The paper looks into the adoption and implementation of cryptocurrency and how it can be influenced by digital leadership. Understanding cryptocurrency awareness, acceptance, and adoption is crucial in today's evolving digital financial landscape. The paper emphasizes this while awareness plays a pivotal role in the acceptance and adoption of new technologies. Building on this foundational understanding, studies examining technology implementation have reaffirmed the positive. The use of cryptocurrencies offers attractive business opportunities in the context of financial services, smart contracts, and token-based business models. Strategies for cryptocurrency adoption in contemporary businesses include commitment to innovation as a relative advantage, cryptocurrency compatibility within the organization, overcoming the complexity of adoption, and control of corruption. The crypto industry saw a number of adoption milestones in 2023, from institutional interest to more nuanced regulations. The paper engages the use of Diffusion Innovative theory and Game theory as its theoretical framework, as well as the use of descriptive and content analysis. The paper then concludes on various ways on how digital leadership could aide adoption and implementation of cryptocurrency in the world today.
Open access
Organizational Leadership and Management Strategies
Lientang Wijaya, I Gede Wahyu Artha Kusuma, Umu Khouroh
In the context of significant growth in cryptocurrency in Indonesia, investment influencers on social media often provide information that affects investment behavior. Digital financial literacy becomes crucial in ensuring wise investment decisions, especially in understanding the risks and potential benefits of cryptocurrency. This research explores the role of influencers in cryptocurrency investments in Indonesia, with a focus on digital financial literacy as a mediating factor. Data were collected using a survey method with a sample of 100 respondents. Data analysis employed SEM-PLS. The study results indicate that influencers and digital financial literacy affect cryptocurrency investment decisions. Digital financial literacy acts as a mediator, not a moderator. These findings highlight the importance of comprehensive financial education in addressing this increasingly popular investment trend.
Mohamed M. Nofel, Mahmoud Marzouk, Hany Elbardan, Reda Saleh ¡ 5 authors
Over the last few decades, remarkable technical advancements, including artificial intelligence, machine learning, big data, blockchain, cloud computing, and the Internet of Things, have emerged. These tools have the ability to change the accounting process. This study aims to conduct a systematic literature review on using the Internet of Things (IoT), blockchain, and eXtensible Business Reporting Language (XBRL) in a single accounting information system (AIS) to enhance the quality of digital financial reports. This paper employs a systematic literature review (SLR) methodology, specifically, by adopting the widely accepted PRISMA technique. The final sample of this study included 309 related studies from 2013 to 2023. Our findings highlight the lack of literature related to the integration of these three types of technologies within a unified AIS. This study is extremely significant because it proposes a new research stream that explores the possibility of integrating IoT, blockchain, and XBRL in a single accounting system, yielding a plethora of benefits to the accounting field. However, the potential benefits of such an integration are evident, including enhanced transparency, real-time reporting capabilities, and improved data security. Our paperâs main contribution is that it is the first paper, to the best of our knowledge, to explore the integration of these three technologies. We also identified important gaps in the research and pointed out ways for future research to somehow take a lead in exploring further how this integrated system is affecting accounting practices.
This study aims to analyze the influence of content creators on cryptocurrency investment decisions in generation Z, with digital financial literacy as a mediating variable. The research used quantitative methods by distributing questionnaires and obtaining 111 research samples from gen-Z who are active on social media and have experience in cryptocurrency investment. The data was processed through path analysis test and sobel test. Based on the results of the study found that the role of content has a direct correlation with investment decisions, the role of content has a significant positive effect on digital financial literacy, digital financial literacy has a significant positive effect on crypto investment decisions, and the mediating variable of digital financial literacy can mediate the effect of the role of content creators on cryptocurrency investment decisions.Keyword: Role of Content Creator; Digital Financial Literacy; and Cryptocurrency Investment
This study aims to describe the overview of financial literacy, risk preferences, and investment decisions, as well as to analyze the influence of financial literacy and risk preferences on cryptocurrency investment decisions among millennials in Tangerang City. The research sample consisted of 95 respondents, selected using purposive sampling technique. Data was collected through a questionnaire with a Likert scale format. The collected data was then analyzed using Partial Least Square (PLS). The results indicate that financial literacy and risk preferences among cryptocurrency investors in Tangerang City are at a very high level. The high financial literacy and risk preferences positively contribute to cryptocurrency investment decisions. Hypothesis testing shows that both financial literacy and risk preferences have a positive and significant impact on cryptocurrency investment decisions. This study has implications for efforts to improve the rationality of cryptocurrency investment decisions to avoid undesirable losses, such as selecting cryptocurrencies with less volatile price fluctuations or diversifying portfolios by combining cryptocurrencies with conventional assets like stocks, bonds, or mutual funds.
This article delves into the transformative landscape of digital financing innovations and their impact on the financial performance of Small and Medium-sized Enterprises (SMEs) within the context of the digital economy era. Through a comprehensive exploration of literature and analysis of future trends, this study sheds light on the evolving dynamics of digital finance and its implications for SMEs. Key findings reveal a paradigm shift fueled by emerging technologies, including blockchain, artificial intelligence, and the Internet of Things. These technologies have ushered in a new era of financial inclusion, efficiency, and transparency, empowering SMEs with unprecedented access to affordable and tailored financial services. Furthermore, the research underscores the pivotal role of FinTech in driving innovation and disruption in the financial landscape. From integrated financial platforms to decentralized finance protocols, SMEs are presented with a myriad of digital solutions tailored to their unique needs, fostering resilience and competitiveness in an increasingly digitalized marketplace. Amidst these advancements, policymakers and regulatory authorities play a crucial role in shaping the digital finance ecosystem. Initiatives such as regulatory sandboxes and interoperable standards are essential to promote trust, stability, and consumer protection, ensuring that SMEs can fully harness the potential of digital financing to fuel economic growth and prosperity. In conclusion, this study highlights the immense promise of digital financing for SMEs in navigating the complexities of the digital economy era. By embracing digital innovation and fostering collaboration between stakeholders, SMEs can unlock new avenues for growth, enhance their competitiveness, and contribute to inclusive and sustainable economic development.
The aim of this research is to identify the factors that influence an individualâs financial behavior in the adoption of cryptocurrency. This research is a quantitative study, and the respondents were selected through purposive sampling, of which the following criteria were applied; 1) owning cryptocurrency 2) using cryptocurrency for investment or purchasing needs 3) having a minimum of 3 years of investment experience. A questionnaire was distributed to a total of 121 valid respondents. The research data was processed using SEM-PLS, and from this, it was found that 21 out of 23 questionnaire items were valid. This research found that the adoption of cryptocurrencies can be influenced by several factors; trust and perceived value can improve the adoption of cryptocurrency, while financial literacy and perceived risk do not influence the adoption of cryptocurrency. Also, the moderation of short/long horizon variables is not able to strengthen the influence of perceived risk on adoption.
This study aims to find out and analyze the influence of financial literacy, experienced regret, and risk tolerance on cryptocurrency investment decisions among millennials. The collection data used in this study used primary and secondary data. The population in this study were millennials who had
This study investigates the factors influencing the adoption of financial technology (FinTech) and decentralized finance (DeFi) among small and medium-sized enterprises (SMEs) in Morocco. The research aims to shed light on the current landscape of digital financial services and explore the potential for DeFi implementation in the Moroccan context. Using a quantitative research method, data was gathered through self-administered questionnaires distributed to SMEs in Morocco. The Diffusion of Innovation Theory serves as the theoretical framework to understand the factors driving FinTech and DeFi adoption. The results reveal a strong and positive correlation between âRelative Advantageâ and âAdoptionâ (0.323), indicating that SMEs perceive FinTech and DeFi as beneficial and advantageous for their businesses. Additionally, a positive correlation is found between âTrial Abilityâ and âAdoptionâ (0.277), suggesting that SMEsâ ability to experiment with these technologies influences their adoption behavior. Furthermore, a weaker positive correlation is observed between âCompatibilityâ and âAdoptionâ (0.152), implying that the alignment of FinTech and DeFi with existing practices and systems plays a role in their adoption. Regarding DeFi implementation, the study finds that 64% of Moroccan SMEs maintain a neutral stance, while 5% express serious concerns about its future in the Moroccan financial landscape. This finding highlights the need for further education and awareness-raising efforts to foster a more positive perception of DeFi among SMEs. This research contributes to the existing body of knowledge by providing empirical evidence of the factors influencing FinTech and DeFi adoption among SMEs in Morocco. The findings offer valuable insights for policymakers, financial institutions, and technology providers in designing strategies to promote the adoption of these technologies and enhance financial inclusion in Morocco.
Investasi dengan cryptocurrency merupakan hal yang baru bagi sebagian masyarakat Indonesia, tidak jarang para investor crypto terjebak pada perilaku judi (maysir) dan spekulasi (gharar). Dewan Syariah Nasional Majlis Ulama Indonesia telah mengeluarkan fatwa haramnya transaksi dan investasi dengan cryptocurrency. Penelitian ini bertujuan untuk mengetahui apakah minat investasi dengan cryptocurrency terpengaruh oleh pengetahuan investasi, persepsi resiko dan literasi keuangan syariah. Data dihasilkan dari penyebaran kuisioner, hingga mendapat 100 responden baik pengguna maupun non pengguna crypto. Pengolahan data memanfaatkan SPSS versi 25 dan memakai analisis regresi linear berganda. Hasil uji hipotesis pengetahuan investasi (X1) pengguna maupun non pengguna crypto membuktikan tidak berpengaruh terhadap minat investasi dengan cryptocurrency (0,985 dan 0,235 > 0,05). Pengujian persepsi resiko (X2) pengguna crypto terdapat pengaruh positif (0,038 < 0,05) sedangkan non pengguna membuktikan ada pengaruh terhadap minat investasi dengan cryptocurrency (4,070 > 0,05). Pengujian literasi keuangan syariah (X3) pengguna maupun non pengguna crypto membuktikan berpengaruh terhadap minat investasi dengan cryptocurrency (0,001 dan 0,016 < 0,05). artinya literasi keuangan syariah khususnya fatwa yang menyatakan cryptocurrency adalah haram dapat memberikan informasi yang berguna bagi calon investor/investor tentang bahaya, tingginya resiko dan mudharat yang ditimbulkan. Penelitian ini memiliki keterbatasan pada jumlah responden serta moderasi variabel antara literasi keuangan syariah dengan tingkat religiusitas.
Ferdinand Nainggolan, Lady Lady, Ervinasari Harianja
Investasi pada Bitcoin di Indonesia meningkat setiap tahunnya, hal ini dikarekan para investor yang melihat peluang keuntungan yang baik dan mengerti pentingnya untuk melakukan investasi. Hal ini juga didasari, bahwa bitcoin sebagai wadah investasi yang dianggap mudah untuk digunakan menjadi pilihan para investor. Penelitian ini dilakukan guna mengetahui faktor apakah yang menjadi pendorong dalam melakukan repurchase intention terhadap bitcoin. Metodologi penelitian ini adalah dengan penyebaran kuesioner melalui form online terhadap 172 investor bitcoin yang melakukan pembelian bitcoin secara berkelajutan. Pada penelitian ini menemukan bahwa perceived of enjoyment, expectation dan perceived ease of use dalam penggunaan berpengaruh signifikan terhadap repurchase intention bitcoin, sedangkan satisfaction dalam penggunaan tidak memiliki pengaruh terhadap repurchase intention bitcoin.
Holding the loss without reason is one of the behavioural biases which are very common to be found in investment. Investment is also entering a new era of modern and sophisticated assets. One of these assets is known as cryptocurrencies. This article is written to detect whether the disposition effect is occurring to cryptocurrency investors and whether they are holding the loss. The disposition effect in this research was measured as respondents' perception of whether they sold the winning assets too fast and kept the failure in the long run. The result from this research is disposition effect was indeed found in descriptive statistics but failed to confirm the influence of independent variables on the disposition effect using the linear regression method. There is no effect of financial literacy, overconfidence, regret aversion, and risk tolerance on the perceptional disposition effect, which the emotional factor of loss aversion might cause. This will cause an individual to be reluctant to realize the loss in the hope the asset will return to the initial purchasing price. Further investigation will be the future area for developing research about the disposition effect. Interestingly, this research also found the literacy score of the respondents is deficient, but they are very confident in investing in the most volatile asset, such as cryptocurrencies. This research has several limitations, such as the sample being relatively similar in financial literacy, so selecting a wide range (heterogenous), sample in future research is crucial. Another improvement is in methodology, and perhaps an experimental approach could be a promising field in the study of behavioural bias in the future.
Putu Angelina Parassari Ningrum, Nyoman Trisna Herawati, Ni Kadek Sinarwati
Tujuan penelitian ini adalah untuk mengetahui pengaruh dari literasi keuangan, risiko toleransi dan terlalu percaya diri terhadap keputusan investasi cryptocurrency pada mahasiswa Fakultas Ekonomi Universitas Pendidikan Ganesha. Populasi penelitian ini adalah mahasiswa Fakultas Ekonomi Universitas Pendidikan Ganesha. Teknik pengambilan sampel yang digunakan dalam penelitian ini adalah Teknik accidental sampling dan diperoleh sampel penelitian sebanyak 106 mahasiswa. Metode pengumpulan data pada penelitian ini adalah melalui penyebaran kuesioner.Dalam penelitian ini menggunakan uji statistik deskriptif, uji kualitas data, uji asumsi klasik uji hipotesis yang meliputi uji analisis regresi linier berganda, uji t, uji F dan koefisien determinasi dengan bantuan aplikasi IBM SPSS 26 for Windows. Hasil dari penelitian ini menunjukkan bahwa variabel literasi keuangan dan variabel toleransi risiko berpengaruh positif dan signifikan terhadap keputusan investasi cryptocurrency pada mahasiswa Fakultas Ekonomi Universitas Pendidikan Ganesha. Sedangkan variabel overconfidence berpengaruh negatif signifikan terhadap keputusan investasi cryptocurrency pada mahasiswa Fakultas Ekonomi Universitas Pendidikan Ganesha.
Kadek Diah Listiyani Putri, I Gusti Ayu Nyoman Budiasih
The Ministry of Finance shows data regarding interest in investing in Cryptocurrency in Indonesia continues to increase. This study aims to obtain empirical evidence of the influence of investment knowledge, risk perception, returns, and motivation on students' interest in investing in Cryptocurrency. The sample was taken using the purposive sampling method and obtained 110 student respondents for the 2019 and 2020 batches of the Bachelor of Accounting study program, Faculty of Economics and Business, Udayana University. Multiple linear regression analysis was used in this study as a data analysis technique. Based on the results of the analysis, it was found that things related to investment knowledge, returns, and motivation had a positive effect on students' interest in investing in Cryptocurrency, while perceptions of risk had no effect on students' interest in investing in Cryptocurrency.
Universitas Lampung, Ahmat Nurmawan, Erlina Rufaidah, Rahmah Dianti Putri
This study aims to determine how students' perceptions of cryptocurrency investment assets are viewed from cost perception, benefit perception, and risk perception. This study used quantitative descriptive research method with survey approach. The population in this study is students of the Economic Education Study Program FKIP University of Lampung with a total of 230 students. The sampling technique in this study was Probability Sampling using the Simple Random Sampling technique and a sample of 146 students was obtained. The results stated that students of the Economic Education Study Program FKIP University of Lampung have a good perception of cryptocurrency investment assets in terms of aspects of cost perception and benefit perception. Meanwhile, in terms of risk perception, students of the Economic Education Study Program FKIP University of Lampung have a bad perception of cryptocurrency assets. Seeing the potential and development of financial instruments, students should begin to be sensitive and begin to understand all aspects in it before investing to avoid various kinds of existing risks.
This study aims to discuss the history, purpose, and reality of decentralization of financing management in local government, as well as analyze the conflict of corruption of education funds in Indonesia and formulate solutions. The method used is a literature study with descriptive analysis techniques. It describes the analysis of data evidence from official government websites and from the results of other parallel studies to find new discussions and experiences to formulate solutions that are much more relevant to the current bureaucracy. The results of this study explain that local government corruption cases after decentralization are the highest of other government agencies, and the source of funds that is the strongest possibility of this practice is the education sector. The education budget continues to soar every year, but the progress of educational development still needs to grow. With the political payback concept, the corruption chain is increasingly difficult to break. As time goes by, the barriers to education seem unchanged. In this case, the DPRD is required to oversee the process of distributing education funds from the central ministry to local governments, the mass media must be more transparent, and the need for anti-corruption education from an early age to form an attitude of responsibility and discipline, this anti-corruption education needs to be given repeatedly, especially for political contestants.
The popularity of virtual currencies has increased markedly in recent years. Seminars and conferences have explored the properties and sustainability of cryptocurrencies. Some argue that an alternative to the current fiat currency system would be beneficial, as it would not mandate the use of a bank account, tax payments, or audits as do the said cryptocurrencies. Alternative methods of payment, aside from those commonly accepted like cash, checks, and DD, have been claimed to enable tax and auditing avoidance. However, this view has been contested, given the potential negative impact on the economy and the government budget. The present study addresses the challenges and limitations involved in considering bitcoins to be halal. It has been determined that cryptocurrencies are not considered Halal in Islam because they lack intrinsic value and are subject to significant regulatory oversight. Popularitas mata uang virtual telah meningkat pesat dalam beberapa tahun terakhir. Seminar dan konferensi telah mengeksplorasi properti dan keberlanjutan mata uang kripto. Beberapa orang berpendapat bahwa alternatif dari sistem mata uang fiat saat ini akan bermanfaat, karena tidak mengharuskan penggunaan rekening bank, pembayaran pajak, atau audit seperti halnya mata uang kripto. Metode pembayaran alternatif, selain dari yang umum diterima seperti uang tunai, cek, dan DD, telah diklaim memungkinkan penghindaran pajak dan audit. Namun, pandangan ini telah diperdebatkan, mengingat potensi dampak negatifnya terhadap ekonomi dan anggaran pemerintah. Penelitian ini membahas tantangan dan keterbatasan yang terlibat dalam mempertimbangkan bitcoin sebagai sesuatu yang halal. Telah ditetapkan bahwa mata uang kripto tidak dianggap halal dalam Islam karena tidak memiliki nilai intrinsik dan tunduk pada pengawasan regulasi yang signifikan.
More and more millennials are interested in investing in crypto assets like Bitcoin and Ethereum. However, there is still uncertainty and hesitation in making this investment. This study aims to determine the effect of herding behavior on the millennial generation's intention to invest in crypto assets. This research was conducted in Indonesia with the respondents being the millennial generation who adopted crypto assets. The population in this study is the millennial generation of crypto asset adopters throughout Indonesia which continues to change every time, so the number is unknown. The sampling technique was carried out by purposive sampling with a sample of 220 respondents. Data was collected by distributing questionnaires via google form. The analysis used is SEM-PLS. The results of this study indicate that herding on social media environment has a positive and significant effect on behavioral intention. Herding on social media environment has a positive and significant effect on financial literacy. Herding on social media environment has a positive and significant effect on E-trust. Financial literacy has a positive and significant effect on behavioral intention. E-trust has no effect on behavioral intention. Ethical concern is able to moderate the influence of herding on social media environment on behavioral intention.
There are various views concerning the cryptocurrency issue. The majority of scholars and world Islamic bodies, such as Dar al-IftÄ 'al-Miᚣriyyah (Egypt), Dar al-IftÄ' al-Falasteeniyya (Palestine) and the Turkish Directorate of Religious Affairs, do not permit cryptocurrency for various reasons, including the existence of uncertainty (gharar), risk (khatar) and the fact that it facilitates (wasilah) the crime of fraud and money laundering. However, some Islamic financial and religious scholars do permit it. One scholar who views cryptocurrency positively and believes that it should be permitted is Mohd Daud Bakar, who is the Chairperson of the Shariah Advisory Council of Securities Commission Malaysia (SC) and former Chairperson of the Shariah Advisory Council for Bank Negara Malaysia (BNM). He is also former President of the International Islamic University (IIUM) and the chairperson or international Shariah advisor at various financial institutions around the world, including the S&P Islamic Index and Dow Jones Islamic Market Index (New York). His extensive experience of more than 25 years in this dynamic field has made him a leading and important reference expert. In 2015, in a report released by the Global Islamic Finance Report (GIFR), he ranked sixth among the worldâs 10 Islamic finance experts. This success has made him an expert, not only in the field of Usul al-Fiqh which is the core knowledge base of Islam, but also beyond the field of Islamic finance and law. This paper analyses the validity of Mohd Daud Bakarâs views on cryptocurrencies within the scope of Usul al-Fiqh according to the âillah, âurf, sad zaraiâ and fatḼ zarÄiâ methods. This qualitative study had obtained data from Facebook Live video recordings, reports and articles, which were then analysed using the descriptive content analysis method. It can be concluded from an âillah (legal operative cause) aspect that there is no acceptable âillah for banning this currency. From the point of view of al-âurf, cryptocurrencies are acceptable and do not contradict the principles of Shariah. Whereas from the point of view of sad zarÄiâ, this study found no solid evidence that it could lead to deleterious circumstances other than mere conjecture and assumption, hence, the introduction of cryptocurrencies should be permitted or made accessible. He also suggested the use of the fath zarÄiâ method, which is better suited for creating opportunities for innovation and creativity of financial products based on financial technology (fintech). Finally, he mentioned about the permissibility of cryptocurrency as a medium of exchange even if it does not become the legal currency of a country.
Virtual Economies continue to be a global phenomenon, and cryptocurrency is prominent in this process, and it can be attained by playing blockchains. The rise of non-fungible tokens (NFTs) is also increasing the demand for Ethereum. Thus, these features encourage many people to earn money while playing it that even young people (most likely undergraduate students) invest. There is no doubt that it is a good business for financial risk and problems, it also provides much more significant opportunities and applications. Somehow the notions of blockchain technology provides some negative outcomes, specifically in the behavioral aspects of them. In this paper, the researchers focused on socioeconomic status and behavioral aspects of the players and considered these two as the factors in their perspective about the blockchain games. The results on socioeconomic shows that most of them are playing because of financial problems and sees this as an opportunity to have an income. The results on Behavioral impacts through pareto analysis shows that most respondents suffer from the negative impact of playing blockchain games, 66% of the respondents has lack of sleep, 53.5% less focus in studies, 39.5% less interactive and more. Tukey method is also use to analysis whether which questions is significantly important in terms of obtaining and analysis the results from the survey conducted. In conclusion the socioeconomic stand is likely to affect their perspective in the blockchain games and shows that these games can lead to addiction because of the time spend in playing, the anxiety with the game and other negative outcomes.
The investment world today is vying for profit from investing in cryptocurrencies, so this encourages young people, especially students, to invest in cryptocurrencies, but financial literacy, herding behavior, and risk perception are things that influence investment decisions. The aim of this study was to identify the factors that influence studentsâ decisions to invest in cryptocurrencies. The research method used is quantitative, using questionnaires distributed to students in Bali; the sample in this study was active students currently studying at universities in Bali, Indonesia, totaling 179 samples; questionnaires were distributed using the Google form and analyzed using Warp PLS. The results show that investment decisions, herding behavior, and risk perception are all significantly and positively influenced by financial literacy. Perceived risk and herding behavior have a significant influence on investment decisions. Perceived risk and herding behavior can partially mediate financial literacy on investment decisions. The influence of financial literacy on investment decisions will be stronger if it is through perceived risk with a coefficient value of 0.412 and herding behavior with a coefficient value of 0.422. Based on the studyâs conclusion, it is important for investors, especially students, to prioritize improving their financial literacy before investing in cryptocurrencies. Additionally, investors should be aware of the potential impact of herding behavior and perceived risk on their investment decisions and take steps to mitigate their influence.
Rafles Ginting, David Crystopher, Khristina Yunita
Mental accounting is in the form of a series of cognitive operations used by individuals to code, categorize and evaluate their financial activities which is a development of prospect theory, where each individual has a tendency to classify money into certain groups according to a criterion. From this background, the researcher has the main objective of this study, which is to find out the meaning of mental accounting for the investment decisions of Indonesian cryptocurrency investors. Mental accounting may have some kind of meaning on investment decisions, especially cryptocurrencies, so this study aims to find out what leads to mental accounting in Indonesian cryptocurrency investors. This research method uses a qualitative phenomenological approach with in-depth interview primary data. The results show that the application of mental accounting helps investor in managing portfolios and finances, but anomalies in mental accounting and prospect theory can make investors make high-risk investment decisions and are prone to causing losses.
The transformation of information technology gave birth to the latest innovations, one example of which is public access to the financial transaction sector. The purpose of this study is to determine the effect of tax collection on cryptocurrency transactions and financial literacy on the intention to invest in cryptocurrency. This research uses a type of research using quantitative methods whose data uses statistical analysis and uses numbering. The population used in this study is all millennial generation in the istmewa area of Yogyakarta. The sample used for this study was a millennial generation with an age range of 18-50 years totaling 114 people. Sample collection technique with snowball sampling model where the distribution of questionnaires to resonence is carried out online, how to distribute questionnaires using social media (WhatsApp, Twitter, and Instagram). The study used multiple linear regression analysis. In the research that has been done, it can be concluded that tax collection on cryptocurrency transactions does not have an influence on investment intentions. Financial literacy has a positive influence on the intention to invest in cryptocurrencies. The results of research and discussion of each variable illustrate that financial literacy has an influence on the intention to invest in cryptocurrency for respondents, most of whom are students. This proves that financial literacy such as understanding and skills in managing finances have been applied well by students when deciding to invest.
Purpose â This study tries to find out what factors influence the intention to use cryptocurrency from a social and religious perspective using Self Determination Theory (SDT) and Theory of Planned Behavior (TPB).Methodology â Respondents were chosen using purposive sampling targeting z generation and analyze using Structural Equation Modeling - Pooled Least Square (SEM-PLS). 100 respondents took part in this study and analyze using SmartPLS 3.2.9 Software.Findings â The result of this study indicates that FoMO and Islamic financial literacy does not have influences on intention to use cryptocurrency while Attitude has a positive effect on intention to use cryptocurrency. The other finding of this study is religiosity and subjective norms has influence on attitude while higher level of religiosity will increase the Islamic financial literacy.Implications â Theoretically, this study contributes to financial behavior and financial technology study. Practically, this study can be used by developer of sharia investment platform to optimize their product. Because even all of our respondents are a moslem, majority of them didnât investing in sharia product but also donât have intention to engage in Cryptocurrency. Originality â We believe this study is the first empirical study that investigates the intention to use cryptocurrency from a religious perspective, specifically Islamic financial literacy.