node that functions to record all transaction history on the Blockchain with all different networks. Blockchain is immutable or irreversible, so the possibility of fraud in Blockchain technology is very small. This is certainly a technology that is very practical and safe for the world of education in doing digital certification, recording, and so on. With Blockchain technology, it is hoped that it can solve problems that often occur in the world of education. Blockchain-based educational designs have great hopes of reducing the level of cheating that always occurs in the world of education. This research was conducted using a comprehensive method, in which we will focus on exploring Blockchain-based educational design, Blockchain features used, and Blockchain-based educational services in improving the implementation of Blockchain technology in the world of education.
Investasi pada zaman modern ini tidak hanya sebatas emas, saham, obligasi dan lain-lain. Seiring berkembangnya zaman muncul sejenis instrumen investasi baru yang bernama Cryptocurrency. Cryptocurrency adalah mata uang digital dengan sifatnya yang desentralisasi. Desentralisasi artiannya adalah metode pelaksanaan traksaksi tanpa adanya pihak ketiga sebagai perantara. Akan tetapi ada juga resiko akibat dari investasi jenis cryptocurrency ini, seperti terjadinya tindak money laundering (pencucian uang) dikarenakan sifat dari cryptocurrency ini yaitu desentralisasi sehingga jika terjadi transaksi yang mencurigakan sulit untuk dilakukan pembekuan ataupun pemblokiran akun dan uang. Yang lainnya adalah sistem pemajakan terhadap keuntungan dari Cryptocurrency ini masih kurang tegas sehingga terjadinya tindak tax avoidance (penghindaran pajak). Penelitian yang dilakukan adalah untuk mengkaji permasalahan terkait pencegahan money laundering (pencucian uang) dan juga tindak tax avoidance (penghindaran pajak). Adapun penelitian ini menerapakan metode penelitian hukum normatif. Berdasarkan penelitian yang dilakukan, didapatkan bahwa kasus money laundering (pencucian uang) didalam cryptocurrency ini terjadi karena fitur anominity dimana identitas aslinya tidak dapat dilacak dan dilindungi oleh sistem. Sehingga adanya celah untuk melakukan tindakan kejahatan seperti pencucian uang. Akan tetapi berdasarkan data yang dipaparkan kasus money laundering (pencucian uang) dalam cryptocurrrency sudah menurun dikarenakan adanya kerjasama antara platform/exchanger dengan PPATK untuk meminimalisir terjadinya kasus tersebut, dan juga praktik tax avoidance (penghindaran pajak) terjadi karena masih adanya ketidakjelasan sistem pemajakan terhadap cryptocurrency. Dapat disimpulkan bahwa pelaporan pajak atas keuntungan cryptocurrency wahib dilaporkan dan tidak susah untuk prosedurnya. Diharapkan adanya kesadaran dari investor untuk melaporkannya sendiri karena sifat pemajakan di Indonesia bersifat self assesment.
The application of blockchain innovation in E-commerce has a benefit. Add a space be the need for closeness sense in carrying out the transaction process in a security framework is required to preserve the privacy of information. One of the technological marvels is a Blockchain. The application of Blockchain innovation is to supply security for certificate security within the computerized period 4.0 so as not to control by unreliable parties. By utilizing the strategy of issue detailing, inquire about the plan, information, information preparing & introduction, examination & research reports and investigate strategies seven writing ponders. The application of blockchain innovation in an E-commerce service may be a need for closeness sense in carrying out the exchange handle a security framework is required to preserve information secrecy. Numerous things are valuable in Blockchain innovation, counting observing monetary resources, wellbeing records, character, and planning the supply chain. However, many proposals lack criticism and have static thinking. So that it fails to get the main benefits of the blockchain.
Margaretha S. N. Mait, Marthinus Mandagi, Abdul Rahman Dilapanga
Since regional autonomy in 2004, it has brought major changes in government administration in Indonesia. The decentralization policy has changed—the system of governance shift from previously centralized to decentralized. Tomohon City is one of the autonomous regions where the government strives to provide maximum service to the community, especially developing development. The purpose of this article is to discuss the role of the government's internal supervisory apparatus in preventing fraud in the management of village funds. This study uses a qualitative approach—data collection techniques using interviews, observation, and documentation. The data analysis technique uses the stages of data reduction, data presentation, and verification. The results showed that the role of the Tomohon City Inspectorate was as Fraud Prevention in the Management of Village Funds, (1) Quality Assurance. The role of the Tomohon City Inspectorate in quality assurance (performed through an audit, monitoring, review, evaluation, and other supervisory activities. (2) Providing advice. The role of the government's internal supervisory apparatus is to provide an objective and independent assessment of the feasibility of the governance structure and the effectiveness of government organizations/agencies. (3) Providing early warning that is early detection of problems that occur in each agency before other parties find out. They are required to provide solutions and formulate anticipatory steps so that problems that occur do not occur.
AbstractLegalization of cryptocurrency transactions in Indonesia is a breath of fresh air for the community. The increase in cryptocurrency investors every year shows that there are promising benefits from the transaction process. Even though Indonesia's economic condition is currently experiencing a recession, it has no impact on the sustainability of cryptocurrency transactions. So it can be said that this transaction can be an opportunity for tax revenue. However, it is unfortunate that there are no specific tax rules that regulate the collection of income tax on profits derived from cryptocurrency transactions in Indonesia. Based on these problems, the purpose of this study is to analyze the income tax collection system and law enforcement of income tax payments for cryptocurrency transactions in Indonesia. And the research method used is normative law by conducting extensive interpretation to find law (rechtsvinding). Keywords: Cryptocurrency; Income Tax; Tax Law Enforcement.AbstrakDilegalkannya transaksi cryptocurrency di Indonesia merupakan angin segar bagi masyarakat. Bertambahnya investor cryptocurrency pada setiap tahunnya menandakan bahwa terdapat suatu keuntungan yang menjanjikan dari proses transaksi tersebut. Meskipun kondisi perekonomian Indonesia yang sedang resesi saat ini, ternyata sama sekali tidak membawa pengaruh terhadap keberlangsungan transaksi cryptocurrency. Sehingga dapat dikatakan bahwa adanya transaksi tersebut bisa menjadi suatu peluang penerimaan perpajakan. Namun disayangkan belum tersedianya aturan pajak yang khusus untuk mengatur pemungutan Pajak Penghasilan atas keuntungan yang diperoleh dari transaksi cryptocurrency di Indonesia. Sehingga pemerintah belum bisa secara optimal mengontrol penerimaan pajak dari transaksi cryptocurrency di Indonesia. Berdasarkan permasalahan tersebut tujuan dari penelitian ini adalah untuk menganalisis sistem pemungutan Pajak Penghasilan serta penegakan hukum pembayaran Pajak Penghasilan atas transaksi cryptocurrency di Indonesia. Dan metode penelitian yang digunakan adalah hukum normatif dengan interpretasi ekstensif guna menemukan suatu hukum (rechtsvinding).Kata Kunci: Cryptocurrency; Pajak Penghasilan; Penegakan Hukum Pajak.
I Gede Hendrawan Saputra, I Dewa Putu Surya Wardana

 
 
 
 The current technological development is so fast, including in the world of economy. Technological developments in this economic aspect can be seen from the types of payment systems that are so developed. In this era of globalization, Bitcoin appears which can be used as a means of payment. Bitcoin is a new currency or electronic money created in 2009 by a person who uses the alias Satoshi Nakamoto. Bitcoin is mainly used in internet transactions without using intermediaries or not using bank services. In Indonesia, there is no regulation on Bitcoin itself. The absence of laws governing Bitcoin in Indonesia causes unclear legal consequences related to transactions using Bitcoin. The use of Bitcoin is commonly applied in Indonesia, but regulations regarding the currency used in Indonesia as a legal means of payment have been regulated in Law Number 7 of 2011 concerning Currency, which is only the rupiah currency that can be used, which raises questions about legality. bitcoin and the legal consequences of Bitcoin transactions as a means of payment in Indonesia. This will cause various legal problems, one of which is related to the aspect of legal protection for consumers who use bitcoin payments in the event of a loss when making payments through the bitcoin system. With the absence of specific regulations governing bitcoin payments, it can be said that this system is not certain to be safe to use because there is no legal certainty that regulates it
 
 
 
Jufridar Jufridar, Rico Nur Ilham, Mangasi Sinurat
Cryptocurrency or virtual currency is a form of investment that has developed since 2010. Today, there are more than 2,000 types of crypto currencies worldwide. Cryptocurrency research in Indonesia is still focused on the legal status and legal status of cryptocurrency investments. This quantitative descriptive study aims to describe the returns and risks of investing in crypto currencies. Descriptive analysis by calculating risk measures and using the heteroscedastic model GARCH (1,1) was carried out on the return data of 15 crypto currencies that had the greatest value. Information was obtained that investing in most crypto currencies resulted in higher returns than investing in foreign currencies or the stock market. On the other hand, Crypto currencies have a higher risk of loss and volatility clustering or heteroscedasticity. Further research is needed to uncover the characteristics of Crypto currency returns and their performance in the form of a portfolio.
The Indonesian market cannot be separated from the elements of information technology. The development of information technology will be closely related to the investment sector, especially finance. Cryptocurrency or digital currency is the result of the development of financial technology. Digital currencies are starting to be widely used as a means of payment via the internet. This currency was created with the aim of making payments easier and safer. The use of Blockchain technology causes transaction costs to be cheaper. Government policy through Bank Indonesia prohibits transactions using Cryptocurrency because it has a negative impact on the financial system, monetary stability and payment system in Indonesia. This research provides an understanding of Cryptocurrency to the Indonesian market. In the technology offered, cryptocurrency is a development of financial technology that allows it to replace banknotes in future financial transactions. In the future, the hope is that the government will study cryptocurrency technology more deeply so that the policies issued do not prohibit and at the same time protect the Indonesian market.
Keyword : Cryptocurrency, Indonesian Market, Education Facilities