Blockchain Papers

Denny Denny, Hari Sutra Disemadi

Cryptocurrency is a centralised network currency system that can connect users without intermediaries or third parties such as banks or governments. Countries globally have different attitudes in drafting regulations regarding cryptocurrencies; some accept, reject, or are neutral. The application of cryptocurrency as a payment medium has not yet been regulated in Indonesian legal jurisdiction. However, cryptocurrencies have various opportunities that can positively impact the country's economy. Indonesia must face various challenges in implementing cryptocurrency as payment. This study examines the opportunities and challenges of implementing cryptocurrency as a payment medium by using a responsive legal theory review. The study was carried out using doctrinal research methods. Indonesia's cryptocurrencies currently do not have a lex specialist (particular regulation). However, the application of cryptocurrency as a payment medium can increase e-commerce transactions, have a payment system with high confidentiality and security, and fast, precise, and low-cost transactions. The challenges that must be implemented are developing institutions and legal constitutions that regulate cryptocurrencies as a payment medium, developing blockchain systems and their application in cellular technology.

Irvin Ng, Johny Budiman, Junita Junita, Viviani Viviani · 6 authors

Cryptocurrency is becoming more and more popular as an investment asset. With a high risk high return characteristic of cryptocurrency, doesn’t stop people from investing into cryptocurrency. This research will study empirically regarding determinants behind cryptocurrency investment decisions with The Theory of Planned Behavior applied and added perceived risk as extra variable as well as the mediating role of attitude in behavioral intention to invest in cryptocurrencies. It is found that attitude, perceived behavioral control and subjective norm are key drivers behind cryptocurrency investment decision with perceived risk not affecting the behavioral intention. Attitude also mediates relationship between perceived behavioral control and subjective norm towards behavioral intention while attitude fails to mediate perceived risk towards behavioral intention to invest in cryptocurrency

Resti Hartini, Vegasari Adya Ratna

Public interest in cryptocurrencies and NFTs has increased since the Covid-19 pandemic, especially for artists and art lovers. The function of NFTs is to apply the usability of credits or royalties to a work. Hic et Nunc is an alternative marketplace that is known to be environmentally friendly compared to other Ethereum-based marketplaces that are known for high gas fees and ecological issues. Unfortunately, in the midst of its popularity, Hic Et Nunc was discontinued without any warning and its website is no longer accessible. This situation created sites that mirrored Hic Et Nunc such as objkt.com or henext.xyz. This research discusses the factors that make art collectors have loyalty to Hic Et Nunc by staying and not switching to the dominant market location. The research method was based on a descriptive qualitative approach with in-depth interviews with 3 informants, all of whom are active art collectors and loyal to the Hic Et Nunc marketplace. Based on consumer behaviour theory and market theory, the results stated that collectors are influenced by their work, social and cultural environment. Besides, the factors for choosing Hic et Nunc as a marketplace include being an alternative platform to the dominance of Ethereum, a digital investment medium and recognition by the social environment.Keywords: NFTs, Hic et Nunc, Collectors, Marketplaces

Hendriyati Haryani, Syahrul MuArif Wahid, Anandha Fitriani, Muhammad faris Ariq

Dalam dunia pendidikan terdapat 2 aspek yang digunakan sebagai solusi untuk mendukung pendidikan yang lebih baik. Aspek pertama berupa konsep blockchain modern yang memiliki potensi positif apabila diterapkan dalam dunia pendidikan. Aspek kedua berupa konsep kegiatan pembelajaran bersaing dalam bentuk pekerjaan berupa gamifikasi. Blockchain dan gamifikasi adalah topik yang berkembang pesat di bidang akademis dan bisnis, mewakili perubahan paradigma dari komputasi terpusat ke desentralisasi. Namun permasalahan pada saat ini, masih minimnya penelitian mengenai blockchain yang diimplementasikan pada bidang gamifikasi pada dunia pendidikan masih minim jumlahnya. Kedua bidang tersebut dapat dikembangkan lebih lanjut secara intensif sebagai bagian dari pengenalan TIK dalam pengajaran mendalam dan juga dalam pendidikan orang dewasa. Sehingga, tujuan dari penelitian ini yaitu untuk menganalisis peluang penerapan teknologi blockchain dan gamifikasi di dunia pendidikan. Metode yang digunakan adalah Systematic Literature Review (SLR) untuk mengidentifikasi jenis teknologi blockchain dan gamifikasi yang telah digunakan secara terstruktur di dunia pendidikan. Hasil dari penelitian ditemukan bahwa teknologi blockchain dan gamifikasi dapat memberikan solusi bagi dunia pendidikan.

Untung Rahardja

In this era of global economic development, especially in Indonesia, it is inseparable from elements of high technology such as information. The development of information technology considers all fields, including the financial sector. Cryptocurrency, often called virtual/digital currency, results from the evolution of financial technology. Digital currency is widely used as a payment method on the Internet. This currency was created to provide convenience and security when making payments—with the included blockchain technology, reducing transaction costs. However, in this case, Bank Indonesia, the government has banned digital/cryptocurrency transactions because it hurts the Indonesian financial system, currency stability, and payment system. This study explains the impact of cryptocurrencies on the Indonesian economy and the government's attitude towards the technology it contains. In terms of the technology offered, cryptocurrency is an evolution of financial technology and will allow financial transactions to replace paper money with digital money in the future. The government will study more deeply the technology contained in cryptocurrencies. The policies made later will not prohibit the technology contained in cryptocurrencies. In general, it provides knowledge to gain a deeper understanding of cryptocurrencies. You will be able to do it.

Budi Dharma, Putri Gusniati, Tria Wardani

Investasi menjadi salah satu kegiatan yang digemari oleh masyarakat karena dapat meningkatkan keuntungan dari kegiatan tersebut. Ragam media investasi sangatlah banyak salah satunya adalah cryptocurrency dalam bentuk bitcoin yang saat ini marak beredar. Tujuan penelitian untuk mengetahui segmen manfaat dari kegiatan investasi yang dilakukan menggunakan cryptocurrency dalam bentuk bitcoin. Metode penelitian yang digunakan adalah metode penelitian kualitatif. Hasil penelitian menunjukkan bahwa, bitcoin mampu dan dapat digunakan sebagai alat alternative dalam menjalankan kegiatan investasi karena beberapa manfaat seperti (1) keunggula bitcoin mengenai stabilitas harga di pasar global yang dapat dipergunakan sebagai simbolik kestabilan harga di dunia, (2) bitcoin memiliki kemudahan proses pembayaran hanya dengan memanfaatkan website yang dipergunakan untuk menjalankan kegiatan transaksi, (3) bitcoin telah mendapat legalitas dari banyak pihak sehingga kegunaannya sangat kompleks dan mudah untuk dikelola, (4) bitcoin mampu memberikan sumbangsih dalam menuntaskan berbagai masalah perekonomian seperti kegiatan inflasi.

I Gusti Made Teddy Pradana, Taufik Djatna, Irman Hermadi, Indah Yuliasih

Coffee is a crucial agricultural commodity in developing nations like Indonesia; so it is important to implement a trustworthy traceability system for the product. However, there are no established guidelines for developing a blockchain-based traceability system that the coffee industry can adopt. Therefore, this study aims to present a Digital Business Ecosystem (DBE) framework and a blockchain-based traceability system prototype for Indonesian coffee. The study process involved a literature review, field observations, and the creation of the proposed frameworks and prototypes using an integrated rapid prototyping method. The proposed DBE framework has three layers: business, digital, and infrastructure, while the prototype has use case diagrams and a model of functional, technological, and transaction flows. The system was validated through deployment tests such as recording-tracking coffee data using Ethereum smart contracts and interplanetary file system. The interconnectivity was verified through a mobile-based user interface design that includes registration and login pages, a main page, a transaction confirmation page, and a traceability page. It was discovered that the proposed framework and prototype have a high potential for real-world implementation due to their ability to effectively address the challenges and promote a positive business community culture while being supported by the mapped DBE layers. Further study is recommended to test and enhance the proposed framework and prototypes and examine the relationship between system development and technology adoption. Moreover, managerial insights were provided to the coffee business community, policymakers, and developers for the successful development of Indonesian coffee DBE with the blockchain-based traceability system.

Hatta Muttaqin

Currently, the use of cryptocurrency has been increasingly popular around the globe. In fact, cryptocurrency became the special topic in the 2018 G20 Summit in Buenos Aires. Moreover, in 2021 El Salvador has become the first country in the world to declare Bitcoin as its legal medium of exchange other than US Dollar. In Indonesia the use of cryptocurrency is also growing rapidly. According to Indonesia Crypto Outlook Report 2020, there was a 2,263% increase of cryptocurrencies users from 2015 to 2020, with the total number of users in Indonesia reaching 1,547,329 persons. Based on this development, it is necessary to conduct research to observe what factors influence the use of cryptocurrency in Indonesia. Previous study about behavioral intention in the use of cryptocurrency found four influencing factors, which are performance expectancy, social influence, effort expectancy and facilitating conditions. This research aims to determine the influence of those four factors to behavioral intention to use cryptocurrency in Indonesia. It uses a quantitative approach with survey as its method. Furthermore, the data is analyzed using multiple linear regression techniques. Tests carried out included validity & reliability tests, normality tests, multicollinearity tests, heteroscedasticity tests, autocorrelation tests, F tests and t tests. The results of the study show that performance expectancy, social influence, effort expectancy and facilitating conditions have a significant effect on behavioral intention to use cryptocurrency.

Ni Wayan Mega Sari Apri Yani, I Made Trisna Semara, Putu Eka Wirawan

Pengabdian ini didasarkan untuk membantu kelompok seni lukis di Desa Wisata Sayan Kecamatan Ubud Kabupaten Gianyar dalam mengatasi penurunan nilai komersial seni lukis, dan menciptakan model pemasaran yang dapat berkontribusi terhadap para seniman. Sehingga mampu meningkatkan nilai jual karya seni para seniman di Desa Wisata Sayan. Berkaitan dengan masalah tersebut kegiatan pengabdian masyarakat ini memberikan solusi untuk menyelesaikan persoalan tersebut dengan memberikan bantuan mengkomersilkan karya seni melalui NFT (Non-Fungible Token) dan mempromosikan dengan melibat influencer mahasiswa IPBI. NFT memerlukan platform berbasis blockchain agar dapat berjalan. Metode pengabdian yang digunakan adalah dengan metode survey, metode partisipatory rural apprasial (PRA), pemberian Pelatihan, Pendampingan, dan Monitoring. Tujuannya adalah untuk meningkatkan kualitas meningkatkan nilai komersial seni lukis para seniman di Desa Wisata Sayan Kecamatan Ubud Kabupaten Gianyar.

Phi Dinh Hoang, Emmanuel L. C. VI M. Plan, Nguyễn Thị Ngà

PurposeAs an emerging technological and financial asset, non-fungible tokens (NFT) have yet to be completely understood and, owing to bubble-like behavior along with pandemic effects, literature has mostly focused on pricing mechanisms and spillover effects between cryptocurrency and NFTs.This work aims to determine the significant determinants of trading activity in NFT collections quantified by the number of transactions as a means to characterize NFTs investors behaviours. Design/methodology/approachNFTs collection-week data from the Ethereum blockchain were scraped.Together with collection-specific features, we employ factor analysis and rich regression estimation to identify the factors that are significantly correlated to trading activity. FindingsOur results, consistent across the different models and methodologies, indicate that the historical transaction and pricing as well as Ethereum market activity are the important determinants of NFTs trading activity.Certain collection-specific properties also show significant relationship with NFTs trading activities, such as age, size, creators commision, collection attention, and utility. Research limitations/implicationsOur work calls for more studies to fully understand the effect of wash trades and on NFT market activity. Practical implicationsOur results give recommendations to NFT investors and can guide them in performing sensible investment decisions at the level of selecting potential liquid and valuable collections.Given NFTs trading activity closely associate with NFTs market liquidity, understanding the determinants of NFTs trading provide important implications for preventing market failure.

Rizka Amalia Farentina

The Economic growth of Central Java Province from 2015 to 2018 experienced a slowdown compared to other provinces in Java. One of the main focuses on improving the economy is fiscal decentralization which is manifested in the form of village funds. This is in line with one of nine development priorities for the next five years agendas, or so- called Nawacita, namely to develop Indonesia from the periphery by strengthening regions and villages within the framework of a unitary state. The village funds data from the Ministry of Finance shows that Central Java Province receives the largest village funds each year, but this does not necessarily increase economic growth in the recipient districts. In addition to the economic growth policy, the government also plans through investment and government spending. The purposes of this study are to determine the effectiveness of the village fund budget and the effect of the realization of village funds, capital expenditure, goods and services expenditure, and the level of open unemployment on economic growth. The method used in this study is the panel data regression analysis method with the research locus of 29 districts receiving village funds in Central Java Province from 2015 to 2018. The results of the study using the selected panel data regression model that is the Fixed Effect Model FGLS SUR show that all independent variables influence significantly to economic growth (GRDP). The variable realization of village funds and goods and services expenditure has a significant positive effect, while the variable realization of capital expenditure and the variable open unemployment has a significant negative effect on economic growth (GRDP).

Mohammad Sholeh, Muhammad Fauzinudin Faiz, Moh Muhlis Anwar

Cryptocurrency is a result of recent development of digitalization in the financial transaction. OneGram is a part of it that uses gold instruments to back up and maintain its value stable. The purpose of this study is to explore how Islamic law and MUI & NU, through their fatwa, percieve the OneGram. This research uses a qualitative approach to gain a deep understanding of the OneGram by using secondary data collected from the Quran, hadith, relevant academic journals according to Islamic law and fatwas from both organization. The results of this study state that OneGram is allowed by Islamic law and the fatwa to be used as digital payment system. OneGram is furthermore supervised by shariah supervisory board to avoid gharar (uncertainty) and maysir (gambling) in maintaining its value. The unique fact from this digital currency is that the use of gold in transaction had been applied in the time of Prophet Muhammad SAW. From this digital development, OneGram as a gold-backed cryptocurrency can revive the function of dinar as currency. OneGram transforms the gold value in dinar coin which physically has no flexibility in today transaction to the gold value in digital platform which has flexibility in digital transaction with broad accesability.

Muhammad Fauzi, Kusnadi Kusnadi, Musdizal Musdizal, Rafzan Rafzan

This study aims to determine whether Cryptocurrency status can meet the criteria of wealth/property (Maal) and currency in Islam. This is based on the fact that the issue of Cryptocurrency as Maal and money in Islam has attracted attention from various parties. Cryptocurrency is a digital/virtual currency, with a decentralized system using peer-to-peer (Blockchain) technology without being regulated and issued by a third party. In contrast to fiat currency in physical form (banknotes and coins) and non-physical fiat currency (demand) which is centralized/regulated and issued by third parties. This research was conducted using the Literature Review approach. This research shows that Cryptocurrency status can meet the criteria of Maal and currency in Islam has not yet seen a thread, because from various parties there are still differences of opinion, there are cons group opinions;, netral groups opinions;, and there are also pros groups opinions;. Finally, this area is open for future research as many issues remain unresolved and more concrete work is needed.

Waluyo Slamet Pradoto, Doris Rahmat

This study investigates the possibility of taxing digital assets such as cryptocurrency and NFT in order to raise funds for the government. Using normative research approaches, it is possible to determine if cryptocurrencies and other digital assets (NFT) should be subject to high or low tax rates. The study looked at the tax policies of numerous countries addressing cryptocurrencies and digital assets, in addition to studying bitcoin tax laws and NFT. Different laws, methods, and issues apply to the regulation of cryptocurrencies and NFT depending on the jurisdiction. There is no universal agreement on this. Keywords: taxes, cryptocurrencies, digital assets, NFT

Erni Dwi Astutik, Mohammad Lathoif Ghozali

In recent years, technological advances have grown so rapidly, including progress in the economic field. the existence of cryptocurrencies or digital money, provides a new alternative as a transaction tool, investment instrument or as a trading commodity. On the other hand, the legitimacy of using cryptocurrencies is still a matter of debate in various circles. Researchers want to study the use of cryptocurrencies with the sadd dzariah approach. This research is a quantitative research and is a library research. The data analysis technique used is descriptive-analytical with a normative juridical approach to Islamic law. The results of the study indicate that the use of cryptocurrencies in business transactions, as an investment instrument, and illegally traded commodities, is maysir and gharar. So it should be avoided containing mafsadat rather than benefit, and has the potential to bring more harm than good/mafsadah.

Taufiq Gilang Adhitama, Anggunmeka Luhur Prasasti, Ali Fahmi Perwira Negara

Baitul Maal Wa At Tamwil (BMT) is a sharia financial institution that provides savings and loan services in accordance with the social, cultural, and economic needs of rural communities, especially in agricultural and plantation communities. The current data management is still using manual recording and a centralized server which can cause fraudulent financial reports and creates a lack of credibility between BMT and its customers. The research method is to decentralize the application data system by using blockchain technology, then replacing the conventional database to blockchain system. The simulation shows that the e-BMT application are connected to blockchain network as intended, users can use metamask to interact with the Ethereum network, the blockchain implementation on e-BMT application has run according to expectations with a 100% success rate with the average transfer time on two devices of 9.47 seconds and 12.13 seconds. While the results of data entry time on two devices obtained an average of 9.96 seconds and 37.09 seconds. While the blockchain implementation on e-BMT could provide access to every user so that each entity could confirm the validity of the transactions, the size of the transactions, and other data recorded on the blockchain without having to develop an integrated database system. The research contributes in two aspects, first, we develop the distributed blockchain system using public Ethereum blockchain network integrated with with popular e-wallet such as metamask, provides easy access for both customers and BMT parties who are connected to the network so that the recorded data can be accessed by anyone, and second, the application of blockchain technology to BMT is capable to interact with users as it is built on a website platform with RESTful API.

Shofa Robbani, Ifa Khoiria Ningrum

The phenomenon of buying and selling online continues to grow, especially in 2022, when Ghozali shocked the Indonesian people by selling 933 non-fungible token digital works for $1.5 billion on the OpenSea Online Market. But not all people respond, because everyone can sell other people's art, sell images that contain pornography, and commit fraud under the guise of investment. In Sharia economic law, on the other hand, the element of fraud and the sale of something that does not belong to him are prohibited. The mechanism of buying and selling non-fungible tokens on the OpenSea online market is discussed in this study, as well as how the law is based on Islamic economics.This type of research uses a qualitative approach by seeking direct data from parties involved in buying and selling non-fungible tokens on the Opensea online marketplaces, from journals, articles, books, and other sources. The theory of "al-mal" and "al-bai' is used to analyze this research using a qualitative deductive method. The results of the research show three mechanisms in the practice of buying and selling non-fungible tokens on the Opensea online marketplace, which include the creation, sale, and purchase of digital artwork, and most of them are carried out on the Ethereum and Polygon blockchain platforms. According to sharia economic law, when buying and selling non-fungible tokens on the Opensea online market is analyzed using the mall theory, the majority of Ulama argue that non-fungible tokens can be classified as malls, while some groups of followers of Imam Hanafi do not justify non-fungible tokens as malls because of their non-concrete nature. Meanwhile, if it is captured using the "bai' theory, the practice of buying and selling non-fungible tokens is not covered by sharia because, in practice, people can easily sell other people's digital artwork, sell images that contain pornographic elements, and are very vulnerable to involvement in non-fungible token sale scams such as forgery of digital artwork descriptions and investment scams. As for those who can avoid all these negative elements, then they are returned to the original law of bai', namely mubah.

Ilham Ramadhani

Penelitian ini bertujuan untuk menganalisis faktor yang menjadi penyebab naik atau turunnya harga Bitcoin. Penelitian ini menggunakan metode kuantitatif deskriptif. Digitalisasi telah merambat pada dunia investasi yang telah melahirkan investasi dengan sistem blockchain yaitu cryptocurrency, peneliti berfokus pada Bitcoin dari berbagai macam bentuk cryptocurrency. Bitcoin salah satu dari banyaknya macam bentuk cryptocurrency menjadi popular akhir-akhir ini. Masyarakat menjadikan Bitcoin sebagai investasi pengganti selain saham dan emas. Berdasarkan hasil analisis yang telah dilakukan, dapat ditarik kesimpulan bahwa secara parsial kurs tidak berpengaruh signifikan terhadap harga Bitcoin, indeks harga LQ45 berpengaruh signifikan terhadap harga Bitcoin, trend berpengaruh signifikan terhadap harga bitcoin, suku bunga the FED berpengaruh signifikan terhadap harga Bitcoin, dan dummy perang Ukraina berpengaruh signifikan terhadap harga Bitcoin. Penelitian ini memberikan implikasi bahwa pemerintah lebih memperhatikan investasi lain selain emas dan saham yang sudah umum di Indonesia, masyarakat juga perlu berhati-hati untuk investasi di Cryptocurrency karena selain high risk high return tetapi juga minim regulasi dari negara untuk tindak kejahatan di dunia cryptocurrency.

Alfian Alfian

Bitcoin is the first cryptocurrency that is widely accessible and the most sought after by investors working in the Cryptocurrency world. At the same time, the price of Bitcoin continues to fluctuate, raising concerns about inflation and monetary aggregates in Indonesia. Therefore, Bank Indonesia (BI) prohibits financial institutions in Indonesia from using cryptocurrencies as a means of payment or financial services. This is also supported by the Indonesian Ulema Council (MUI) institution by prohibiting the use of cryptocurrencies in Indonesia. Apart from the policies of Bank Indonesia and the MUI, there are several factors that cause the use of cryptocurrencies to be prohibited in Indonesia, including having a negative impact on the economy and the environment.
 Keyword: Cryptocurrency; Bitcoin; Indonesian policy; environmental impact.

Alfian Alfian, Dedi Harianto, Mustamam Mustamam

Transaksi jual beli yang berbasis internet telah mereformasi transaksi jual beli yang terjadi secara konvensional, di mana transaksi antara Perkembangan teknologi yang sangat pesat membawa kemajuan pada hampir seluruh aspek dalam kehidupan manusia, khususnya pada metode pembayaran baru dalam kegiatan e-commerce, yaitu alat pembayaran virtual atau yang lazim disebut dengan mata uang virtual Bitcoin. Penulisan skripsi ini bersifat deskriptif yang merupakan penelitian yuridis normatif dan alat pengumpul datanya adalah studi dokumen yaitu dengan menganalisis peraturan perundang-undangan yang berkaitan dengan permasalahan dalam tesis ini dan analisis data adalah analisis kualitatif. Berdasarkan hasil penelitian diketahui bahwa aspek hukum mata uang virtual bitcoin sebagai alat pembayaran masih belum jelas dasar hukumnya. Akibat ketidakjelasan tersebut transaksi menggunakan bitcoin belum dapat dikatakan sah.

Liza Rosalia, Bambang Dwi Hartono

Technological developments are in line with economic developments based on digital technology. One of them is the emergence of financial technology which has now become a daily life for us, especially the millennial generation. This research was quantitative research that aimed to analyze interest in cryptocurrency invest­ment based on the influence of mil­lennial lifestyles, technological advances, and investment content on TikTok. This study used primary data with research instru­ments in the form of questionnaires and used path analysis to test the research hypothesis. The sampling method was carried out in the Arzanocrypto community with as many as 100 samples using the voluntary response sampling method, in which the samples were individuals who voluntarily took part in the research. The results of the study showed that the millennial lifestyle variable had no significant effect on interest in cryptocurrency investment, but had an effect on investment content on TikTok. The variable technological progress had a significant effect on interest in cryptocurrency investment but had no significant effect on investment content on TikTok. The investment content on TikTok had a significant effect on interest in cryptocurrency investment. Perkembangan teknologi sejalan dengan perkembangan ekonomi yang berbasis teknologi digital. Salah satunya dengan muncul financial technology yang kini sudah menjadi keseharian bagi kita terutama generasi milenial. Penelitian ini adalah penelitian kuantitatif yang bertujuan untuk menganalisis minat investasi cryptocur­rency berdasarkan pengaruh ga­ya hidup milenial, kemajuan teknologi, dan konten investasi di TikTok. Penelitian ini meng­gunakan data primer dengan instrumen penelitian berupa kuesioner dan menggunakan anali­sis jalur untuk menguji hipotesis penelitian. Metode pengambilan sampel dilakukan pada ko­mu­nitas Arzanocrypto sebanyak 100 sampel dengan metode pengambilan sampel voluntary response sampling, yang mana sampel merupakan individu yang secara sukarela menjadi bagian dalam penelitian. Hasil penelitian menunjukkan bahwa variabel gaya hidup milenial tidak berpengaruh signifikan pada minat investasi cryptocurrency, namun berpengaruh pada konten investasi di TikTok. Variabel kemajuan teknologi ber­pengaruh signifikan pada minat investasi cryptocurrency, namun tidak berpengaruh signifikan pada konten investasi di Tik­Tok. Konten investasi di TikTok berpengaruh signifikan pada minat inves­tasi cryptocurrency.

Metodius France Marjun Janggur, Trinandari Prasetyo Nugrahanti

The development of number of cryptocurrency startups around the world, including in Indonesia, is increasing every year, demanding business people to provide financial services by accepting the presence of cryptocurrency technology directly in the real world. The purpose of this study is to explore the application of the Statement of Financial Accounting Standards (PSAK) adopting International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) on cryptocurrency companies at the Indonesian National Indodax Company (Bitcoin Indonesia). This research method is descriptive qualitative with data collection methods using interview and observation techniques. The results show that the Indodax Company (Bitcoin Indonesia) uses IAS 2 inventory because the company's core business is in brokerage, which measures cryptocurrency inventory recorded at fair value after deducting costs to sell and is recognized in the income statement and reported in the Available for sale financial asset account. At the same time, the entity applies IAS 38 intangible assets in the measurement, valuation, and presentation of financial statements that refer to computer software and internet domains, not cryptocurrency assets in the form of coins and tokens. In addition, entities that measure and value cryptocurrency assets (cash and tokens) using financial instruments IFRS 9 Financial Instruments: Recognition and Measurement are calculated and recorded as financial assets at fair value through profit or loss (FVTPL).

Ariska Cesar Divian Candra Kusuma, Tunggul Anshari Setia Negara, Riana Susmayanti

The Regulation of the Minister of Finance of the Republic of Indonesia Number 68/PMK.03/2022 as the legal basis for cryptocurrency income tax does not reflect the principle of fairness because the consideration is based on the principle of ease of administration. This paper aims to provide an alternative income tax legal framework on cryptocurrency based on the principle of justice. It is expected to be a step to increase state revenue through the sector of cryptocurrency tax. This paper employs a conceptual and comparative approach to normative research. Furthermore, the researcher compares income tax regulations and policies on cryptocurrency in Indonesia and Canada with the theory of justice to obtain answers to legal problems. The Regulation of the Minister of Finance of the Republic of Indonesia Number 68/PMK.03/2022 does not reflect the principle of justice because the final tax rate does not reflect the tax burden. In addition, there are limitations on the tax collector's authority, so tax collection is not comprehensive. Therefore, this paper compares and analyses income tax regulations and policies in Indonesia and Canada to obtain several alternative forms of fair tax legal framework on cryptocurrency. Alternative cryptocurrency income tax regulation that can be accommodated by the government is to change to a progressive rate to fulfill tax fairness, change the collection system to a self-assessment and do not differentiate the source of income and also cooperate with various exchanges to exchange transaction data to prevent criminal acts.

Muhamad Pashya Islami, Aria Farah Mita

Latar Belakang: Secara global dan lokal, pertumbuhan signifikan dan penggunaan uang kripto (cryptocurrency) didukung oleh komitmen Pemerintah Indonesia, termasuk penyusunan regulasi yang komprehensif, perpajakan, dan bursa cryptocurrency. Dari sudut pandang akademis, hal ini merupakan peluang untuk mengeksplorasi implementasi akuntansi untuk cryptocurrency sebagai pelajaran bagi Indonesia. Studi kasus adalah kasus riil yang menelaah semua informasi yang tersedia untuk publik guna memahami implementasi kebijakan akuntansi untuk cryptocurrency di Galaxy Digital dan Meitu.Tujuan: Tujuan dari penelitian ini adalah untuk memberikan sudut pandang akademis dalam mengeksplorasi implementasi akuntansi cryptocurrency sebagai pembelajaran untuk Indonesia di mana cryptocurrency akan tumbuh.Metode Penelitian: penelitian ini menggunakan referensi literatur yang relevan, pedoman IFRS, IAS 2 Inventories, IAS 38 Intangible Assets, serta standar akuntansi lain yang relevan yaitu IAS 36 Impairment of Assets dan IFRS 13 Fair Value Measurements, termasuk studi KAP Big Four.Hasil Penelitian: Berdasarkan analisis, Galaxy Digital dan Meitu, menerapkan dua standar akuntansi yang berbeda untuk cryptocurrency. Penerapan standar akuntansi yang berbeda ini diharapkan dapat memberikan analisis yang lebih komprehensif dan sebagai pembelajaran bagi penerapan akuntansi cryptocurrency di Indonesia, baik dari segi literatur maupun praktis, yang kemungkinan akan muncul dalam waktu dekat.Keaslian/Kebaruan Penelitian: Penelitian ini memberiakan hasil diskusi resmi terkait pemberlakuan akuntansi untuk cryptocurrency di Indonesia yang masih jarang dilakukan.