Gilvina Grace B.A., Surahman Surahman, Muhammad Nurcholis Alhadi, Elviandri Elviandri
Cryptocurrency has emerged as a global innovation since the launch of Bitcoin in 2009, underpinned by blockchain technology that offers enhanced efficiency and transparency. Despite its potential, cryptocurrency presents complex legal challenges, particularly concerning its regulatory status. In Indonesia, cryptocurrency faces a dual regulatory framework: it is prohibited as a means of payment by Bank Indonesia pursuant to Law No. 7 of 2011 on Currency, yet simultaneously recognized as a tradable investment commodity by the Commodity Futures Trading Regulatory Agency (Bappebti). This study aims to analyze the implications of this duality for Indonesia’s national regulatory system. Using normative legal research and a statutory approach, the study reveals significant legal uncertainty arising from institutional regulatory inconsistencies. Such uncertainty may impede innovation and compromise consumer protection. Therefore, regulatory harmonization is essential to ensure legal certainty and adaptability, drawing on the theories of legal certainty and progressive law.
Nurul Ain Ahmad, Nurul Syafiqah Imran, Nur Ruwaidah Kairuddin, Norhazlin Zafira Kirman · 6 authors
Forex Trading merupakan satu aktiviti perniagaan dari segi tukar beli matawang. Terdapat ramai individu yang menggunakan kaedah Forex Trading ini untuk berdagang mata wang dan bertujuan untuk mendapatkan keuntungan. Bitcoin pula merujuk kepada alat pengukuran nilai yang digunakan dalam kaedah Forex Trading. Secara umumnya, artikel ini akan memfokuskan perbincangan tentang maksud Forex Trading, konsep mata wang kripto iaitu Bitcoin dan konsep riba. Selain itu, artikel ini telah mengkaji metodologi yang digunakan oleh penulis iaitu secara penyelidikan kualitatif. Penulis akan memastikan semua sumber-sumber yang digunakan adalah relevan dan berkaitan dengan penyelidikan supaya mudah dan sesuai untuk dijadikan rujukan. Di samping itu, terdapat perselisihan pendapat tentang hukum perdagangan Bitcoin berdasarkan kaedah Forex Trading mengikut syariah Islam. Artikel ini bertujuan untuk menjelaskan hukum-hukum penggunaan Bitcoin dan menerangkan beberapa pandangan ulama terhadap isu yang boleh dibangkitkan terhadap mata wang Bitcoin. Hasil perbincangan daripada artikel ini, jelaslah tentang hujah-hujah berkaitan hukum penggunaan Bitcoin sebagai alat pengukuran nilai dan terdapat beberapa langkah bagi mengatasi masalah yang berkaitan dengan penggunaan Bitcoin melalui kaedah Forex Trading.
Fani Budi Kartika, Muhammad Ihsan, Bambang Indra Gunawan, Muhsin Lambok Ilvira
The Non-Fungible Token (NFT) market has grown rapidly as one of the innovations in the digital economy, opening up new opportunities for creators to trade their works globally. However, this development also presents significant challenges related to copyright protection and dispute resolution in blockchain-based digital transactions. This study aims to analyze Indonesia's legal regulations in overseeing the NFT market, with a focus on copyright protection and dispute resolution mechanisms. The research method used is a normative juridical approach with a literature analysis of existing regulations, such as Law No. 28 of 2014 on Copyright. The results show that legal regulations in Indonesia have not fully accommodated blockchain technology and NFT transactions, thus creating legal loopholes that increase the risk of copyright infringement. In addition, the existing oversight and dispute resolution mechanisms are still conventional in nature, which is less effective for handling the complexity of the NFT market. To address these challenges, this study recommends the establishment of specific regulations governing copyright protection in the NFT market, the development of a technology-based surveillance system, and the implementation of a digital dispute resolution mechanism. The implication of this research is the importance of collaboration between the government, creator community, and technology platforms to create a healthy, safe, and competitive NFT market ecosystem. The findings are expected to be the basis for strengthening regulations and increasing legal protection on copyrighted works transactions in the NFT market in Indonesia.
This study examines the validity of cryptocurrency as a dowry in marriage in Indonesia from the perspectives of Islamic law and positive law. Technological advancements have driven the use of crypto assets as dowries, sparking debates regarding their legitimacy and mechanisms. This research aims to analyze these issues using a normative approach with contemporary ijtihad methods (intiqa’i and insya’i) and a statute approach. The findings reveal that, in general, the Indonesian Ulema Council (MUI) prohibits the use of cryptocurrency as a medium of exchange or commodity, except when it fulfills the requirements of sil’ah. In the context of national law, crypto assets can be used as dowries if agreed upon by both parties. The transfer mechanism requires a grant process before a notary to ensure legal validity. This study has implications for the development of regulations and legal understanding regarding the use of modern technology in religious traditions. Key words: Cryptocurrency, Dowry, Islamic Law, Positive Law, Technology.
Ryandika Abbel Syarief, Reka Dewantara, Ranitya Ganindha
In this study, the author addresses the issue of the absence of regulations concerning the Decentralized Finance (DeFi) system as a development within the cryptocurrency asset ecosystem. The Decentralized Finance system is capable of establishing a decentralized financial ecosystem using cryptocurrency assets. The regulatory framework in Indonesia has yet to provide adequate legal protection for cryptocurrency asset customers engaging in transactions within the Decentralized Finance system. This research employs a normative juridical method, utilizing a statute approach, a conceptual approach, and a comparative approach. The primary, secondary, and tertiary legal materials obtained by the author are analyzed using grammatical and systematic interpretation methods. The author concludes that the urgency of regulating the supervision of the Decentralized Finance system lies in its potential to provide legal protection for cryptocurrency asset customers by minimizing the risk of losses, particularly given society's difficulty in adapting to the rapid advancements in financial technology. The regulatory conceptualization proposed by the author, based on comparisons with regulations related to cryptocurrency and Decentralized Finance in Singapore, Australia, the European Union, and the FATF, suggests tightening the assessment and compliance processes for service providers and/or parties conducting business activities with service providers. This includes requiring specific certifications or licenses for the operation of Decentralized Finance systems, identifying the status and role of each party or entity involved, establishing governance protocols and emergency schemes, mandating reporting obligations and transparency for services and the cryptocurrency assets used within the system, and ensuring compliance oversight concerning the scale and scope of service products.
Digitalization has significantly changed the way contracts are executed, especially with the emergence of smart contracts. The positive impact of digitalization on contract law cannot be denied, however, there are also challenges and controversies that need to be addressed wisely. Qualitative research methods will be the main approach in exploring the impact of digitalization on contract law in smart contract analysis. By utilizing observations and document analysis, this research will explore an in-depth understanding of the implementation of smart contracts in the context of contract law. The practical implication is the need to update contract law regulations that accommodate technological developments, while the theoretical implication is the need for an in-depth understanding of the characteristics of smart contracts and their impact on traditional contract. the need to update contract law regulations to accommodate technological developments, especially in the use of smart contracts. Meanwhile, the theoretical implication is the importance of a deep understanding of the characteristics of smart contracts and their impact on traditional contracts in order to minimize potential legal conflicts. Keywords: Digitalization, Contract Law, Agreements, Smart Contracts
The implementation of government decentralization in Indonesia is facing regulatory problems for autonomous regions’ financing sources. Therefore, attention to regional finance is increasingly needed given that autonomous regions are required to carry out various central government interests in addition to their affairs. This leads to a split of power over financing development policy by the regional government. However, this does not mean that the local government’s financial needs must be free from the central government’s intervention. This study briefly compares financing regional autonomy in Indonesia, France, Germany and Thailand. The results show that the distribution of financial resources between the central government and regional governments is inconsistent with Article 18A section 2 of Law No.1/2022. The results also show that the provisions of various sources of taxation and levy have not met the financial needs of regions in Indonesia. Financial balance in the form of Natural Resources Production Sharing Fund from various natural resources owned by regions that only share unrenewable resources such as mining excavated materials remains unequally distributed between regions that have natural resources.
This study aims to analyze cryptocurrency investment models in relation to the prevention of money laundering (Anti-Money Laundering/AML) activities. Cryptocurrency, as a growing form of digital investment, has garnered attention from regulators due to its potential money laundering risks. This paper explores preventive strategies that can be implemented within cryptocurrency investment systems, including the use of blockchain technology, KYC (Know Your Customer) procedures, and international regulations such as the Financial Action Task Force (FATF) guidelines. Through a qualitative method based on literature review and policy analysis, the study identifies investment models that can minimize money laundering risks while maintaining profitability for investors. These findings provide insights into the challenges and solutions in developing a safer cryptocurrency investment system that complies with AML regulations.
Andika Prawira Buana, Rizki Ramadani, Aan Aswari, Zainuddin Zainuddin
Cryptocurrency has become a key focus in the evolving landscape of virtual finance, sparking a divide among Islamic scholars. The debate centres on whether cryptocurrency should be considered permissible for transactions under Islamic law. This study explores the polarisation among scholars, some of whom permit cryptocurrency use while others prohibit it. Using normative legal research methods with statutory and conceptual approaches from an Islamic law perspective, the study draws on secondary data, including primary, secondary and tertiary legal materials. The findings reveal that some scholars oppose cryptocurrency due to its lack of intrinsic value and high volatility, which leads to gharar (uncertainty). Conversely, others argue that cryptocurrency can be permitted if limited to monetary functions and not for other purposes. The study concludes by recommending that, as cryptocurrency becomes increasingly prevalent, Islamic scholars should work to establish ijma’ (consensus) and qiyas (analogical reasoning) to form a clear basis for determining its permissibility according to Islamic principles.
Lulu Anggriani, Defa Gustara Maulana, Mahipal Mahipal
The advancement of the digital era which is increasingly widespread and commonplace has encouraged a shift in transactions that makes various transactions easier. Modern innovation in the digital era has expanded payment methods beyond the traditional use of cash and current accounts (non-physical). Many people utilize cryptocurrency as digital money, but there are unavoidable pros and cons to this technology based on the blockchain protocol. Various arguments have been put forward for and against cryptocurrencies in Indonesia. One argument is that this does not adhere to standard practices for transactions and currencies. Another argument is that the Indonesian government has firmly stated that Bitcoin and similar virtual currencies are not legal tender in the country. The widespread use of digital money in people's lives requires research and analysis from religious and technology experts considering these events and facts. Bitcoin and other cryptocurrency transactions are considered gharar and dharar from an Islamic economic perspective
Perkembangan Smart Contract dalam hal ini dapat dikaitkan dengan stabilitas hukum di Indonesia, dimana metode untuk mengeksekusi kontrak telah menjadi semakin canggih. Dengan pertumbuhan yang pesat dari perkembangan teknologi yang menggunakan Smart Contract dan urgensi sejauh mana hukum yang berlaku di Indonesia saat ini dapat mendukung perkembangannya, muncul pertanyaan bagaimana Smart Contract bekerja? Kapan kehendak itu terjadi dalam Smart Contract? Dan, bagaimana terpenuhinya asas konsensualisme pada Smart Contract ditinjau dari perspektif Pasal 1320 KUH Perdata? Metode penelitian dalam penelitian ini dilaksanakan dengan metode normatif kualitatif. Hasil penelitian ini menunjukkan, Smart Contract bekerja dengan cara dijalankan tanpa adanya pihak ketiga dan tertulis di atas Blockchain. Kedua, terdapat kehendak di dalam Smart Contract, dimana kedua belah pihak yang bermaksud mengikatkan diri dalam Smart Contract mengirimkan enskripsi kriptografi mereka untuk saling berkomitmen di dalam Smart Contract, sebagai bukti bahwa keduanya telah sama-sama sepakat. Ketiga, asas konsensualisme pada Smart Contract ditinjau dari perspektif Pasal 1320 KUH Perdata menunjukkan bahwa kesepakatan menjadi fondasi yang esensial untuk keabsahan suatu perjanjian, memastikan bahwa setiap pihak yang terlibat telah sepakat dengan ketentuan yang ada.
After the relocation of the National Capital to the Nusantara, Jakarta has a new role as the National Economic Center and Global City. This new role also becomes the basis for maintaining Jakarta's special status as the National Capital. Jakarta's new role and special authority are outlined in the Jakarta Special Regional Law (JSR Law). As a special region, Jakarta also has special authority. At the conceptual level, the regulation and management of Jakarta's special authority apply the types of administrative decentralization, political decentralization, and fiscal decentralization. Furthermore, in addition to changing its role as the National Economic Center and Global City, the JSR Law also regulates Jakarta's special authority covering several specific aspects in the fields of government affairs, institutions, personnel and regional finance. Jakarta's special role and authority must be carried out based on the relationship between authorities involving the central government, the JSR provincial government, and local governments in the agglomeration area. In its implementation, the JSR Law is expected to be an effective legal instrument to welcome the new era of Jakarta after the relocation of the National Capital. Not only to meet the legislative target stipulated in the National Capital Law, the law regulating Jakarta as the National Capital must be amended no later than February 24, 2024, so that the regulation of Jakarta's special authority is relatively limited and 'it is what it is' compared to the major role it must play as the National Economic Center and Global City.
Blockchain is a revolutionary concept in information technology that allows the creation and storage of data in a decentralized and encrypted manner. However, blockchain is still a new system in the economic world, so it is necessary to ensure that this technology complies with Sharia standards. In this case, the Compilation of Sharia Economic Law is an essential guideline in Sharia economics in Indonesia because it provides legal certainty, regulatory standards, and consumer protection and supports the development of Sharia finance. This article was written to provide an overview of the opportunities for utilizing blockchain technology in the economic sector from a KHES perspective. The method used is library research, a normative juridical approach, by analyzing documents and information related to the study problem. The results show that KHES articles suit the blockchain character, some of which are articles 21, 179-180, 200, 413, and 577. However, an in-depth analysis is needed regarding the principles of Sharia and the need for a fatwa. Apart from that, it is essential to make clear regulations by the government and government authorities regarding the use of blockchain technology. With proper regulations, blockchain can become helpful in developing the Sharia economy. Abstrak Blockchain adalah konsep yang revolusioner dalam teknologi informasi yang memungkinkan pembuatan dan penyimpanan data secara terdesentralisasi dan terenkripsi. Keunggulan utama dari blockchain adalah transparansi dan keamanan. Kendati demikian, blockchain tetaplah system baru dalam dunia ekonomi, sehingga perlu dipastikan jika teknologi ini sesuai dengan standar syariah. Dalam hal ini, Kompilasi Hukum Ekonomi Syariah menjadi pedoman penting dalam ekonomi syariah di Indonesia karena memberikan kepastian hukum, standar regulasi, perlindungan konsumen, dan dukungan pengembangan keuangan syariah. Artikel ini ditulis untuk memberikan gambaran mengenai konsep blockchain dan peluang pemanfaatan teknologi blockchain di bidang ekonomi dalam perspektif KHES. Metode yang digunakan adalah library research, pendekatan normatif yuridis. Tahapan dalam penelitian ini, meliputi: pengidentifikasian secara sistematik, serta analisis dokumen dan informasi yang berkaitan dengan masalah kajian. Hasil menunjukkan terdapat pasal KHES yang sesuai karakter blockchain, beberapa diantaranya: pasal 21, pasal 179-180, Pasal 200, Pasal 413 dan Pasal 577. Meski demikian, dibutuhkan analisis mendalam terkait prinsip kepatuhan syariah dan perlu adanya fatwa khusus. Selain itu, penting dibuatnya regulasi yang jelas oleh pemerintah dan otoritas keuangan mengenai penggunaan teknologi blockhcain. Dengan regulasi yang tepat, edukasi yang memadai, dan penilaian dari ahli syariah, blockchain dapat menjadi alat yang sangat berguna dalam mengembangkan ekonomi syariah yang lebih adil dan transparan.
Matthew Edbert, Yoan Nursari Simanjuntak, Bebeto Ardyo
Perkembangan dan inovasi teknologi berpengaruh secara besar terhadap kehidupan masyarakat saat ini, termasuk dalam ranah industri kreatif. Dampak ini terlihat dengan adanya teknologi blockchain dan Non-Fungible Token (NFT) sebagai sarana untuk mendesentralisasi industri tersebut. Perkembangan ini juga menimbulkan risiko tersendiri, dimana karya cipta dapat disalahgunakan oleh pihak-pihak yang tidak berwenang melalui penciptaan dan transaksi NFT dalam sistem blockchain, sehingga mengakibatkan timbulnya kerugian bagi pencipta, baik secara materiil, maupun secara imateriil. Risiko inilah yang menjadi alasan diperlukannya pengkajian terhadap perlindungan hukum bagi hak pencipta dalam proses penciptaan dan transaksi NFT, baik berdasarkan Undang-Undang Nomor 28 Tahun 2014 tentang Hak Cipta, maupun ketentuan-ketentuan lain yang berlaku dalam proses tersebut agar dapat diketahui secara jelas perlindungan-perlindungan hukum yang diberikan kepada pencipta dalam pelaksanaan proses tersebut, serta dapat memajukan industri kreatif di Indonesia.
This study explores the evolving landscape of cryptocurrency taxation in Indonesia, focusing on regulatory developments and challenges. Tracing the trajectory from the introduction of Bitcoin in 2009 to the establishment of a formal crypto exchange in 2023, this research emphasizes the government's commitment to regulate and facilitate crypto asset trading. Despite this progress, challenges such as regulatory uncertainties, security concerns, necessitating a profound understanding of cryptocurrency dynamics to navigate the global financial landscape. This research focuses on exploring Indonesia's regulatory response, particularly in taxation, employing a qualitative descriptive methodology that integrates primary data from legal frameworks and secondary data through literature reviews, document analyses, and interviews with cryptocurrency traders and tax officials. This study contributes not only to academic discourse but also provides insights for fostering the growth of the cryptocurrency ecosystem while managing potential tax-related risks.
The Globalization system has had a huge impact on modern society, especially in the fields of science, technology, information and communication, all of which are developing rapidly. The most famous currency is Bitcoin or cryptocurrency. Because there are now no clear boundaries and no recognition of the existence of cryptocurrencies in Indonesia, these cryptocurrencies are facing a number of polemics regarding their use throughout the world, including in that country. The debate over whether Bitcoin is halal or haram in Islam continues among scholars who study the Koran, hadith, ijma and other Islamic books. One important area of expertise in the world of information security is cryptography. Today, professionals in the fields of computer science and mathematics discovered a new application of encryption that could improve the quality of life of local communities: the buying and selling of digital currencies known as cryptocurrencies. Digital currencies that are not subject to government regulation are known as cryptocurrencies; this does not include official cash. This cryptocurrency is the forerunner to the creation of digital currency which is now known as Bitcoin currency, which can be used like other types of money. And the result of the discussion is that whether scholars allow cryptocurrency or not. This research uses a qualitative method where this method focuses on in-depth observation. Therefore, the use of qualitative methods in this research can produce a study of a phenomenon that is more comprehensive with literature research. Based on the background information provided previously, the author identifies problems that require further investigation. Among other things, what is the meaning of cryptocurrency in the current understanding and context and what is Islamic law regarding the use of cryptocurrency as a transaction tool.
Penelitian ini bertujuan untuk mengkaji pandangan ekonom Muslim terkait cryptocurrency melalui studi komparasi pemikiran Buya Hamka dalam Tafsir Al-Azhar dan Sayyid Qutb dalam Tafsir Fi Zilalil Qur’an. Metode penelitian yang digunakan adalah library research, dengan teknik pengumpulan data melalui penelusuran literatur. Data yang terkumpul kemudian dianalisis dengan content analysis. Hasil penelitian menunjukkan bahwa pemikiran Buya Hamka dan Sayyid Qutb secara implisit melarang penggunaan cryptocurrency sebagai alat pembayaran, mata uang, asset, dan barang yang diperjualbelikan di Indonesia. Buya Hamka menekankan bahwa mata uang harus memiliki nilai intrinsik dan transaksi harus adil, sementara Sayyid Qutb menuntut kepatuhan terhadap prinsip syariah dan perhatian terhadap dampak sosial dan keadilan.
Transactions and investments using cryptocurrency in their application based on Islamic law are still debated. Cryptocurrency is a transaction tool that can be used easily and safely, but remember that cryptocurrency can be haraam because it is something whose physical condition is uncertain or unknown. It can be concluded that cryptocurrency is a digital currency where transactions can be carried out online. Unlike printed paper currency, cryptocurrencies are designed by solving mathematical problems based on cryptography. This currency was formed based on Cryptographic technology so that it cannot be easily duplicated or transferred to other parties who are not the owner and do not have access to this currency. In determining or establishing cryptocurrency laws, Islam has its own methods and reference sources, first from the Koran and second from al-Hadith, third from Qiyas and fourth from Sadd-adzariah. The pros and cons that occur in society regarding cryptocurrency have not yet reached a clear point. In Indonesia itself, the government has not taken a definite stance on the existence of cryptocurrency. Even cryptocurrency is not a legal means of payment in the country. This is in accordance with the regulations of Law No. 7, Article 1 Paragraph 1, 2011, that the means of payment accepted in Indonesia only use the Rupiah currency. From the perspective of Islamic law, cryptocurrency may contain elements of gharar and maysir, because its use is for speculation and its physical form cannot be seen.
Razaq Mustika Djati, Tjokorda Istri Diah Widyantari Pradnya Dewi
This research is normative research using a statutory regulation approach, a concept approach, and a comparative approach. The law used consists of primary legal materials, namely regulations and international agreements and publications of international organizations, as well as secondary legal materials obtained from relevant books, journals, literature, documents, and archives through library research. The results of this research show that, (1) due to the absence of official regulations that prohibit cryptocurrency transactions and coupled with several regulations regarding international electronic transactions that can also be applied to these transactions, this transaction is permitted to be carried out as long as the country where the transaction is carried out allows it or holds bilateral agreements with other countries regarding this regulation. (2) Cryptocurrency transactions give rise to various legal problems, especially legal threats in international trade law; these legal threats are more accurately described as disclosures of laws or statutory regulations. There are several multilateral efforts by countries to establish arrangements or regulations for the use of currency. crypto money Because there are things that are not regulated or do not fall within the scope of applicable regulations, countries are required to make their own decisions. There are countries that refuse, and there are also those that make special rules for this transaction.
Penelitian ini menyelidiki perlindungan hukum bagi investor dalam konteks investasi cryptocurrency di Indonesia, sebuah sektor investasi yang semakin diminati namun belum diatur secara khusus. Metode penelitian yang digunakan penulis adalah pendekatan penelitian hukum atau yang dikenal sebagai penelitian hukum doktrinal. Penelitian ini melakukan analisis terhadap kerangka regulasi, termasuk peraturan yang dikeluarkan oleh otoritas keuangan dan badan pengawas di Indonesia. Selain itu, penelitian ini mengevaluasi hambatan dan tantangan dalam memberikan perlindungan hukum yang memadai bagi investor cryptocurrency. Hasil penelitian menunjukkan bahwa meskipun beberapa langkah telah diambil untuk mengatur pasar cryptocurrency di Indonesia, masih terdapat kekosongan dalam perlindungan hukum bagi investor. Regulasi yang terbatas dan ketidakpastian hukum dapat meningkatkan risiko investasi bagi pemegang aset digital. Oleh karena itu, penelitian ini diharapkan memberikan rekomendasi untuk meningkatkan perlindungan hukum investor, termasuk pembaruan regulasi, peningkatan transparansi, dan pendidikan investor mengenai risiko cryptocurrency.
Cryptocurrencies have sparked intense debate within the global business and financial sectors. While promising substantial investment growth, they also present significant challenges, particularly concerning investor protection. In the context of Islamic business, the emergence of cryptocurrencies raises profound questions regarding compliance with Sharia principles and safeguarding investor interests. This article aims to scrutinize these issues from an Islamic business perspective, focusing on investor protection. Through a synthesis of literature and conceptual analysis, this study identifies several critical concerns. Firstly, it assesses the Sharia compliance of cryptocurrencies concerning their structure, transactions, and utility. Secondly, it examines risks associated with price volatility and the stability of investment values. Thirdly, it addresses the ambiguity in regulations and legal frameworks, impacting investor security and protection. Finally, it discusses the integration challenges of Islamic business ethics in the cryptocurrency landscape. The findings underscore that while cryptocurrencies offer potential for lucrative returns, they also entail substantial risks in terms of investor protection from an Islamic business standpoint. Consequently, there is a pressing need for robust regulatory frameworks that align with Sharia principles, alongside enhancing investor awareness and comprehension of cryptocurrency investment risks
As important participants in Sharia governance, Malaysia and Indonesia emphasize the importance of a Sharia supervisory board at the institutional level to ensure compliance with Islamic principles. This study provides a comparative analysis of Sharia governance practices in Indonesia and Malaysia, focusing on the key differences and similarities between the Sharia governance frameworks in Malaysia and Indonesia. The method adopted in this study was document research. This method allows researchers to access a wide range of information and perspectives from various sources such as books, academic journals, government reports, and online databases. The findings reveal that both Malaysia and Indonesia have implemented Sharia governance frameworks in their Islamic financial institutions. However, their structures and regulatory frameworks differ from each other. Malaysia follows a two-tier structure with a comprehensive framework, whereas Indonesia follows a decentralized model with dispersed regulations. Both countries require the establishment of a Sharia committee at the institutional level to ensure compliance with the Sharia principles. Therefore, this comparative analysis enhances the understanding of Sharia governance in Islamic banking and finance, shedding light on the strengths and weaknesses of Malaysia and Indonesia's frameworks
The development of Non-Fungible Tokens (NFT) has significantly impacted global economic trade. However, in Indonesia, the regulation surrounding NFT remains insufficient, particularly concerning law enforcement and equitable royalty distribution for commercialized artistic works. This research adopts a normative juridical approach, employing statutory, comparative, and conceptual analysis methods. Findings indicate that NFT, as three-dimensional artistic creations, fall under the protection of the Copyright Act. While Indonesia has addressed NFT regulation in various laws and government regulations, detailed provisions regarding digital transactions involving three-dimensional artworks are lacking. Moreover, inadequate legal safeguards for NFT sales underscore the pressing need for legal reform. Therefore, the adoption of Droit De Suite through legal transplantation is proposed as a prudent strategy for legal modification, offering numerous normative and operational benefits. Droit De Suite is a principle born from the Berne Convention, where the requirement to apply Droit De Suite is that the state must give permission or legally recognize that the state has been regulated in its legislation. In addition, Droit De Suite is the right given to the artist or creator and his heirs to resell copyrighted works that have been produced previously, so that the creator's heirs are entitled to a share of the resale of a work. This approach holds promise for enhancing the legal framework surrounding NFTs and promoting fair treatment of artists and stakeholders in Indonesia's digital economy landscape.
NFT adalah salah satu bentuk aset dibidang seni, NFT dapat berfungsi sebagai bukti kepemilikan dan keberadaan aset digital dalam bentuk karya seni, video, foto, hingga musik. Lebih lanjut, pembuat aset digital dapat memperoleh keuntungan dari perdagangan di pasar NFT atau pertukaran secara peer-to-peer. Dengan menggunakan sistem blockchain untuk fungsi validasi dari keaslian suatu karya. Metode penelitian yang digunakan dalam penelitian ini ialah, yuridis-normatif. Metode yuridis- nasional dan merupakan pedoman sosial yang dipakai sebagai standar berperilaku. (Marzuki, 2005). Perlindungan hukum atas aset digital NFT yang dijamin keamanannya tercermin dalam UU Hak Cipta No. 28 tahun 2014. Salah cara untuk mencegah pelanggaran hak cipta oleh pencipta atau seniman karya seni adalah dengan mendaftarkan hak cipta karya seni Anda sebelum menerbitkannya di Non-Fungible Tokens (NFT).