URGENSI PENGATURAN HUKUM

CENTRAL BANK DIGITAL CURRENCY

DALAM DIMENSI ANTI PENCUCIAN UANG


‘‹•ƒƒ™ƒ–‹
ƒ—Ž–ƒ•——ǡ‹˜‡”•‹–ƒ•—”ƒ„ƒ›ƒ
e-mail:‰‘̴Ž‹•ƒƒ™ƒ–‹̷•–ƒˆˆǤ—„ƒ›ƒǤƒ…Ǥ‹†

”Ž›”‹•–‘
ƒ—Ž–ƒ•——ǡ‹˜‡”•‹–ƒ•—”ƒ„ƒ›ƒ
e-mail:˜‹…‡–Ǥ‡”Ž›̷•–ƒˆˆǤ—„ƒ›ƒǤƒ…Ǥ‹†

†‹•ƒ’ƒ‹ƒͳ͵ȀͶȀʹͲʹͳȂ†‹-review͵ͲȀͷȀʹͲʹͳȂ†‹–‡”‹ƒʹʹȀͷȀʹͲʹʹ
ǣͳͲǤʹͷͳʹ͵Ȁ˜‡ŒǤ˜ͺ‹ͳǤͶͷʹͲ

Abstract
The issue of digitalized forms of payment systems has required adjustment from a State to accomodate
and respond. One of the issues is concerning the use of virtual currencies, and Central Bank Digital
Currency. It requires the accomodative and responsive of the law instruments in Indonesia to arrange
that issue. The payment systems’ policy in Indonesia has not placed any issues of crypto/digital currency
as one of the payment methods. Central Bank Digital Currency is a the digital form of fiat money.
Through the Bank Indonesia Regulation —„‡”ͳͺȀͶͲȀȀʹͲͳ͸ concerning Operation of Payments
Transaction Processing, and Bank Indonesia Regulation Number ͳͻȀͳʹȀȀʹͲͳ͹ concerning the
Implementation of Financial Technology, it can be understood that Indonesia remain bans the use of
any virtual currency as payment instruments. Central Bank Digital Currency has different form of
virtual currencies which are not issued by the state, but it is remain called as virtual currencies. In fact,
the use of virtual currencies has been exploited by money launderer to do laundering. Virtual currencies
has no underlying asset or responsible authority or administrator, volatile, risky, and speculative. This
article is a normative legal research method that will analyzed the direction in which Indonesian Law
can headed Central Bank Digital Currency while the option has become more less for not response it.
The result of this research has showed that it is urgently need for Bank Indonesia (as a central bank in
Indonesia) to recognise Central Bank Digital Currency as payment’s instrument.

Keywords:
Payment Systems; Central Bank Digital Currency; Anti Money Laundering Regime; Legal Framework

Abstrak
‡”ƒ•ƒŽƒŠƒ ‡‰‡ƒ‹ †‹‰‹–ƒŽ‹•ƒ•‹ •‹•–‡ ’‡„ƒ›ƒ”ƒ ‡„—–—Šƒ ’‡›‡•—ƒ‹ƒ †ƒ”‹ ‡‰ƒ”ƒ
—–—‡‰ƒ‘‘†ƒ•‹†ƒ‡”‡•’‘ǤƒŽƒŠ•ƒ–—‹•—–‡”•‡„—–ƒ†ƒŽƒŠ–‡”ƒ‹–’‡‰‰—ƒƒƒ–ƒ—ƒ‰
virtual ȋƒ–ƒ —ƒ‰ digitalȀƒ–ƒ —ƒ‰ ”›’–‘Ȍ †ƒ Central Bank Digital CurrencyǤ –— ‹‹
†‹’‡”Ž—ƒ ‹•–”—‡ Š—— ›ƒ‰ ƒ‘‘†ƒ–‹ˆ †ƒ ”‡•’‘•‹ˆ —–— ‡‰ƒ–—”Ǥ ‡„‹Œƒƒ •‹•–‡
’‡„ƒ›ƒ”ƒ†‹†‘‡•‹ƒ„‡Ž—‡‡’ƒ–ƒƒ•ƒŽƒŠ—ƒ‰†‹‰‹–ƒŽ‹‹•‡„ƒ‰ƒ‹•ƒŽƒŠ•ƒ–—‡–‘†‡
’‡„ƒ›ƒ”ƒǤCentral Bank Digital Currency‡”—’ƒƒ„‡–—†‹‰‹–ƒŽ†ƒ”‹—ƒ‰‡”–ƒ•Ǥ‡ŽƒŽ—‹
‘Ǥ ͳͺȀͶͲȀȀʹͲͳ͸ –‡–ƒ‰ ‡›‡Ž‡‰‰ƒ”ƒƒ ‡”‘•‡•ƒ ”ƒ•ƒ•‹ ‡„ƒ›ƒ”ƒǡ †ƒ  ‘Ǥ
ͳͻȀͳʹȀȀʹͲͳ͹–‡–ƒ‰‡›‡Ž‡‰‰ƒ”ƒƒ‡‘Ž‘‰‹ ‹ƒ•‹ƒŽ†‹’ƒŠƒ‹„ƒŠ™ƒ’‡‰‰—ƒƒƒ–ƒ
—ƒ‰virtual•‡„ƒ‰ƒ‹ƒŽƒ–’‡„ƒ›ƒ”ƒ†‹Žƒ”ƒ‰†‹†‘‡•‹ƒǤCentral Bank Digital Currency‡‹Ž‹‹
„‡”„ƒ‰ƒ‹„‡–—ƒ–ƒ—ƒ‰”‹’–‘Ȁ†‹‰‹–ƒŽȀ˜‹”–—ƒŽ›ƒ‰–‹†ƒ†‹‡Ž—ƒ”ƒ‘Ž‡Š‡‰ƒ”ƒǡ–‡–ƒ’‹–‡–ƒ’
†‹•‡„—–•‡„ƒ‰ƒ‹ƒ–ƒ—ƒ‰˜‹”–—ƒŽȀƒ›ƒ—ƒ‰”›’–‘Ǥ‡‰‰—ƒƒƒ–ƒ—ƒ‰˜‹”–—ƒŽ–‡ŽƒŠ„ƒ›ƒ
†‹ƒˆƒƒ–ƒ‘Ž‡Š’‡…—…‹—ƒ‰—–—‡Žƒ—ƒ’‡…—…‹ƒ—ƒ‰†ƒ’‡†ƒƒƒ–‡”‘”‹•‡Ǥƒ–ƒ
—ƒ‰˜‹”–—ƒŽ–‹†ƒ‡‹Ž‹‹ƒ•‡–›ƒ‰‡†ƒ•ƒ”‹ƒ–ƒ—‘–‘”‹–ƒ•ƒ–ƒ—ƒ†‹‹•–”ƒ–‘”›ƒ‰„‡”–ƒ‰‰—‰
Œƒ™ƒ„ǡ—†ƒŠ„‡”—„ƒŠǡ„‡”‹•‹‘ǡ†ƒ•’‡—Žƒ–‹ˆǤ”–‹‡Ž‹‹‡‰‰—ƒƒ‡–‘†‡’‡‡Ž‹–‹ƒŠ——

VeJ Volume 8 • Nomor 1 • 49

‘”ƒ–‹ˆ ›ƒ‰ ƒƒ ‡‰ƒƒŽ‹•‹• ‡ ƒ”ƒŠ ƒƒ —— †‘‡•‹ƒ †ƒ’ƒ– ‡”‡•’‘ Central Bank
Digital Currencyǡ •‡‡–ƒ”ƒ ’‹Ž‹Šƒ›ƒ •‡ƒ‹ „‡”—”ƒ‰ —–— –‹†ƒ ‡”‡•’‘›ƒǤ ƒ•‹Ž †ƒ”‹
’‡‡Ž‹–‹ƒ‹‹‡—Œ—ƒ‡Šƒ”—•ƒƒ†‘‡•‹ƒ—–—•‹ƒ’†‹†ƒŽƒ‡”‡•’‘Central Bank
Digital Currency•‡„ƒ‰ƒ‹ƒŽƒ–’‡„ƒ›ƒ”ƒ†‹†‘‡•‹ƒǤ

Kata Kunci:
‹•–‡‡„ƒ›ƒ”ƒǡCentral Bank Digital CurrencyǤ‡œ‹–‹‡…—…‹ƒƒ‰ǡ‡‰ƒ–—”ƒ——


Pendahuluan
‡”‡„ƒ‰ƒ†ƒ’‡”‡†ƒ”ƒ—ƒ‰†‹‰‹–ƒŽ–‹†ƒ†ƒ’ƒ–†‹‡Žƒƒ‡‰‹‰ƒ–
’‡”–—„—Šƒ‡‘‘‹”‡ƒ–‹ˆ†‹•‡Ž—”—Š†—‹ƒǡ–‡”ƒ•—†‹†ƒŽƒ›ƒ‡›‡–—Š
’ƒ†ƒ —…—Ž›ƒ ’‡‰‰—ƒƒ Virtual Currencyǡ ›ƒ‰ †‹ †ƒŽƒ ’‡”‡„ƒ‰ƒ›ƒ
ƒ–‹ ‡›‡–—Š ’ƒ†ƒ „ƒ›ƒ ŠƒŽ ›ƒ‰ „‡”•‹ˆƒ– debatableǡ †ƒ ‡‡”Ž—ƒ
‡™ƒ•’ƒ†ƒƒ †‹ †ƒŽƒ —’ƒ›ƒ ’‡Žƒ•ƒƒƒ›ƒǤ ‡”ƒ‹– ŠƒŽ ‹‹ǡ †‹Œ‡Žƒ•ƒ
„ƒŠ•ƒ™ƒ›ƒ‡—…—Žƒ„‹•‹•„‡”„ƒ•‹•†‹‰‹–ƒŽ†ƒ–‡‘Ž‘‰‹ ˆ‹ƒ•‹ƒŽ(financial
technology) •ƒ‰ƒ–ŽƒŠ †‹’‡‰ƒ”—Š‹ ƒ”‡ƒ ’‡”‡„ƒ‰ƒ –‡‘Ž‘‰‹ †‹ „‹†ƒ‰
‘—‹ƒ•‹ †ƒ ‹ˆ‘”ƒ•‹ǡ †ƒ Œ—‰ƒ ’‡”—„ƒŠƒ ‰ƒ›ƒ Š‹†—’ ƒ•›ƒ”ƒƒ–Ǥ ƒŽ ‹‹
–‡–— •ƒŒƒ ‡„—–—Šƒ ‡Šƒ†‹”ƒ ƒŽƒ– ’‡„ƒ›ƒ”ƒ ›ƒ‰ ‡‹Ž‹‹ ‡—‰‰—Žƒ
Ž‡„‹Š–‡”ƒ‹–†‡‰ƒ‡…‡’ƒ–ƒǡ‡ƒƒƒǡ•‡”–ƒ‡ˆ‹•‹‡•‹Ǥͳ
‡Šƒ†‹”ƒ ƒŽƒ– ’‡„ƒ›ƒ”ƒ –‡”•‡„—– —…—Ž †‡‰ƒ „‡”„ƒ‰ƒ‹ ’‡ƒƒƒǡ
•‡’‡”–‹virtual currency, digital currency, digital assets, crypto currency†ƒŽƒ‹ǦŽƒ‹Ǥ
‘˜ƒ•‹ –‡”•‡„—– ’‡”Ž— †‹”‡•’‘ ‡‰‹‰ƒ– ‡„‡”ƒ†ƒƒ ƒ–ƒ —ƒ‰Ǧƒ–ƒ —ƒ‰
–‡”•‡„—–†‹•‡„—–•‡„ƒ‰ƒ‹ƒ–ƒ—ƒ‰ǡ–‡–ƒ’‹†ƒŽƒŽ‹‹–ƒ•‹’‡‰‡”–‹ƒ›ƒ‰†‹ƒ—‹
•‡…ƒ”ƒ”‡•‹‘Ž‡Š‡‰ƒ”ƒǦ‡‰ƒ”ƒ‡ŽƒŽ—‹‘–‘”‹–ƒ•‡—ƒ‰ƒ›ƒǡ•‡”–ƒ•‹ˆƒ–†ƒ”‹ƒ–ƒ
—ƒ‰ –‡”•‡„—– ›ƒ‰ „‡Ž— ‡‹Ž‹‹ ‡•ƒƒƒ ƒ”ƒ–‡”‹•–‹ •‡Š‹‰‰ƒ –‡–ƒ’
‡—…—Žƒ’‘–‡•‹†‹‡•’Ž‘‹–ƒ•‹›ƒ‘Ž‡Š’ƒ”ƒ’‡Žƒ—‡ŒƒŠƒ–ƒ–‡”ƒ•—Œ—‰ƒ
’ƒ”ƒcyber offender†ƒlaundererǤ
ƒŽƒŠ •ƒ–— ŠƒŽ ›ƒ‰ ‡Œƒ†‹ ’‡”Šƒ–‹ƒ ƒ†ƒŽƒŠ ’ƒ†ƒ ’‘Žƒ ’‡‰‰—ƒƒ ƒŽƒ–
’‡„ƒ›ƒ”ƒ †ƒŽƒ ‘–‡• •‹•–‡ ’‡„ƒ›ƒ”ƒ •—ƒ–— ‡‰ƒ”ƒ –‡”ƒ‹– †‡‰ƒ
‡Šƒ†‹”ƒƒ–ƒ—ƒ‰Ǧƒ–ƒ—ƒ‰digital–‡”•‡„—–Ǥ‡•’‘–‡”•‡„—–’‡”Ž—†‹–‡ƒƒ

ͳ ‹ƒ”ƒ ‡”•  ǣ ‡‡”ƒ’ƒ ƒ–ƒ ƒ‰ ‹‰‹–ƒŽ ƒ•‹Š ‡‡”Ž—ƒ ƒŒ‹ƒǡ †‹ƒ•‡• †ƒ”‹
Š––’•ǣȀȀ™™™Ǥ‘ŒǤ‰‘Ǥ‹†Ȁ‹†Ȁ„‡”‹–ƒǦ†ƒǦ‡‰‹ƒ–ƒȀ•‹ƒ”ƒǦ’‡”•Ȁ‘…—‡–•Ȁƒ‰‡•Ȁ‹ƒ”ƒǦ‡”•Ǧ
 Ǧ‡‡”ƒ’ƒǦƒ–ƒǦƒ‰Ǧ‹‰‹–ƒŽǦƒ•‹ŠǦ‡”Ž—Ǧ
ƒŒ‹ƒȀ‹ƒ”ƒΨʹͲ‡”•ΨʹͲ ΨʹͲ‡‡”ƒ’ƒΨʹͲƒ–ƒΨʹͲƒ‰ΨʹͲ‹‰‹–ƒŽΨʹͲƒ•‹ŠΨʹͲ
‡”Ž—ΨʹͲƒŒ‹ƒǤ’†ˆǡ’ƒ†ƒͳ͹ —Ž‹ʹͲʹͲ

VeJ Volume 8 • Nomor 1 • 50

•‡ƒŽ‹ Žƒ‰‹ †ƒŽƒ ‘–‡• ™ƒ…ƒƒ ’‡‡”ƒ’ƒ Central Bank Digital Currency
ȋ•‡ŽƒŒ—–›ƒ †‹•‡„—– •‡„ƒ‰ƒ‹ Ȍ ƒ–ƒ—’— †‹•‡„—– †‡‰ƒ Central Bank
Cryptocurrencies ȋ•‡ŽƒŒ—–›ƒ †‹•‡„—– ȌǤ Currencies –‡”•‡„—– ‡”—’ƒƒ
‹‘˜ƒ•‹†‹„‹†ƒ‰–‡‘Ž‘‰‹ˆ‹ƒ•‹ƒŽǡ›ƒ‰•‡…ƒ”ƒ‘•‡’ƒƒ‡„ƒ™ƒ’‡‰ƒ”—Š
›ƒ‰ …——’ •‹‰‹ˆ‹ƒ ’ƒ†ƒ ’‡”‡‘‘‹ƒ †ƒ •–ƒ„‹Ž‹–ƒ• •‹•–‡ ‡—ƒ‰ƒ •—ƒ–—
‡‰ƒ”ƒǤ
‡”‡„ƒ‰ƒ –‡‘Ž‘‰‹ †ƒ ‹‘˜ƒ•‹ ›ƒ‰ –‡ŽƒŠ ‡—…—Žƒ „‡”„ƒ‰ƒ‹
ƒ–ƒ—ƒ‰†‡‰ƒ’‡ƒƒƒ›ƒ‰„‡”ƒ‰ƒ•‡’‡”–‹virtual currencyǡvirtual assetsǡ
stable coinǡdigital currencyǡcrypto currenciesǡdigital assetsǡvirtual assets.‘˜ƒ•‹
’‡”‡„ƒ‰ƒ–‡‘Ž‘‰‹ˆ‹ƒ•‹ƒŽ–‡ŽƒŠ‡Œƒ†‹…ƒ”ƒƒ•—†‹ƒ†ƒ’–ƒ•‹›ƒDzƒ–ƒ
—ƒ‰Ǧƒ–ƒ —ƒ‰dz ›ƒ‰ †‹’ƒ†ƒ‰ ‘Ž‡Š ƒ•›ƒ”ƒƒ– •‡„ƒ‰ƒ‹ •‡•—ƒ–— ›ƒ‰
‡ŒƒŒ‹ƒǡ –‡–ƒ’‹ –‹†ƒ Œƒ”ƒ‰ ‡Œƒ†‹ ‡Šƒ™ƒ–‹”ƒ ‡‡”‹–ƒŠ‡ŽƒŽ—‹ „ƒ
•‡–”ƒŽ•‡„ƒ‰ƒ‹Ž‡„ƒ‰ƒ›ƒ‰Šƒ”—•‡„‡”‹ƒ’‡”Ž‹†—‰ƒ‡’ƒ†ƒƒ•›ƒ”ƒƒ–
›ƒ‰ ‡‰‰—ƒƒ Dzƒ–ƒ —ƒ‰Ǧƒ–ƒ —ƒ‰dz –‡”•‡„—–Ǥ ‘•‡’ —ƒ‰ †ƒ”‹ Dzƒ–ƒ
—ƒ‰Ȃƒ–ƒ—ƒ‰dz›ƒ‰„‡”‡†ƒ”’‡•ƒ–†ƒŽƒ„‡”„ƒ‰ƒ‹„‡–—†ƒ”—’ƒŠƒ”—•†‹—Œ‹
†‡‰ƒ—†ƒ‰Ǧ—†ƒ‰›ƒ‰‡‰ƒ–—”‡‰‡ƒ‹ ƒ–ƒ—ƒ‰–‡”•‡„—– †‹ ƒ•‹‰Ǧ
ƒ•‹‰ ‡‰ƒ”ƒǤ ƒ— †‡‹‹ƒ „‡ƒ” ƒ†ƒ›ƒ „ƒŠ™ƒ Šƒ”—• †‹Žƒ—ƒ ‡Šƒ–‹Ǧ
Šƒ–‹ƒƒ–ƒ•”‹•‹‘Ǧ”‹•‹‘›ƒ‰‡›‡”–ƒ‹›ƒǡ†ƒ‡’‡”—ƒ–†‡‰ƒ”‡œ‹DzCyber
SecuritydzǡDzData Protectiondz†ƒDzAnti Money LaunderingdzǤ
‡„‹Š Œƒ—Šǡ ’‡‰‰—ƒƒ electronic money ȋ„—ƒ †ƒŽƒ ‘–‡• —ƒ‰
‡Ž‡–”‘‹ •‡„ƒ‰ƒ‹ƒƒ †‹ƒ—‹ ‘Ž‡Š ‡‡”‹–ƒŠ †‘‡•‹ƒȌ †ƒ cryptocurrency
‡›‹•ƒƒ ’‡”ƒ•ƒŽƒŠƒ ‡‰‡ƒ‹ ‡–‡”„ƒ–ƒ•ƒǡ ›ƒ‰ ƒƒ ‡Œƒ†‹
’‡‰Šƒ„ƒ– †‹ †ƒŽƒ ‹’Ž‡‡–ƒ•‹ •‡…ƒ”ƒ worldwideǤ ”‘ †ƒ ‘–”ƒ –‹†ƒ
–‡”Š‹†ƒ”ƒǡ –‡–ƒ’‹ Œ—‰ƒ ‡‰‹‰ƒ– •‡ƒ‹ ƒ”ƒ›ƒ „‡”—…—Žƒ ‹‘˜ƒ•‹
virtual currency –‡”•‡„—–Ǥ ƒŽƒŠ •ƒ–— Šƒ„ƒ–ƒ –‡”•‡„—– ƒ†ƒŽƒŠ ’ƒ†ƒ ‡–‹ƒ†ƒƒ
’‡”ƒ ‘–‘”‹–ƒ• •‡–”ƒŽ †ƒ”‹ ’‡”„ƒƒ ƒ•‹‰Ǧƒ•‹‰ ‡‰ƒ”ƒ —–— ‡Žƒ—ƒ
‘–”‘Ž †ƒ ‹–‡”˜‡•‹Ǥ ƒ†ƒ ’‡”‡„ƒ‰ƒ›ƒ –‡ŽƒŠ †‹Žƒ—ƒ ’‡‰ƒŒ‹ƒ ƒƒ
‡—‰‹ƒ’‡‡”ƒ’ƒ †‡‰ƒ Distributed Ledger Technology(DLT)ǡ†ƒ
†‹–‡”„‹–ƒ‘Ž‡Š–‘”‹–ƒ•ƒ‡–”ƒŽǤ
ƒ†ƒ Šƒ‹ƒ–›ƒ ›ƒ‰ †‹ƒ•—† †‡‰ƒ Ȁ „‡”„‡†ƒ †‡‰ƒ
„‡”„ƒ‰ƒ‹ virtual currency ›ƒ‰ –‡ŽƒŠ „‡”‡†ƒ” •ƒƒ– ‹‹Ǥ ƒ›—”‹ Š‹”ƒ‹ †ƒŽƒ

VeJ Volume 8 • Nomor 1 • 51

Žƒ’‘”ƒ›ƒ ’ƒ†ƒ Asian Development Bank Institute ‡„‡”‹ƒ ’‡‰‡”–‹ƒ
“Central Bank Crypto Currency refers to “the liability of the balance sheets of central
banks, namely money created by a central bank to be used by fulfilling the four
functions of money...” The amount of outstanding coins issued is much smaller than
the amount of outstanding central bank notes in circulation due to smaller units..ǤdzʹǤ
•–‹ŽƒŠ  „ƒ›ƒ †‹’‡”‰—ƒƒ •‡…ƒ”ƒ „‡”’ƒ†ƒƒ †ƒ „‡”‰ƒ–‹ƒ †‡‰ƒ
Ǥ
ƒ†‘‡•‹ƒ•‡Žƒ—ƒ‡–”ƒŽ†‹†‘‡•‹ƒ’ƒ†ƒŠƒ‹ƒ–›ƒ†‹ƒ–—”†‹
†ƒŽƒ†ƒ‰Ǧ†ƒ‰ƒ•ƒ”‡‰ƒ”ƒ‡’—„Ž‹†‘‡•‹ƒƒŠ—ͳͻͶͷǡ†ƒ†‹ƒ–—”
†ƒŽƒ †ƒ‰Ǧ†ƒ‰ ›ƒ‹–— †ƒ‰Ǧ†ƒ‰ –‡–ƒ‰ ƒ †‘‡•‹ƒ ȋ›ƒ‰
•‡ŽƒŒ—–›ƒ†‹•‡„—–•‡„ƒ‰ƒ‹ƒ†‘‡•‹ƒȌǤ†ƒ‰†ƒ‰ƒ†‘‡•‹ƒ
–‡ŽƒŠ ‡‡–ƒ’ƒ ‡‰‡ƒ‹ ’‡‰‡”–‹ƒ •‹•–‡ ’‡„ƒ›ƒ”ƒ „‡”‹—– –‡ŽƒŠ
‡†‡ˆ‹‹•‹ƒ —ƒ‰ǡ •‡ƒŽ‹‰—• ‡Œ‡Žƒ•ƒ –‡–ƒ‰ –—‰ƒ• „ƒ •‡–”ƒŽǤ ƒ—
†‡‹‹ƒ „‡Ž— ‡…ƒ—’ ‡‰‡ƒ‹ ’‡”‡„ƒ‰ƒ –‡”ƒ‹– virtual currency
ƒ—’—Ǥ‡–‡–—ƒƒ•ƒŽͳƒ‰ƒ͸ƒ†‘‡•‹ƒ‡‡–—ƒǣ
Dz‹•–‡ ‡„ƒ›ƒ”ƒ ƒ†ƒŽƒŠ •—ƒ–— •‹•–‡ ›ƒ‰ ‡…ƒ—’ •‡’‡”ƒ‰ƒ–
ƒ–—”ƒǡ Ž‡„ƒ‰ƒǡ †ƒ ‡ƒ‹•‡ǡ ›ƒ‰ †‹‰—ƒƒ —–— ‡Žƒ•ƒƒƒ
’‡‹†ƒŠƒ†ƒƒ‰—ƒ‡‡—Š‹•—ƒ–—‡™ƒŒ‹„ƒ›ƒ‰–‹„—Ž†ƒ”‹•—ƒ–—
‡‰‹ƒ–ƒ‡‘‘‹dzǤ

‡”†ƒ•ƒ”ƒ‡–‡–—ƒ–‡”•‡„—–ǡ‡Ž‡‡†ƒŽƒ•‹•–‡’‡„ƒ›ƒ”ƒ‡Ž‹’—–‹ǣ
- —ƒ–—•‹•–‡Ǣ
- ‡…ƒ—’•‡’‡”ƒ‰ƒ–ƒ–—”ƒǡŽ‡„ƒ‰ƒǡ†ƒ‡ƒ‹•‡Ǣ
- ‹‰—ƒƒ—–—‡Žƒ•ƒƒƒ’‡‹†ƒŠƒ†ƒƒǢ
-
—ƒ‡‡—Š‹•—ƒ–—‡™ƒŒ‹„ƒ›ƒ‰–‹„—Ž†ƒ”‹•—ƒ–—‡‰‹ƒ–ƒ‡‘‘‹Ǥ
‹•—”•—•–‡”ƒ‹–cryptocurrencies ƒ•‹Šdebatableǡ•‡ƒŽ‹‰—•„‡”ƒ”–‹„ƒŠ™ƒ
‡•‹•–‡•‹ Central Bank Digital Currency Šƒ”—•‡Œƒ†‹ ƒŒ‹ƒ‡†ƒŽƒǤ ‡”‹ŠƒŽ
–‡”•‡„—–ǡ ƒ †‘‡•‹ƒ •‡†ƒ‰ ‡Žƒ—ƒ ’‡‰ƒŒ‹ƒ ƒ–ƒ• †ƒ’ƒ „ƒ‹ †ƒ
†ƒ’ƒ„—”—„‹Žƒcentral bank crypto currencies †‹–‡”ƒ’ƒǤ3
‡—Ž‹•ƒ ‹‹ ‡”—’ƒƒ Šƒ•‹Ž ’‡‡Ž‹–‹ƒ Š—— ›ƒ‰ †‹Žƒ—ƒ †‡‰ƒ

ʹ ƒ›—”‹Š‹”ƒ‹ǡMoney and Central Bank Digital CurrencyǤ‘”‹‰ƒ’‡”‡”‹‡•Ǥǡ ƒ’ƒǡ

ʹͲͳͻǡŠŽǤʹ
͵ ‹ƒ•‡•†ƒ”‹Š––’•ǣȀȀ‡…‘‘›Ǥ‘‡œ‘‡Ǥ…‘ǡ†‹ƒ•‡•–ƒ‰‰ƒŽ͸‰—•–—•ʹͲͳͻ

VeJ Volume 8 • Nomor 1 • 52

‡‰‰—ƒƒ ‡–‘†‡ ’‡‡Ž‹–‹ƒ Š—— ‘”ƒ–‹ˆǡ †‡‰ƒ ‡‰‰—ƒƒ
’‡†‡ƒ–ƒ ‘•‡’–—ƒŽ (conseptual approach)ǡ ’‡†‡ƒ–ƒ ’‡”—†ƒ‰Ǧ—†ƒ‰ƒ
(statute approach), †ƒ ‡„‡”‹ƒ ’‡†‡ƒ–ƒ ’‡”„ƒ†‹‰ƒ (comparative
approach)–‡”ƒ‹–†‡‰ƒ’‡”ƒ•ƒŽƒŠƒ›ƒ‰†‹„ƒŠƒ•ǡ›ƒ‹–—–‡”ƒ‹–†‡‰ƒ•‹•–‡
†ƒ‹•–”—‡’‡„ƒ›ƒ”ƒǡˆ—‰•‹•‡–”ƒŽ„ƒǡ–‹†ƒ’‹†ƒƒ’‡…—…‹ƒ—ƒ‰ǡ†ƒ
ƒ–ƒ —ƒ‰ virtualǤ ‡”ƒ‹– †‡‰ƒ ŠƒŽ ‹‹ǡ —Ž‹•–‹›‘™ƒ–‹ ”‹ƒ–‘ †ƒ Š‹†ƒ”–ƒ
‡Œ‡Žƒ•ƒ „ƒŠ™ƒ Dz‡‰Šƒ†‹”ƒ ’‡ƒŠƒƒ ‡–‘†‘Ž‘‰‹• ›ƒ‰ ‘’Ž‡•
•‡’—–ƒ” ’‡‡Ž‹–‹ƒ Š—— ‡”—’ƒƒ —’ƒ›ƒ ›ƒ‰ •ƒ‰ƒ– ˜‹–ƒŽ †ƒŽƒ †‹•—”•—•
‹Ž‹ƒŠ†‹ƒŽƒ‰ƒ‘—‹–ƒ•†‹•‹’Ž‹Š——Ǥ‡‹‰‹ƒ—–—‡›‡”ƒ’Š——
›ƒ‰Š‹†—’ (living law)ƒ–ƒ—‡„—–—Šƒ—–—‡‰”‹–‹•‹’‡”ƒ–—”ƒ’‡”—†ƒ‰Ǧ
—†ƒ‰ƒǡ ‹•ƒŽ›ƒǡ –‹†ƒ —‰‹ „‡”ŒƒŽƒ ƒ’ƒ„‹Žƒ ’‡‡Ž‹–‹ƒ †ƒ ’‡ƒŽƒ”ƒ
Š——†‹’‡”Žƒ—ƒ•‡‡†ƒ”‡‰‹—–‹•‹•–‡Ž‘‰‹ƒ–‡”–—–—’dzǤͶŽ‡Šƒ”‡ƒ›ƒ
Šƒ•‹Ž ›ƒ‰ –‡ŽƒŠ †‹†ƒ’ƒ–ƒ ‡ŽƒŽ—‹ •–—†‹ ‡’—•–ƒƒƒǡ †‹Žƒ—ƒ Œ—‰ƒ †‡‰ƒ
‡Žƒ—ƒ Žƒ”‹ˆ‹ƒ•‹ǡ ›ƒ‹–— †‡‰ƒ ‡Žƒ—ƒ ™ƒ™ƒ…ƒ”ƒ †‡‰ƒ focal point
institutionǡ•‡’‡”–‹—•ƒ–‡Žƒ’‘”ƒ†ƒƒŽ‹•‹•”ƒ•ƒ•‹‡—ƒ‰ƒȋȌƒ–ƒ•
‡„—–—Šƒ’‡‰ƒ–—”ƒ†‡‹’‡…‡‰ƒŠƒ†ƒ’‡„‡”ƒ–ƒ•ƒ–‹†ƒ’‹†ƒƒ
’‡…—…‹ƒ—ƒ‰Ǥ
‡—Ž‹•ƒ ‹‹ Š‡†ƒ ‡‰ƒƒŽ‹•‹• —”‰‡•‹ ’‡‰ƒ–—”ƒ Š—— –‡”ƒ‹–
†‡‰ƒ†‹†‘‡•‹ƒǡ–‡”Ž‡„‹Š†‹–‹Œƒ—†ƒ”‹•—†—–ƒ–‹’‡…—…‹ƒ—ƒ‰Ǥ ƒ†ƒ
•—†—– ‹‹ǡ ’‡”‡„ƒ‰ƒ –‡‘Ž‘‰‹ †ƒ ‹‘˜ƒ•‹›ƒ Šƒ”—• •‡ŽƒŽ— †‹Žƒ—ƒ
•‹”‘‹•ƒ•‹ǡ Šƒ”‘‹•ƒ•‹ǡ •‡”–ƒ „‡”‹–‡‰”ƒ•‹ †‡‰ƒ „‡”„ƒ‰ƒ‹ ‡„‹Œƒƒ †ƒ
’ƒ›—‰Š——›ƒ‰„‡”Žƒ—Ǥ‡‰ƒ–—”ƒ‹‹ƒ’ƒ„‹Žƒ†‹•‹‡”‰‹ƒ†‡‰ƒ’‡”ƒ–—”ƒ
Š—— Žƒ‹›ƒǡ Š—•—•›ƒ †ƒŽƒ ŠƒŽ ‹‹ ƒ†ƒŽƒŠ ’‡‰ƒ–—”ƒ ƒ–‹ ’‡…—…‹ƒ —ƒ‰
†ƒ’‡‰—ƒ–ƒ”‡œ‹ƒ–‹’‡…—…‹ƒ—ƒ‰Ǥ†ƒ‰Ǧ—†ƒ‰–‡”ƒ‹–’‡…—…‹ƒ—ƒ‰
†‹‘’‡”ƒ•‹‘ƒŽ‹•ƒ•‹ƒ —–— ’‡‰ƒ–—”ƒ ›ƒ‰ Ž‡„‹Š —— ›ƒ‰ ‡‰ƒ…ƒ
•–ƒ„‹Ž‹–ƒ• ’‡”‡‘‘‹ƒ ‡‰ƒ”ƒ †ƒ ‹–‡‰”‹–ƒ• •‹•–‡ ‡—ƒ‰ƒǡ †‡‰ƒ ƒ’ƒ’—
‡•‹•–‡•‹›ƒ ƒ’ƒƒŠ „‡”—’ƒ fiat currenciesǡ virtual assetsǡ ƒ–ƒ—’— ’‡ƒƒƒ

Ͷ —Ž‹•–‹›‘™ƒ–‹ ”‹ƒ–‘ Ƭ Š‹†ƒ”–ƒ ȋ‡†Ȍǡ ‡–‘†‡ ‡‡Ž‹–‹ƒ —— ‘•–ƒŽƒ•‹ †ƒ ‡ˆŽ‡•‹ǡ
ƒ›ƒ•ƒ„‘”†‘‡•‹ƒǡ ƒƒ”–ƒǡʹͲͲͻǡŠŽǤš‹‹‹

VeJ Volume 8 • Nomor 1 • 53

Žƒ‹›ƒǤ ‡”†ƒ•ƒ”ƒ •—†—– ’ƒ†ƒ‰ ƒ–‹ ’‡…—…‹ƒ —ƒ‰ǡ “the future assets atau
currencies”‹‹–‡ŽƒŠ‡Œƒ†‹emerging threat›ƒ‰Šƒ”—••‡‰‡”ƒ†‹ƒ–‹•‹’ƒ•‹Ǥ

Pembahasan
Digital Currency dan/atau Cryptocurrencies Sebagai Mata Uang
‡›‡„—–ƒ cryptocurrencies ƒ–ƒ— virtual currency ƒ–ƒ— digital currency
•‡„ƒ‰ƒ‹ ƒ–ƒ —ƒ‰ ‡‡”Ž—ƒ ’‡‰ƒŒ‹ƒ ›ƒ‰ ‡†ƒŽƒǡ ‡‰‹‰ƒ– ”‹–‡”‹ƒ
—ƒ‰ Šƒ”—•ŽƒŠ †‹’‡—Š‹Ǥ ‡„‡”ƒ’ƒ ‡‰ƒ”ƒ •—†ƒŠ ‡‰ƒ–—” ‡‰‡ƒ‹ crypto
currency †ƒ Œ—‰ƒ ‡„‡–— regulation technology (RegTech) –‡”ƒ‹– †‡‰ƒ
‡„—–—Šƒ –‡”•‡„—–Ǥ ‡‰—Žƒ•‹ †‘‡•‹ƒ ›ƒ‰ †‹‡Ž—ƒ”ƒ ‘Ž‡Š ƒ†ƒ ‡‰ƒ™ƒ•
‡”†ƒ‰ƒ‰ƒ ‡”Œƒ‰ƒ ‘‘†‹–‹ ȋ•‡ŽƒŒ—–›ƒ †‹•‡„—– Ȍ Œ—‰ƒ
‡ƒ•—ƒBitcoin †ƒcypto currency •‡„ƒ‰ƒ‹ƒ•‡–Ǥ
‘ǤʹͲȀ͸ȀȀʹͲͳͺ‡‡‰ƒ•ƒ„ƒŠ™ƒ—ƒ‰‡Ž‡–”‘‹Šƒ”—•‡‹Ž‹‹
—•—”Ǧ—•—”ǣ ƒǤ †‹–‡”„‹–ƒ ƒ–ƒ• †ƒ•ƒ” ‹Žƒ‹ —ƒ‰ ›ƒ‰ †‹•‡–‘” –‡”Ž‡„‹Š †ƒŠ—Ž—
‡’ƒ†ƒ’‡‡”„‹–Ǣ„Ǥ‹Žƒ‹—ƒ‰†‹•‹’ƒ•‡…ƒ”ƒ‡Ž‡–”‘‹†ƒŽƒ•—ƒ–—‡†‹ƒ•‡”˜‡”
ƒ–ƒ—…Š‹’Ǣ†ƒ…Ǥ‹Žƒ‹—ƒ‰‡Ž‡–”‘‹›ƒ‰†‹‡Ž‘Žƒ‘Ž‡Š’‡‡”„‹–„—ƒ‡”—’ƒƒ
•‹’ƒƒ•‡„ƒ‰ƒ‹ƒƒ†‹ƒ•—††ƒŽƒ†ƒ‰Ǧ†ƒ‰›ƒ‰‡‰ƒ–—”‡‰‡ƒ‹
’‡”„ƒƒǤ ‡”ƒ‹– Taxonomy ƒ‰ ȋTaxonomy of moneyȌ ’ƒ†ƒ Šƒ‹ƒ–›ƒ
†‹†ƒ•ƒ”ƒ’ƒ†ƒƒ–ƒ—…‹ǣȋ‹ȌǤIssuer (central bank or other)Ǣȋ‹‹ȌǤForm (electronic
or physical)Ǣȋ‹‹‹ȌǤAccessibility (universal or limited)Ǣand (iv). Transfer mechanism
(centralised or decentralised)5
‡‡’ƒ– ƒ–ƒ —…‹ –‡”•‡„—– Šƒ”—•ŽƒŠ ƒ’— †‹‡Žƒ„‘”ƒ•‹ƒ —–—
‡Œƒ™ƒ„ ƒ’ƒƒŠ †ƒ’ƒ– ƒ–ƒ —ƒ‰ †‹‰‹–ƒŽ –‡”•‡„—– †‹ƒ–‡‰‘”‹•ƒ•‹ƒ •‡„ƒ‰ƒ‹
•‡„ƒ‰ƒ‹ ƒ–ƒ —ƒ‰ ȋcurrencyȌ ƒ–ƒ—ƒŠ –‹†ƒǤ Crypto currency †‡‰ƒ „‡”„ƒ‰ƒ‹
˜ƒ”‹ƒƒƒ›ƒ„‡Ž—ŽƒŠ†ƒ’ƒ–†‹ƒ–‡‰‘”‹ƒ•‡„ƒ‰ƒ‹ƒ–ƒ—ƒ‰ǡ†‡‹‹ƒ’—Žƒ
‡—”—– †‘‡•‹ƒǤ •‹•–‡•‹ crypto currency –‡ŽƒŠ †‹–‡”‹ƒ „ƒ›ƒ ‘Ž‡Š
ƒ•›ƒ”ƒƒ–ǡ –‡–ƒ’‹ „‡Ž— †ƒ’ƒ– †‹›ƒ–ƒƒ •‡„ƒ‰ƒ‹ ‡•‡Ž—”—Šƒ ƒ•›ƒ”ƒƒ–Ǥ
‹•‹‘Ǧ”‹•‹‘ ›ƒ‰ ƒ•‹Š †‹›ƒ‹‹ „‡Ž— –‡”•‡Ž‡•ƒ‹ƒ ƒ†ƒŽƒŠ ’ƒ†ƒ ’‘–‡•‹

ͷ Š”‹•–‹ƒƒ”‘–‹‹ƒ†‡”›‘Ž†‡ǡNo Proceeding with Caution – A survey on Central Bank
Digital Currency: Monetary and Economic Departmentǡƒˆ‘”–‡”ƒ–‹‘ƒŽ‡”––Ž‡‡–ǡ
ƒ’‡”•ǡʹͲͳͻǡŠŽǤͳ

VeJ Volume 8 • Nomor 1 • 54

‡•’Ž‘‹–ƒ•‹ ‘Ž‡Š launderer †ƒȀŒ—‰ƒ ’‡Žƒ— ‡ŒƒŠƒ–ƒ •‹„‡”ǡ •‡ƒŽ‹‰—• Œ—‰ƒ ‹Žƒ‹
ˆŽ—–—ƒ–‹ˆ›ƒ‰„‡Ž—†ƒ’ƒ–†‹‹–‡”˜‡•‹‘Ž‡Š‡‰ƒ”ƒǤ
‡‰‰—ƒƒ ‹•–‹ŽƒŠ Digital Currency †‹ƒƒƒ ’—Žƒ —ƒ‰ virtualǤ ƒ
†‘‡•‹ƒ ’ƒ†ƒ •‹ƒ”ƒ ’‡”• ‡‹Ž‹Š ‡‰‰—ƒƒ ‹•–‹ŽƒŠ Digital Currency ›ƒ‰
‡”—Œ— ’ƒ†ƒ virtual currencyǡ ›ƒ‰ †‹†‡ˆ‹‹•‹ƒ •‡„ƒ‰ƒ‹ Dz—ƒ‰ †‹‰‹–ƒŽ ›ƒ‰
†‹–‡”„‹–ƒ ‘Ž‡Š ’‹Šƒ •‡Žƒ‹ ‘–‘”‹–ƒ• ‘‡–‡” ›ƒ‰ †‹’‡”‘Ž‡Š †‡‰ƒ …ƒ”ƒ
’‡„‡Ž‹ƒǡ –”ƒ•ˆ‡” ’‡„‡”‹ƒ (reward)ǡ ƒ–ƒ— mining ȋ’”‘•‡• ‡‰Šƒ•‹Žƒ
•‡Œ—ŽƒŠvirtual currency„ƒ”—ǡ‡Ž‹„ƒ–ƒ’”‘•‡•ƒ–‡ƒ–‹ƒ›ƒ‰”—‹–ȌǤƒ‰
†‹‰‹–ƒŽ‹‹†‹‡Ž—ƒ”ƒȀ†‹‘–”‘Ž‘Ž‡Š‘—‹–ƒ•’‡‰‡„ƒ‰•‡”–ƒ†‹‰—ƒƒ†ƒ
†‹–‡”‹ƒ‘Ž‡Šƒ‰‰‘–ƒ‘—‹–ƒ•virtualdzǤ‡‰ƒ†‡‹‹ƒ›ƒ‰†‹ƒ”–‹ƒ•‡„ƒ‰ƒ‹
virtual currency‹‹‡‹Ž‹‹ƒ”ƒ–‡”‹•–‹cryptocurrenciesƒ”‡ƒ†‹‡Ž—ƒ”ƒƒ–ƒ—
†‹‘–”‘Ž‘Ž‡Š‘—‹–ƒ•ǡƒ–ƒ—•‡Žƒ‹‘–‘”‹–ƒ•‘‡–‡”Ǥ
‡‰‡ƒ‹Digital Currencies‹‹†‹Œ‡Žƒ•ƒ•‡„ƒ‰ƒ‹„‡”‹—–ǣ
Digital curriencies are money used on the internet. Digital money exists ony in
the digital form. It doesn’t have any physical equivalent in the real world.
Nevertheless, it has all the characteristics of traditional money. Just as classic
fiat money, you can obtain, transfer or exchange it for another currency. You
can use it to pay for the goods and services, such as mobile and internet
communication, online stores and others. Digital currencies don’t have
geographical or political borders; transactions might be sent from any place
and received an any point in the world...͸

Digital currencies‹‹–‹†ƒ‡‹Ž‹‹‡—‹˜ƒŽ‡•‹†‡‰ƒ„‡–—ˆ‹•‹—ƒ‰›ƒ‰ƒ†ƒ
†‹ †—‹ƒ ›ƒ–ƒǡ ƒ— —ƒ‰ †‹‰‹–ƒŽ ‹‹ †ƒ’ƒ– †‹’‡”‰—ƒƒ —–— ‡„ƒ›ƒ”
’‡„‡Ž‹ƒ„ƒ”ƒ‰ †ƒ Œƒ•ƒǤ Digital currencies†‹ •‹‹ ‡‹Ž‹‹ ƒ”ƒ–‡”‹•–‹ —ƒ‰
–”ƒ†‹•‹‘ƒŽǡ•‡’‡”–‹classic fiat moneyǤ
‡”ƒ‹– †‡‰ƒ ”‹•‹‘ ’‡…—…‹ƒ —ƒ‰ǡ †‹Œ‡Žƒ•ƒ ‡–‡”ƒ‹–ƒ digital
currencies †‡‰ƒ’‡…—…‹ƒ—ƒ‰•‡„ƒ‰ƒ‹„‡”‹—–ǣ
“One aspect of cryptocurrencies that is of concern is its ability to be used for
money laundering and other nefarious purposes. The anonymity associated
with cryptocurrencies allows it to be used as a medium of exchange for
criminal organizations and sanctioned governments. The blockchain which

͸ Š––’•ǣȀȀ…‘‹–‡Ž‡‰”ƒ’ŠǤ…‘ǡ†‹ƒ•‡•’ƒ†ƒ–ƒ‰‰ƒŽʹͳ‘˜‡„‡”ʹͲʹͲ

VeJ Volume 8 • Nomor 1 • 55

 underlie cryptocurrencies often do not store personal data, so they offer no way
to identity the individual or organization associate with it”7Ǥ

‡”‡–ƒƒ money laundering †ƒŽƒ digital currency ƒ†ƒŽƒŠ ’ƒ†ƒ
anonymityǡ †ƒ ŠƒŽ –‡”•‡„—– †‹’‡”‰—ƒƒ —–— ‡Žƒ—ƒ ’‡…—…‹ƒ —ƒ‰ͺǤ
‡„‹ŠŽƒŒ—–“generates crime (theft) and counterfeiting, and is also the main vehicle
for money laundering, tax evasion and terrorist financingdzͻ‡‰ƒ†‡‹‹ƒ•ƒŽƒŠ
•ƒ–—›ƒ‰‡„ƒ™ƒ‡†ƒŽƒ’ƒ†ƒƒ•ƒŽƒŠƒ–ƒ—ƒ‰†‹‰‹–ƒŽ‹‹ƒ†ƒŽƒŠ‡”‡–ƒƒ
ƒƒ’‡…—…‹ƒ—ƒ‰Ǥ
’‘ŽŽ‹‡ Žƒ†‹ † ‡’—„Ž‹ƒ•‹ƒ „‡„‡”ƒ’ƒ ’‡‡Ž‹–‹ƒ ›ƒ‰
‡Œ‡Žƒ•ƒ ‡‰‡ƒ‹ „‡”„ƒ‰ƒ‹ ŠƒŽ ›ƒ‰ –‡”ƒ‹– †‡‰ƒ RegTech †ƒ Crypto
currenciesǤ ƒ†ƒ Žƒ’‘”ƒ Šƒ•‹Ž ’‡‡Ž‹–‹ƒ ›ƒ‰ „‡”Œ—†—Žǣ The Global Crypto Asset
Regulatory Landscape Studyǡ†‹Žƒ’‘”ƒ„ƒŠ™ƒǣ
“The fundamentally new characteristic of native-digital crypto assets lies in
the incentive role that the token plays in a particular network: namely, if the
token were to be stripped away, would the network still function properly?
Such token may require distinct regulation compared to traditional assets”10Ǥ

‡‰ƒ†‡‹‹ƒcryptocurrencies ›ƒ‰†‹ƒƒƒ•‡„ƒ‰ƒ‹•—ƒ–—tokenƒ–ƒ—ƒ•‡–
Œ—‰ƒ †ƒ’ƒ– †‹’‡”‰—ƒƒ •‡„ƒ‰ƒ‹ ƒŽƒ– ’‡„ƒ›ƒ”ƒ ƒ–ƒ— ƒŽƒ– –—ƒ”ǡ token ›ƒ‰
‡‹Ž‹‹ ˆ—‰•‹ǡ •‡”–ƒ ‹•–”—‡ ‹˜‡•–ƒ•‹Ǥ ƒŽ –‡”•‡„—– Šƒ”—• †‹‹—–‹ †‡‰ƒ
Žƒ‰ƒŠ Š—— „‡”—’ƒ ’”‘•‡• Ž‡‰‹•Žƒ•‹ ›ƒ‰ †‹’‡”Ž—ƒǤ ‡”ƒ‹– †‡‰ƒ ’”‘•‡•
Ž‡‰‹•Žƒ•‹ǡ†‹Œ‡Žƒ•ƒ•‡„ƒ‰ƒ‹„‡”‹—–ǣ
“Some legislative attention is needed for a rational and consistent treatment
of visual objects in the future. Generally, until a closer examination of their

͹ Andrew Tarpey, The Money Laundering Risk of Cryptocurrencies, Article, diakses dari
www.southpacgroup.com,’ƒ†ƒ–ƒ‰‰ƒŽͶ‰—•–—•ʹͲͳͻǡŠŽǤʹ
ͺ ‘„„›‘—„‡ƒ†Ž‡šƒ†‡”›‡”•ǡCryptocurrencies and Blockchain: Legal Context and
implication for financial crime, money laundering and tax evasionǡ—”‘’‡ƒƒ”Ž‹ƒ‡–ǡʹͲͳͺǡ
’Ǥͳͳǡ†‹ƒ•‡•†ƒ”‹
Š––’•ǣȀȀ™™™Ǥ‡—”‘’ƒ”ŽǤ‡—”‘’ƒǤ‡—Ȁ…•†ƒ–ƒȀͳͷͲ͹͸ͳȀ͵ΨʹͲ–—†›ΨʹͲ‘ΨʹͲ…”›’–‘…—””‡
…‹‡•ΨʹͲƒ†ΨʹͲ„Ž‘……Šƒ‹Ǥ’†ˆ
ͻ žÓ‡œŽ‘•‘ǡǤǤǢ ‘”‰‡Ǧƒœ“—‡œǡ ǤǢ‡‹‡” ‘””ƒ†‡ŽŽƒ•ǡǤ ǤǡCentral Banks Digital Currency:
Detection of Optimal Countries for the Implementation of a CBDC and the Implication for
Payment IndustryOpen InnovationǤ Ǥ’‡‘˜Ǥ‡…Š‘ŽǤƒ”Ǥ‘’Ž‡šǤʹͲʹͳǡ͹ǡ
͹ʹǤŠ––’•ǣȀȀ†‘‹Ǥ‘”‰ȀͳͲǤ͵͵ͻͲȀŒ‘‹–…͹ͲͳͲͲ͹ʹ
ͳͲ Apolline Blandin, et.al, The Global Crypto Asset Regulatory Landscape Study, The University of

Cambridge: Judge Business Law, LondonǡʹͲͳͻǡŠŽǤͳ͹

VeJ Volume 8 • Nomor 1 • 56

 property status by lawyer, court and legislatures, crypto assets will remain in
a grey area within property law”11

ƒ‹ƒ ‹‡‰Ž‡” † ‡Œ‡Žƒ•ƒ „ƒŠ™ƒ ‡‰ƒ”ƒǦ‡‰ƒ”ƒ ›ƒ‰ •—†ƒŠ ‡Žƒ•ƒƒƒ
‡—Œ—ƒ „ƒŠ™ƒ existing regulatory-frameworks –‡ŽƒŠ ‡†‘”‘‰ ‡‰ƒ”ƒǦ
‡‰ƒ”ƒ —–— ‡—Œ— Ž‡˜‡Ž Ž‡„‹Š –‹‰‰‹ †ƒŽƒ ‡Žƒ—ƒ ’‡‡–”ƒ•‹ ƒŽ–‡”ƒ–‹ˆ
‡—ƒ‰ƒ †ƒŽƒ Ž‡˜‡Ž ƒ•‹‘ƒŽͳʹǤ ‡ŽƒŒ—–›ƒ ”‹ƒ Šƒ‰ † †ƒŽƒ Žƒ’‘”ƒ
’‡‡Ž‹–‹ƒ›ƒ ‡Œ‡Žƒ•ƒ ‡‰‡ƒ‹ Regulation Technology ȋ†‹•‡„—– •‡„ƒ‰ƒ‹
RegTech)Ǥ ƒ‰ †‹ƒ•—† †‡‰ƒ “RegTech is an increasingly important tool for
regulators to consider as they innovate and promote financial inclusion”Ǥͳ͵ ƒ†ƒ
Šƒ‹ƒ–›ƒ RegTech ‡”—’ƒƒ •‡—ƒ –‡‘Ž‘‰‹ ›ƒ‰ †‹‰—ƒƒ —–— –—Œ—ƒ
‡‰ƒ–—”ǡ„ƒ‹†‹„—ƒ–‘Ž‡Š”‡‰—Žƒ–‘”ǡƒ—’—‡‰ƒ–—”•‡„—ƒŠ‹•–‹–—•‹ǤRegTech
‡…‹’–ƒƒ ’‡Ž—ƒ‰Ǧ’‡Ž—ƒ‰ —–— …ƒ”ƒ „ƒ”— ‡”‡‰—Žƒ•‹ƒ •‡–‘” ‡—ƒ‰ƒ
’ƒ†ƒ ‡”ƒ digitalǤƒŽ –‡”•‡„—– ’ƒ†ƒ Šƒ‹ƒ–›ƒ †‹†ƒ•ƒ”ƒ ’ƒ†ƒ ƒ†ƒ›ƒ –—–—–ƒ
ƒƒ ’‡”—„ƒŠƒ ›ƒ‰ ‰Ž‘„ƒŽ †‹ †—‹ƒ •‹•–‡ ’‡„ƒ›ƒ”ƒǤ –— ‹–—ǡ Š”‹•–‹ƒ
ƒ”‘–‹‹ †ƒ ‡”› ‘Ž†‡ ‡‰‹‰ƒ–ƒ ‡‰‡ƒ‹ ’‡”—„ƒŠƒ †ƒŽƒ †—‹ƒ
’‡„ƒ›ƒ”ƒ •ƒƒ– ‹‹ ‡‰ƒŽƒ‹ ’‡”—„ƒŠƒ ›ƒ‰ •ƒ‰ƒ– …‡’ƒ–Ǥ ‡‰‰—ƒ
‡‰Š‡†ƒ‹ ‡…‡’ƒ–ƒ †ƒ ‡—†ƒŠƒ †‹ †ƒŽƒ ŠƒŽ ’‡„ƒ›ƒ”ƒǡ ›ƒ‰ †ƒ’ƒ–
†‹Žƒ—ƒ†‹ƒƒ•ƒŒƒ†ƒƒ’ƒ•ƒŒƒǤ‡„—–—Šƒ•‹‰‹ˆ‹ƒ›ƒ‰†‹’‹‹”ƒ‘Ž‡Š
‡‰ƒ”ƒǦ‡‰ƒ”ƒ —–— ‡‰‰ƒ–‹ƒ •‹•–‡ „ƒ •‡–”ƒŽ ‘˜‡•‹‘ƒŽ ‡Œƒ†‹
digital bank crypto currencyǡ›ƒ‰–‡–—•ƒŒƒƒƒ‡‰‰ƒ–‹ƒ—ƒ‰‘˜‡•‹‘ƒŽ
†‡‰ƒcrypto currencyǤͳͶ‡”†ƒ•ƒ”ƒ’‡Œ‡Žƒ•ƒǦ’‡Œ‡Žƒ•ƒ†‹ƒ–ƒ•ǡ‡„‹Œƒƒ†‹
„‹†ƒ‰‘‡–‡”†‹’‡”Ž—ƒƒ†ƒ’–ƒ•‹ǡƒ†‘’•‹ǡ†ƒ”‡•’‘•‹˜‹–ƒ•Ǥ‡”ƒ•ƒŽƒŠƒ›ƒ‰
Šƒ”—•†‹•‡Ž‡•ƒ‹ƒ’—Žƒƒ†ƒŽƒŠ„ƒ‰ƒ‹ƒƒ‘•‡’currencies–‡”•‡„—–…‘…‘†‡‰ƒ
‘•‡’†‹†ƒŽƒ—†ƒ‰Ǧ—†ƒ‰›ƒ‰•—†ƒŠ‡‰ƒ–—”›ƒǤ
ƒ†‘‡•‹ƒ†ƒŽƒ•‹ƒ’›ƒ‡Žƒ”ƒ‰’‡‰‰—ƒƒvirtual currencyȋ„ƒ‹
†ƒŽƒƒƒdigital currencyƒ—’—cryptocurrenciesȌǡ†‹ƒ”‡ƒƒ”‹•‹‘ƒ–ƒ—

ͳͳ †ǡŠŽǤʹ͵
ͳʹ Tania Ziegler, et.al., Shifting Paradigms: The 4th European Alternative Finance Benchmarking
Report. The University of Cambrigde: Judge Business Law, LondonǡʹͲͳͻǡŠŽͷ͸
ͳ͵ Bryan Zhang, et.al., Early Lessons on Regulatory Innovation to Enable Inclusive Fintech. The

University of Cambridge: Judge Business Law, LondonǡʹͲͳͻǡŠŽǤ͵͵

ͳͶ —’”ƒ‘ͷǡŠŽͳ

VeJ Volume 8 • Nomor 1 • 57

•‹•‹‡‰ƒ–‹ˆ†ƒ”‹virtual currency‹–—•‡†‹”‹Ǥ‹Œ‡Žƒ•ƒ‘Ž‡Šƒ†‘‡•‹ƒǡ”‹•‹‘
ƒ–ƒ—•‹•‹‡‰ƒ–‹ˆ–‡”•‡„—–ƒ†ƒŽƒŠǣ
ƒǤ ‹Žƒ‹ –—ƒ”›ƒ •ƒ‰ƒ– ˆŽ—–—ƒ–‹ˆǡ ‡ƒ‹ƒ •ƒ‰ƒ– –‹†ƒ ™ƒŒƒ” •‡Š‹‰‰ƒ
”‡–ƒ –‡”Šƒ†ƒ’ ”‹•‹‘ ’‡‰‡Ž‡„—‰ƒ ȋbubbleȌ •‡Š‹‰‰ƒ „‡”’‘–‡•‹
‡”—‰‹ƒƒ•›ƒ”ƒƒ–Ǥ
„Ǥ ‡‘Ž‘‰‹ ›ƒ‰ †‹‰—ƒƒ †ƒŽƒ virtual currency ‡—‰‹ƒ
–”ƒ•ƒ•‹ •‡…ƒ”ƒ pseudonymous •‡Š‹‰‰ƒ „‡”’‘–‡•‹ —–— †‹‰—ƒƒ
†ƒŽƒ–‹†ƒ’‹†ƒƒ’‡…—…‹ƒ—ƒ‰†ƒ’‡†ƒƒƒ–‡”‘”‹•‡Ǥ
…Ǥ ‹Šƒ ›ƒ‰ ‡ˆƒ•‹Ž‹–ƒ•‹ ƒ•›ƒ”ƒƒ– †ƒŽƒ ’‡”†ƒ‰ƒ‰ƒ virtual
currencyȋ’‡›‡†‹ƒwallet†ƒexchangeȌ”‡–ƒ–‡”Šƒ†ƒ’•‡”ƒ‰ƒ•‹„‡”
†ƒ ‹‹ ’‡‰ƒ™ƒ•ƒ •‡Š‹‰‰ƒ –‹‰ƒ– ’‡”Ž‹†—‰ƒ ‘•—‡
”‡†ƒŠǤͳͷ

‡‡–‡”‹ƒ ‡—ƒ‰ƒ †‘‡•‹ƒͳ͸ ‡ŽƒŽ—‹ Žƒƒ›ƒ ‡Œ‡Žƒ•ƒ Ž‡„‹Š
ŽƒŒ—–‡‰‡ƒ‹’‡Žƒ”ƒ‰ƒƒ–ƒ—ƒ‰virtual•‡„ƒ‰ƒ‹ƒŽƒ––”ƒ•ƒ•‹ǡ›ƒ‰‹–‹›ƒǣ
- ’‡‰‰—ƒƒ ƒ–ƒ —ƒ‰ virtual •‡„ƒ‰ƒ‹ ƒŽƒ– –”ƒ•ƒ•‹ ƒ•‹Š –‹†ƒ ‡‹Ž‹‹
Žƒ†ƒ•ƒ ˆ‘”ƒŽǡ Š—•—•›ƒ †‡‰ƒ ‡‰ƒ…— ’ƒ†ƒ †ƒ‰ †ƒ‰ –‡–ƒ‰
ƒ–ƒƒ‰ǡ›ƒ‰’ƒ†ƒŠƒ‹ƒ–›ƒŠƒ”—•‡‰‰—ƒƒƒ–ƒ—ƒ‰—’‹ƒŠǢ
- ‡–‹ƒ†ƒƒ ‘–‘”‹–ƒ• ›ƒ‰ ‡‰ƒ–—” †ƒ ‡‰ƒ™ƒ•‹ ’‡‰‰—ƒƒ ƒ–ƒ —ƒ‰
˜‹”–—ƒŽ –‡”•‡„—– ƒƒ ‡‹„—Žƒ ‡”‡–ƒƒ †‹’‡”‰—ƒƒ›ƒ •‡„ƒ‰‹
–”ƒ•ƒ•‹ ‹Ž‡‰ƒŽǡ ’‡…—…‹ƒ —ƒ‰ǡ †ƒ ’‡†ƒƒƒ –‡”‘”‹•‡ ›ƒ‰ ƒƒ
‡”—‰‹ƒƒ•›ƒ”ƒƒ–Ǣ
- ‡–‹†ƒŒ‡Žƒ•ƒ underlying asset ›ƒ‰ ‡†ƒ•ƒ”‹ ‹Žƒ‹›ƒǡ ‡—…—Žƒ
‡—‰‹ƒ •’‡—Žƒ•‹ ’ƒ†ƒ –”ƒ•ƒ•‹›ƒǡ †ƒ ”‹•‹‘ bubble
ȋ’‡‰‰‡Ž‡„—‰ƒ‹Žƒ‹Ȍ›ƒ‰ƒƒ‡”—‰‹ƒƒ•›ƒ”ƒƒ–Ǥ

Aspek Hukum Anti Pencucian Uang
ƒ†ƒ •—ƒ–— •‹•–‡ ˆ‹ƒ•‹ƒŽ ›ƒ‰ •‡ƒ‹ ‘†‡” ƒƒ —…—Ž ’—Žƒ
‡—‰‹ƒ –‡”‡•’Ž‘‹–ƒ•‹ ‘Ž‡Š ’ƒ”ƒ ’‡ŒƒŠƒ–Ǥ ‘Š … ‘™‡ŽŽ ‡„‡”‹ƒ
’‡Œ‡Žƒ•ƒ›ƒ‰’ƒ†ƒŠƒ‹ƒ–›ƒ‡—Œ—ƒ’ƒ†ƒ•—ƒ–—•‹•–‡‡—ƒ‰ƒ›ƒ‰
‘†‡”ǡ†ƒŽƒ”ƒ‰ƒ—–—‡ˆƒ•‹Ž‹–ƒ•‹†ƒ‡Žƒ•ƒƒƒ’‡”†ƒ‰ƒ‰ƒ•‡…ƒ”ƒ

ͳͷ Š––’•ǣȀȀ™™™Ǥ„‹Ǥ‰‘Ǥ‹†Ȁ‹†Ȁ’—„Ž‹ƒ•‹Ȁ”—ƒ‰Ǧ‡†‹ƒȀ‡™•Ǧ”‡Ž‡ƒ•‡Ȁƒ‰‡•Ȁ•’̴ʹͲͲͶͳͺǤƒ•’šǡ
†‹ƒ•‡•–ƒ‰‰ƒŽʹ —Ž‹ʹͲͳͺ
ͳ͸ Š––’•ǣȀȀ™™™Ǥ‡‡‡—Ǥ‰‘Ǥ‹†Ȁ’—„Ž‹ƒ•‹Ȁ•‹ƒ”ƒǦ’‡”•Ȁ•‹ƒ”ƒǦ’‡”•Ǧ’‡”‹‰ƒ–ƒǦ’‡‰‰—ƒƒǦ

ƒ–ƒǦ—ƒ‰Ǧ˜‹”–—ƒŽǦ†‹Ǧ‹†‘‡•‹ƒǡ†‹ƒ•‡•–ƒ‰‰ƒŽͳͻ–‘„‡”ʹͲʹͲ

VeJ Volume 8 • Nomor 1 • 58

•ƒŠǡ–‡”›ƒ–ƒŒ—‰ƒ‡—‰‹ƒƒ†ƒ›ƒ’‡Žƒ—‡ŒƒŠƒ–ƒ›ƒ‰‡‡”‹–ƒŠƒ
’‡–”ƒ•ˆ‡”ƒŒ—–ƒƒ†‘Žƒ”•‡…ƒ”ƒ‹•–ƒ†‡‰ƒ‡‰‰—ƒƒ‘’—–‡”’”‹„ƒ†‹
†ƒ •ƒ–‡Ž‹–Ǥ ƒŽ –‡”•‡„—– †‹ƒ”‡ƒƒ ’‡…—…‹ƒ —ƒ‰ „‡”‰ƒ–—‰ ’ƒ†ƒ
‘’‡”ƒ•‹‘ƒŽ‹•ƒ•‹†ƒ•‹•–‡‡—ƒ‰ƒ›ƒ‰ƒ†ƒǤ‹Ž‹Šƒ’‡Žƒ——–—‡Žƒ—ƒ
’‡…—…‹ƒ —ƒ‰ Ž‡„‹Š „‡”‰ƒ–—‰ ’ƒ†ƒ ”‡ƒ–‹˜‹–ƒ• †ƒ”‹ ’‡Žƒ— •‡†‹”‹Ǥͳ͹ ‹•‹‘
money laundering †‹ †ƒŽƒ •‹•–‡ ‡—ƒ‰ƒ ›ƒ‰ ‘†‡” (modern financial
systems) •ƒ‰ƒ–„‡•ƒ”Ǥ
‡”ƒ‹– †‡‰ƒ ƒ…ƒƒ †ƒ”‹ ‡„‡”ƒ†ƒƒ new payment –‡”•‡„—–ǡ money
laundering ƒ–ƒ— ’‡…—…‹ƒ —ƒ‰ ‡Œƒ†‹ •ƒŽƒŠ •ƒ–— ƒ…ƒ ‡ŒƒŠƒ–ƒ ›ƒ‰ ƒƒ
‡†ƒ’ƒ–ƒ‡•‡’ƒ–ƒ—–—•‡ƒ‹„‡”‡„ƒ‰ǤƒŽƒŠ•ƒ–—ƒ•—•‡ŒƒŠƒ–ƒ
•‹„‡”›ƒ‹–—†‡‰ƒƒ†ƒ›ƒ˜‹”—•›ƒ‰„‡”ƒƒWannacryǡ›ƒ‰—…—Ž’ƒ†ƒ–ƒŠ—
ʹͲͳ͹ǡ †‡‰ƒ ‡‰‰—ƒƒ –‡„—•ƒ ›ƒ‰ †‹‹–ƒ †ƒŽƒ „‡–— bitcoinǤ ‹†ƒ
†‹’—‰‹”‹ „ƒŠ™ƒ money laundering ƒ–ƒ— –‹†ƒ ’‹†ƒƒ ’‡…—…‹ƒ —ƒ‰ –‡ŽƒŠ
‡Œƒ†‹ •ƒŽƒŠ •ƒ–— ƒ–‹˜‹–ƒ• —–ƒƒ †ƒ”‹ ‘”‰ƒ‹•ƒ•‹ ‡ŒƒŠƒ–ƒ –”ƒ•ƒ•‹‘ƒŽ ›ƒ‰
‡…ƒ”‹ ‡—–—‰ƒǤͳͺ ƒ•‹ŽǦŠƒ•‹Ž ›ƒ‰ †‹†ƒ’ƒ–ƒ †‡‰ƒ –‹†ƒ •ƒŠ –‡”•‡„—–
†‹ƒ•—ƒ‡†ƒŽƒ•‹•–‡‡—ƒ‰ƒ•‡…ƒ”ƒ‰Ž‘„ƒŽǡ•‡Š‹‰‰ƒ•‡‘ŽƒŠ‡Œƒ†‹Šƒ•‹Ž
›ƒ‰legitimateǤ
‡”ƒ‹– †‡‰ƒ ƒ…ƒƒ †ƒ”‹ ‡„‡”ƒ†ƒƒ new payment –‡”•‡„—–ǡ money
laundering ƒ–ƒ— ’‡…—…‹ƒ —ƒ‰ ‡Œƒ†‹ •ƒŽƒŠ •ƒ–— ƒ…ƒ ‡ŒƒŠƒ–ƒ ›ƒ‰ ƒƒ
‡†ƒ’ƒ–ƒ ‡•‡’ƒ–ƒ —–— •‡ƒ‹ „‡”‡„ƒ‰Ǥ ƒŽ –‡”•‡„—– •—†ƒŠ
†‹„—–‹ƒ†ƒ”‹„‡„‡”ƒ’ƒƒ•—•–‡”Œƒ†‹Ǥ‡Žƒ‹ƒ•—•›ƒ‰•—†ƒŠ†‹ƒ•—†ƒ†‹
ƒ–ƒ• ‘Ž‡Š ƒ †‘‡•‹ƒǡ ›ƒ‰ –‹†ƒ †ƒ’ƒ– †‹Ž—’ƒƒ ƒ†ƒŽƒŠ „ƒ‰ƒ‹ƒƒ •‹‡”‰‹
‡ŒƒŠƒ–ƒ‹‹†‡‰ƒ‡ŒƒŠƒ–ƒ•‹„‡”ǡ›ƒ‹–—†‡‰ƒƒ†ƒ›ƒMalware›ƒ‰„‡”ƒƒ
Wannacryǡ ›ƒ‰ —…—Ž ’ƒ†ƒ –ƒŠ— ʹͲͳ͹ǡ †‡‰ƒ ‡‰‰—ƒƒ –‡„—•ƒ ›ƒ‰
†‹‹–ƒ †ƒŽƒ „‡–— „‹–…‘‹Ǥ Financial Action Task Force ȋ•‡ŽƒŒ—–›ƒ †‹•‡„—–
•‡„ƒ‰ƒ‹  Ȍ †‹ †ƒŽƒ ƒŒ‹ƒ›ƒ ‡Œ‡Žƒ•ƒ ‡”‡–ƒƒ ’‡…—…‹ƒ —ƒ‰ ƒ–ƒ•
’‡”‡„ƒ‰ƒvirtual Assets†ƒŽƒƒ•—••‡”ƒ‰ƒ•‹„‡”wannacry›ƒ‰„‡„‡”ƒ’ƒ

ͳ͹ John Mc Dowell and Gary Novis, ‘The consequences of Money Laundering and Financial Crime’,
Economic Perspectibe: The Fight Against Money Laundering. Electronic Journal of the Office of
International Information Program (IIP), U.S Department of StateǡʹͲͲͳǡŠŽͷ
ͳͺ  ”‹‡ˆ ”—ŽŽƒŠǡ ‹†ƒ ‹†ƒƒ ‡…—…‹ƒ ƒ‰ ‘‡› ƒ—†‡”‹‰ǣ ‡‘”‹‡–ƒ•‹ ‡„‹Œƒƒ

‡ƒ‰‰—Žƒ‰ƒ†ƒ‡”Œƒ•ƒƒ–‡”ƒ•‹‘ƒŽǤƒŽƒ‰ǡƒ›—‡†‹ƒ—„Ž‹•Š‹‰ǡʹͲͲͶǡŠŽǤ͵ʹ

VeJ Volume 8 • Nomor 1 • 59

™ƒ–— ŽƒŽ— ‡ƒ”‹ ’‡”Šƒ–‹ƒ „‡”•ƒƒǡ Š—•—•›ƒ †‹’‡”‰—ƒƒ›ƒ ƒ–ƒ —ƒ‰
”›’–‘ —–— ‡Žƒ—ƒ ‡ŒƒŠƒ–ƒǡ –‡”ƒ•— ’‡…—…‹ƒ —ƒ‰Ǥ ƒ•—• wannacry
–‡”•‡„—– ‡—Œ—ƒ „ƒ‰ƒ‹ƒƒ Š—— †ƒŽƒ –—Œ—ƒ›ƒ —–— ‡™—Œ—†ƒ
–—Œ—ƒŠ——›ƒ‹–—‡’ƒ•–‹ƒŠ——ǡ‡ƒ†‹ŽƒŠ——ǡ†ƒ‡ƒˆƒƒ–ƒŠ——ǡ
Š—•—•›ƒ –‡”ƒ‹– ƒ–ƒ —ƒ‰ cyptoǡ cyber crimeǡ †ƒ cyber laundering Šƒ”—•ŽƒŠ
†‹™—Œ—†›ƒ–ƒƒǤ ‡‘Žƒƒ ’‡‰ƒ–—”ƒ ‡‰‡ƒ‹ ƒ–ƒ —ƒ‰ ”›’–‘ Šƒ”—•ŽƒŠ
†‹ƒŒ‹ƒ”‡ƒƒƒ‡‹„—Žƒ‡•—Ž‹–ƒ†‹†ƒŽƒ’‡„‡”ƒ–ƒ•ƒ–‹†ƒ’‹†ƒƒ
’‡…—…‹ƒ—ƒ‰Ǥ
‡Šƒ™ƒ–‹”ƒ ‡‰‡ƒ‹ †‹‡•’Ž‘‹–ƒ•‹›ƒ ’‡”‡„ƒ‰ƒ –‡‘Ž‘‰‹ †ƒŽƒ
‡‰‹ƒ–ƒ’‡…—…‹ƒ—ƒ‰ȋ›ƒ‰†‹‡ƒŽŒ—‰ƒ†‡‰ƒcyber launderingȌ‡Œƒ†‹•ƒ–—
ƒŽƒ•ƒ ›ƒ‰ ’‡–‹‰ —–— †‹’‡”–‹„ƒ‰ƒ ƒ ‡–”ƒŽ —–— ‡”‡‰—Žƒ•‹
‡‰‡ƒ‹ digital currencyǡ –‡”ƒ•— ‡‰‡ƒ‹  ‹‹Ǥ ƒƒˆ‹ ”ƒ‹
‡Œ‡Žƒ•ƒ „ƒŠ™ƒ•ƒ›ƒ †ƒŽƒ cyber laundering ‹‹ ‡‹Ž‹‹ ’”‘•‡• ›ƒ‰ •ƒƒ
†‡‰ƒ’‡…—…‹ƒ—ƒ‰‘˜‡•‹‘ƒŽǤƒ›ƒ•ƒŒƒ†ƒƒ‹Ž‡‰ƒŽ–‡”•‡„—–†‹–‡’ƒ–ƒ
’ƒ†ƒŽ‡„ƒ‰ƒ‡—ƒ‰ƒ›ƒ‰–‹†ƒ†‹ƒ–—”ǡ†‡‰ƒ‡‰‰—ƒƒƒ”–—’‹–ƒ”ƒ–ƒ—
‘‡•‹ ‹–‡”‡– „‡”„ƒ•‹• ‘’—–‡”Ǥͳͻ ƒ— †‡‹‹ƒ †‹ †ƒŽƒ
’‡”‡„ƒ‰ƒ›ƒǡ Cyber laundering ‹‹ –‡ŽƒŠ ‡Ž‹’—–‹ new payment systemsǡ
†‡‰ƒ ’‡‰‰—ƒƒ –‡‘Ž‘‰‹ ›ƒ‰ „‡”‹–‡‰”ƒ•‹ ‡ †ƒŽƒ cyber marketplace
ƒ—’—cyber bankingǤ
ƒŽƒŠ •ƒ–— ’‡†‡ƒ–ƒ †‹ †ƒŽƒ ”‡œ‹ ƒ–‹ ’‡…—…‹ƒ —ƒ‰ ‹‹ ƒ†ƒŽƒŠ
†‹‡„ƒ‰ƒ›ƒcompliance†ƒ”‹’‹ŠƒǦ’‹Šƒ›ƒ‰†‹•‡„—–•‡„ƒ‰ƒ‹’‹Šƒ’‡Žƒ’‘”
†ƒŽƒ ƒ–‹ ’‡…—…‹ƒ —ƒ‰Ǥ ƒ †‘‡•‹ƒ ›ƒ‰ ƒ•‹Š ‡Žƒ”ƒ‰ •‡‰ƒŽƒ „‡–—
virtual currencies –‹†ƒ ‡‰—–—‰ƒ †ƒ”‹ •—†—– ’‡…‡‰ƒŠƒ ’‡…—…‹ƒ —ƒ‰
ƒ”‡ƒ ’ƒ†ƒ ‡›ƒ–ƒƒ›ƒ ’—„Ž‹ ‡”‡•’‘ †‡‰ƒ •ƒ‰ƒ– ƒ–—•‹ƒ• ’ƒ†ƒ
’‡‰‰—ƒƒ „‡”„ƒ‰ƒ‹ ƒ…ƒ virtual currencies –‡”•‡„—–Ǥ  ›ƒ‰ –‡ŽƒŠ
„‡”‡„ƒ‰’—ǡ „—ƒ –‹†ƒ —‰‹ –‡ŽƒŠ †‹’‡”‰—ƒƒ •‡…ƒ”ƒ †‹ƒǦ†‹ƒǤ
ƒ›ƒ ‡‰ƒ”ƒ ›ƒ‰ –‡ŽƒŠ ‡”‡•’‘ ’‡‰ƒ–—”ƒ  –‡”•‡„—–ǡ †ƒ
’‡”‡„ƒ‰ƒ‰Ž‘„ƒŽ–‡”•‡„—–ƒƒ‡‰—–—‰ƒmoney laundererƒ’ƒ„‹Žƒ–‹†ƒ

ͳͻ ƒƒˆ‹”ƒ‹ǡ——‹†ƒƒ‡…—…‹ƒƒ‰ǣ‡”‡„ƒ‰ƒ‡œ‹–‹‡…—…‹ƒƒ‰†ƒ

’Ž‹ƒ•‹›ƒ –‡”Šƒ†ƒ’ ”‹•‹’ ƒ•ƒ” ‡†ƒ—Žƒ–ƒ ‡‰ƒ”ƒǡ —”‹•†‹•‹ ‹†ƒƒ †ƒ ‡‡‰ƒƒ
——,”‡••ǡ‘‰›ƒƒ”–ƒǡʹͲͳͷǡŠŽǤͷͲ

VeJ Volume 8 • Nomor 1 • 60

†‹ƒ–—” †‹ †‘‡•‹ƒǤ ‡‰ƒ ’‡—Œ—ƒ ’‹Šƒ ’‡Žƒ’‘” ȋ˜‹†‡ ƒ•ƒŽ ͳ͹ ƒ›ƒ– ȋͳȌ
†ƒ‰ †ƒ‰ ‘‘” ͺ ƒŠ— ʹͲͳͲ –‡–ƒ‰ ‡…‡‰ƒŠƒ †ƒ ‡„‡”ƒ–ƒ•ƒ
‹†ƒ ‹†ƒƒ ‡…—…‹ƒ ƒ‰ ȋ•‡ŽƒŒ—–›ƒ †‹•‡„—–  ‘Ǥ ͺ ƒŠ— ʹͲͳͲȌȌ
•‡•—‰‰—Š›ƒ –‡ŽƒŠ ‡‰ƒ†ƒ’–ƒ•‹ ’‡—Œ—ƒ ’‹Šƒ ’‡Žƒ’‘” –‡”ƒ‹– virtual
currencies–‡”•‡„—–ǡ†ƒŠƒ”—•–—†—’ƒ†ƒ‡ƒ‹•‡‡’ƒ–—ŠƒǤŽ‡Šƒ”‡ƒ›ƒ
’‹Šƒ ’‡Žƒ’‘” Šƒ”—• ‡Žƒ•ƒƒƒ ”‹•‹’ ‡‰‡ƒŽ‹ ‡‰‰—ƒ ƒ•ƒǤ ƒ†ƒ
Šƒ‹ƒ–›ƒ ’‡‡”ƒ’ƒ ’”‹•‹’ ‡‰‡ƒŽ‹ ’‡‰‰—ƒ Œƒ•ƒ ‘Ž‡Š  Ȁ  ȋ‡›‡†‹ƒ
ƒ•ƒ ‡—ƒ‰ƒȀ‡›‡†‹ƒ ƒ”ƒ‰ †ƒ ƒ•ƒȌ •ƒ‰ƒ– ’‡–‹‰ —–— ‡…‡‰ƒŠ
†‹‰—ƒƒ›ƒ  Ȁ  •‡„ƒ‰ƒ‹ •ƒ”ƒƒ ’‡…—…‹ƒ —ƒ‰ǤʹͲ ‡‰ƒ †‡‹‹ƒǡ †ƒ”‹
•—†—– ƒ–‹ ’‡…—…‹ƒ —ƒ‰ǡ †‡‰ƒ ’‡‰ƒ–—”ƒ ƒƒ ’‹Šƒ ’‡Žƒ’‘” ƒƒ †‹„‡”‹
„‡„ƒ—–—‡Žƒ—ƒ†‡‰ƒ‡–ƒ–’”‹•‹’‡‰‡ƒŽ‹’‡‰‰—ƒŒƒ•ƒ‹‹Ǥ

Eksistensi Central Bank Digital Currencies sebagai Instrumen Pembayaran di

Indonesia, serta Urgensi Pengaturan Hukumnya
‡”ƒ•ƒŽƒŠƒ‡‰‡ƒ‹Central Bank Digital Currencies–‹†ƒ•ƒŒƒ„‡”ƒ‹–ƒ
†‡‰ƒ ’‡”ƒ•ƒŽƒŠƒ cryptocurrenciesǡ –‡–ƒ’‹ Œ—‰ƒ „‡”ƒ‹–ƒ †‡‰ƒ „ƒ‰ƒ‹ƒƒ
‘†‡Ž’‡‰ƒ–—”ƒ†ƒ‡•‹•–‡•‹ƒƒcentral bank†ƒ”‹•—ƒ–—‡‰ƒ”ƒ‹–—•‡†‹”‹
†‹ †ƒŽƒ •‡„—ƒŠ ‡–‡”Š—„—‰ƒ †‡‰ƒ ‡•‹•–‡•‹ central bank †ƒŽƒ –ƒ–ƒƒ
–‡”ƒ•‹‘ƒŽǤ ‡–‹ƒ’ ’‡”‡„ƒ‰ƒ ‰Ž‘„ƒŽ –‡”ƒ‹– ‡„‹Œƒƒ †‹ „‹†ƒ‰ ‘‡–‡”
ƒƒ ‡—Œ—ƒ •‹•‹ ‹‘˜ƒ•‹ǡ •‡ƒŽ‹‰—• ‡”‡–ƒƒ›ƒǡ ›ƒ‰ Šƒ”—• †‹”‡•’‘Ǥ
ƒŽƒŠ•ƒ–—–ƒ–ƒ‰ƒ›ƒ‰‡—†‹ƒ—…—Žƒ†ƒŽƒŠ„ƒ‰ƒ‹ƒƒ„ƒ•‡–”ƒŽǦ„ƒ
•‡–”ƒŽŠƒ”—•‡‹‹”ƒ—Žƒ‰–‡–ƒ‰•–”ƒ–‡‰‹›ƒǤ
‡Šƒ†‹”ƒ crypto stablecoin ›ƒ‰ —…—Ž •‡„ƒ‰ƒ‹ ˜‡”•‹ †‹‰‹–ƒŽ †ƒ”‹ —ƒ‰
‡”–ƒ• (fiat currency) ›ƒ‰ –‡ŽƒŠ ‡„‡”‹ƒ •‡–‹ƒ’ ‘”ƒ‰ †‡‰ƒ •‡„—ƒŠ ƒ•‡•
‘‡•‹‹–‡”‡–ƒ–ƒ•’‹Ž‹Šƒ—ƒ‰‡”–ƒ•†‡‰ƒ–ƒ’ƒ„ƒ–ƒ•ƒǤ‡‰‡ƒ‹Central
Bank Cryptocurrencies†ƒ’ƒ–†‹’ƒŠƒ‹•‡„ƒ‰ƒ‹„‡”‹—–ǣ
The taxonomy defines a CBCC as an electronic form of central bank money that
can be exchanged in a decentralized manner known as peer-to-peer, meaning
that transactions occur directly between the payer and the payee without the
need for a central intermediary. The distinghuises CBCCs from other existing

ʹͲ ‡†ƒ ƒ–Š‘˜ƒ‹ǡ †ƒ Ǥ ƒ”‡†”ƒ ƒ–ƒǡ ‡œ‹ –‹ ‡…—…‹ƒ ƒ‰ †ƒ ‡”‘Ž‡Šƒ ƒ•‹Ž
‡ŒƒŠƒ–ƒ†‹†‘‡•‹ƒǡƒŽ‹„—ǡ ƒƒ”–ƒǡʹͲͳͳǡŠŽǤͷͲ

VeJ Volume 8 • Nomor 1 • 61

 forms of electronic central bank money, such as reserves, which are exchanged
in a centralised fashion across accounts at the central bank. Moreover, the
taxonomy distinghuises between two possible forms of CBCC: a widely
available, consumer-facing payment instrument targeted at retail
transactions; and a restricted-access, digital settlement token for wholsale
payment applicationsǤʹͳ

 •‡†‹”‹ ’ƒ†ƒ Šƒ‹ƒ–›ƒ ‡”—’ƒƒ ‡•‹–‡•‹ †‹‰‹–ƒŽ †ƒ”‹ —ƒ‰ –—ƒ‹ †‹
†‘’‡–Ǥƒ›ƒ’‡”„‡†ƒƒƒ–ƒ”ƒ†‡‰ƒ—ƒ‰–—ƒ‹ǡ–‡–ƒ’‹†ƒ’ƒ–†‹—Žƒ‹
†‡‰ƒ’‡ƒŠƒƒƒƒdigital cashǤ‡˜‹‘‘‡‡Œ‡Žƒ•ƒ—–—‡ƒŠƒ‹
’‡‡”ƒ’ƒ digital cashǡ ƒƒ ’‡”Ž— ‡ƒŠƒ‹ ƒ”ƒ–‡”‹•–‹ †ƒ”‹ cashǡ ›ƒ‰
†‹’‡”‰—ƒƒ•‡„ƒ‰ƒ‹’‡„ƒ›ƒ”ƒ•‡Šƒ”‹ǦŠƒ”‹ǡ›ƒ‰‡Ž‹’—–‹ǣ
- Everyone accepts it
- It is hard to counterfeit
- It can be exchanged directly (without involving a bank, payment processor,
or government)
- Settlement is instant and final (when I give you cash, all of it instantly
becomes yours)
- There are no minimum or maximum purchase amounts andno witholdings
periodsʹʹ

ƒ‡–”ƒŽǦ„ƒ‡–”ƒŽ–‡ŽƒŠ‡›ƒ†ƒ”‹„ƒŠ™ƒ’‡‰‰—ƒƒcash•‡†‹”‹•—†ƒŠ
„‡”—”ƒ‰Ǥ Digital cash –‹†ƒ ƒƒ ‡‰‰ƒ–‹ƒ cash ‹–— •‡†‹”‹ǡ –‡–ƒ’‹
†‹‡„ƒ‰ƒ •‡„ƒ‰ƒ‹ •–”ƒ–‡‰‹ —–— ‡’‡”—ƒ– ‡‘‘‹ •—ƒ–— ‡‰ƒ”ƒǤ ƒŽ
–‡”•‡„—– ‡”—’ƒƒ ‹‘˜ƒ•‹ ›ƒ‰ Ž‡„‹Š •–ƒ„‹Ž (stable) †ƒ •‡”„ƒ‰—ƒ (versatile)Ǥ
‡‹‹ƒ’—Žƒ†‡‰ƒƒ†ƒ›ƒ‡„—–—Šƒ’‡‰ƒ–—”ƒ‡‰‡ƒ‹Ǥ
Bank of International Settlement ȋ•‡ŽƒŒ—–›ƒ †‹•‡„—– Ȍ ‡”—’ƒƒ
’‡”™ƒ‹Žƒ‡‰ƒ”ƒǦ‡‰ƒ”ƒ†ƒ”‹•‡Ž—”—Š†—‹ƒ†‡‰ƒƒ—„‡”•ƒƒ•‡„‡•ƒ”ͻͷΨ
†ƒ”‹–‘–ƒŽ Gross Domestic Productȋ
Ȍ†—‹ƒǤƒ–‘”’—•ƒ–„‡”ƒ†ƒ †‹ ƒ•‡Žǡ
™‹••ǡ†ƒ‡‹Ž‹‹ʹƒ–‘”’‡”™ƒ‹Žƒ›ƒ‹–—†‹‘‰‘‰†ƒ‡š‹…‘‹–›Ǥ
 ‡‹Ž‹‹ ‹•‹ǡ ›ƒ‹–—ǣ “to serve central banks in their pursuit of monetary and
financial stability, to foster international cooperation in those areas and act as a bank

ʹͳ Morten Bench and Rodney Garrat., Central Bank Cryptocurrencies, BIS Quarterly Reviewǡ
‡’–‡„‡” ʹͲͳ͹ǡ ŠŽǤ ͷ͸ǡ †‹ƒ•‡• †ƒ”‹ Š––’•ǣȀȀ™™™Ǥ„‹•Ǥ‘”‰Ȁ’—„ŽȀ“–”’†ˆȀ”̴“–ͳ͹ͲͻˆǤ’†ˆ ’ƒ†ƒ
͸‰—•–—•ʹͲͳͻ
ʹʹ Š––’•ǣȀȀ™™™Ǥ‡˜‹”‘‘‡Ǥ…‘Ȁ’‘•–Ȁ™Šƒ–Ǧƒ”‡Ǧ…‡–”ƒŽǦ„ƒǦ†‹‰‹–ƒŽǦ…—””‡…‹‡•ǡ†‹ƒ•‡•–ƒ‰‰ƒŽ

ʹͷ–‘„‡”ʹͲʹͲ

VeJ Volume 8 • Nomor 1 • 62

for central banks”Ǥ‡‰ƒ†‡‹‹ƒ„‡”–‹†ƒ•‡Žƒ—„ƒ—–—„ƒ•‡–”ƒŽ
†‹ †ƒŽƒ ’‡”™—Œ—†ƒ •–ƒ„‹Ž‹–ƒ• ‘‡–‡” †ƒ ‡—ƒ‰ƒǤ ƒ †‘‡•‹ƒ ƒ•—
•‡„ƒ‰ƒ‹ •ƒŽƒŠ •ƒ–— ‡„‡” †ƒ”‹ Ǥ  ‡’‡”‡ƒŽƒ ‡‰‡ƒ‹
cryptocurrenciesǤ Cryptocurrencies „ƒ”— —…—Ž •‡–‹ƒ’ Šƒ”‹Ǥ ‘”–‡ ‡…Š †ƒ
‘†‡›
ƒ””ƒ––‡Œ‡Žƒ•ƒ•‡„ƒ‰ƒ‹„‡”‹—–ǣ
Our starting point for defining CBCC is a report on cryptocurrencies published
in 2015 by the committee on Payments and Market Infrastructures (CPMI
(2015)). This report sought to provide a definition of the new class of
currencies represented by bitcoin and altcoins (alternativies to bitcoin) that
had emerged using the same technology. The report identifies three key
characteristic of cryptocurrencies: they are electronic; are not the liability of
anyone; and feature peer-to-peer exchange.
Cryptocurrencies utilise DLT to allow remote peer-to-peer transfer of
electronic value in the absence of trust between contracting parties. Usually,
electronic representations of money, such as bank deposits, are exchanged via
centralised infrastructures, where a trusted intermediary clears and settles
transactions. Previously, peer-to-peer exchange was restricted to physical
forms of money.23

‡Œ‡Žƒ•ƒ –‡”•‡„—– ‡„‡”‹ƒ ‰ƒ„ƒ”ƒ ‡‰‡ƒ‹ ƒ”ƒ–‡”‹•–‹

cryptocurrencies›ƒ‰„‡”‡„ƒ‰•‡–‹ƒ’Šƒ”‹›ƒǤThe committee on Payments and
Market InfrastructuresȋȌ•‡„ƒ‰ƒ‹ƒƒ†‹”—Œ—‘Ž‡Š‘”–‡‡…Š†ƒ‘†‡›

ƒ””ƒ–– –‡”•‡„—– †‹ ƒ–ƒ• –‡”›ƒ–ƒ ‡‰‰—ƒƒ ‹•–‹ŽƒŠ Digital CurrenciesǤ ƒ†ƒ
•‹ƒ”ƒ ’‡”• ›ƒ‰ †‹Žƒ—ƒǡ  ‡Œ‡Žƒ•ƒ „ƒŠ™ƒ•ƒ›ƒ ‘˜ƒ•‹ †‹ †ƒŽƒ
™‹Žƒ›ƒŠ’‡„ƒ›ƒ”ƒ†ƒ’ƒ–‡‹Ž‹‹‹’Ž‹ƒ•‹›ƒ‰•ƒ‰ƒ–’‡–‹‰„ƒ‰‹‡ƒƒƒ
†ƒ‡ˆ‹•‹‡•‹†ƒ”‹•‹•–‡‡—ƒ‰ƒ†ƒŠƒ”—•†‹‘‹–‘”‘Ž‡Š„ƒ•‡–”ƒŽǤ
‡–‹ƒ’ —ƒ‰ digital –‡–— •ƒŒƒ ‡‹Ž‹‹ ‡—ƒ–ƒ †ƒ ‡Ž‡ƒŠƒǡ –‡–ƒ’‹
†ƒ’ƒ–‡Œƒ†‹‡Ž‡ƒŠƒ†ƒ‡—ƒ–ƒ„ƒ‰‹ƒ•‹‰Ǧƒ•‹‰—ƒ‰digitalǤ‡„‡”ƒ’ƒ
ƒ•ƒŽƒŠ–‡”•‡„—–‡Ž‹’—–‹ƒ†ƒƒ–ƒ—–‹†ƒ›ƒ’‹ŠƒǦ’‹Šƒ›ƒ‰„‡”–ƒ‰‰—‰Œƒ™ƒ„
‡’ƒ†ƒ ‡‰ƒ”ƒ ƒ–ƒ— –‹†ƒǡ „ƒ‰ƒ‹ƒƒ ’”‘•‡• ƒ’ƒ„‹Žƒ –‡”Œƒ†‹ ‡‡Ž‹”—ƒ ƒ–ƒ—
’‡„ƒ–ƒŽƒǡ ’‡”ƒ•ƒŽƒŠƒ confidentialityǡ data hackedǡ ƒ–ƒ— –”ƒ•ˆ‡” †ƒ–ƒ ’ƒ†ƒ
•‹•–‡Ǧ•‹•–‡–‡”•‡„—–ǡ•‡”–ƒ‡”‡–ƒƒ’‡‹’—ƒǤ
ƒ— †‡‹‹ƒ •‹•–‡ •‡–”ƒŽ‹•ƒ•‹ †ƒ †‡•‡–”ƒŽ‹•ƒ•‹ ‹‹ –‡”›ƒ–ƒ †ƒ’ƒ–
†‹‘„‹ƒ•‹ƒ ’‡‰‰—ƒƒ›ƒǤ ƒŽ ‹‹ †‹Œ‡Žƒ•ƒ ‘Ž‡Š cointelegraph •‡„ƒ‰ƒ‹

ʹ͵ —’”ƒ‘ʹͳ

VeJ Volume 8 • Nomor 1 • 63

„‡”‹—–ǣ
“As reported by Forbes, more than two bln people are unbanked or do not have
access to bankservices. There are over five bln people that use mobile phones,
and this number is growing rapidly. Thus, the banking system can be
implemented into the mobile network to provide services to more people. Using
cryptocurrency and blockchain, you can enjoy all the benefits of transparency,
security and decentralization. With digital money, you get controlling body, a
number of digital wallets and regulation base”.24

‡ƒŠƒ‹ŠƒŽ–‡”•‡„—–ǡ–‡”›ƒ–ƒ‹‘˜ƒ•‹Ǧ‹‘˜ƒ•‹›ƒ‰„‡”‡„ƒ‰Œ—‰ƒ‡›ƒ†ƒ”‹
ƒ†ƒ›ƒ ‡”‡–ƒƒǤ Ž‡Š ƒ”‡ƒ›ƒ †‹‘„‹ƒ•‹ƒ ƒ–ƒ”ƒ •‡–”ƒŽ‹•ƒ•‹ †ƒ
†‡•‡–”ƒŽ‹•ƒ•‹Ǥ ƒ”ƒ „‡‡”Œƒ Telcoin •‡„‡ƒ”›ƒ †‡‰ƒ ‡‰‰—ƒƒ mobile
operators †ƒ e-wallets •‡…ƒ”ƒ ‰Ž‘„ƒŽǤ ƒŽ ‹‹ ‡—‰‹ƒ ’‡‰‰—ƒ —–—
‡Œƒ‰ƒ— ’‡‰‰—ƒ •‡…ƒ”ƒ Ž‡„‹Š Ž—ƒ• †‡‰ƒ Žƒ›ƒƒ ‹”•‡–—ŠǤ ‡‰ƒ
†‡‹‹ƒ ŠƒŽ ‹‹ †ƒ’ƒ– ‡Œƒ†‹ ’‡”–‹„ƒ‰ƒ ‡ †‡’ƒ —–— ‡‰‡„ƒ‰ƒ
cryptocurrenciesƒ–ƒ——ƒ‰†‹‰‹–ƒŽ•‡…ƒ”ƒ–‡”•‡†‹”‹Ǥ
 ’ƒ›ƒ ’‡„‡”Žƒ—ƒ  –‡ŽƒŠ †‹Žƒ•ƒƒƒ ‘Ž‡Š „‡„‡”ƒ’ƒ ‡‰ƒ”ƒǤ
‡”ƒ‹–ŠƒŽ‹–—ǡ‰—•–Àƒ”•–‡•ǡGeneral Manager Bank of International Settlementǡ
†ƒŽƒ•ƒ„—–ƒ›ƒ‡›ƒ–ƒƒǣ
“If societies want digital money, the first fork in the road is the choice of
operational architecture. Should the payment system rely on a trusted central
authority (such as the central bank) to ensure integrity and finality? Or could
it be based on a decentralised governance system, where the validity of a
payment depends on achieving consensus among network participants on
what counts as valid payments?”25

‡–‹‰ „ƒ‰‹ ‡‰ƒ”ƒ —–— ‡‡–—ƒ „‡–— •‹•–‡ ’‡„ƒ›ƒ”ƒ ›ƒ‰
†‹‡Š‡†ƒ‹ǡ–‡”ƒ•—†‹†ƒŽƒ›ƒ–‡–ƒ‰Ǥ†ƒŽƒsurvey’ƒ†ƒ͸ͷƒ
‡–”ƒŽ†‹•‡Ž—”—Š†—‹ƒ‡—Œ—ƒ„ƒŠ™ƒͺ͸Ψ†ƒ”‹„ƒ•‡–”ƒŽ–‡”•‡„—–•ƒƒ–
‹‹‡Žƒ—ƒ”‹•‡–‡•’‡”‹‡–‡”ƒ‹–ǡ„ƒ‹wholesaleƒ—’—retailǤʹ͸
†‹–‡ƒƒŽ‡„‹Š’ƒ†ƒconcepts/pilot, safety,†ƒrobustness‡Œƒ†‹—…‹—–ƒƒ
›ƒ‰ †‹’‡”Šƒ–‹ƒ ’ƒ†ƒ ƒ•ƒŽƒŠ  ‹‹Ǥʹ͹ ‡ŽƒŒ—–›ƒ †‹–ƒ„ƒŠƒ ‘Ž‡Š 

ʹͶ Š––’•ǣȀȀ…‘‹–‡Ž‡‰”ƒ’ŠǤ…‘ǡ†‹ƒ•‡•’ƒ†ƒ–ƒ‰‰ƒŽʹͳ‘˜‡„‡”ʹͲʹͲ
ʹͷ Š––’•ǣȀȀ™™™Ǥ„‹•Ǥ‘”‰Ȁ•’‡‡…Š‡•Ȁ•’ʹͳͲͳʹ͹Ǥ’†ˆǡ†‹ƒ•‡•’ƒ†ƒʹͶ’”‹ŽʹͲʹͳǡŠŽǤͶ
ʹ͸ †ǡŠŽͺ
ʹ͹ †ǡŠŽͻ

VeJ Volume 8 • Nomor 1 • 64

†ƒŽƒ‘–‡•’‡—”—ƒ’‡‰‰—ƒƒ—ƒ‰–—ƒ‹†ƒ—”ƒ‰›ƒƒ•‡•—‹˜‡”•ƒŽ
‡ •‹•–‡ ’‡”„ƒƒǡ „ƒ›ƒ „ƒ •‡–”ƒŽ ‡Ž‹Šƒ–  •‡„ƒ‰ƒ‹ •ƒ”ƒƒ —–—
‡ƒ•–‹ƒ „ƒŠ™ƒ ƒ•›ƒ”ƒƒ– ‡’‡”–ƒŠƒƒ ƒ•‡• ‡ ’‹Ž‹Šƒ ’‡„ƒ›ƒ”ƒ
›ƒ‰ ƒƒǤ  †‹–‡”„‹–ƒ •‡…ƒ”ƒ ’—„Ž‹ —–— ‡Ž‡‰ƒ’‹ —ƒ‰ –—ƒ‹ǡ †ƒ
•‡…ƒ”ƒŠ—•—• „ƒ•‡–”ƒŽ‡Ž‹Šƒ– ’‡Ž—ƒ‰ †ƒŽƒ–‡‘Ž‘‰‹ digitalǡ’ƒŽ‹‰–‹†ƒ
—–— ‡‹‰ƒ–ƒ ‡ˆ‹•‹‡•‹ ’‡„ƒ›ƒ”ƒ †ƒ –‡”ƒ‹– ‹Ž—•‹ ‡—ƒ‰ƒǤ ‡‰ƒ
†‡‹‹ƒ–‡”ƒ‹–ǡ’‡”–ƒ›ƒƒ›ƒ„—ƒŽƒ‰‹’ƒ†ƒDz’ƒƒŠ‹–ƒ‡„—–—Šƒ
ƒ–ƒ—ƒ‰†‹‰‹–ƒŽǫdz‡Žƒ‹ƒ̶ƒ’ƒ–ƒŠ„ƒ•‡–”ƒŽ‡ƒ‰ƒ’’‡Ž—ƒ‰—–—
ƒ’ƒ ›ƒ‰ „‹•ƒ ‡Œƒ†‹ ”‡’”‡•‡–ƒ•‹ —ƒ‰ „ƒ •‡–”ƒŽ ›ƒ‰ —‰‰—Ž •‡…ƒ”ƒ
–‡‘Ž‘‰‹ǫʹͺ  ‡„‡”‹ƒ ’‡‡ƒƒ ’ƒ†ƒ ‡ƒ’—ƒ „ƒ •‡–”ƒŽ —–—
‡ƒ‰ƒ’’‡Ž—ƒ‰ǡ›ƒ‰–‡–—•ƒŒƒƒƒ‡Ž‡–ƒƒ‡‰ƒ”ƒ†‡‰ƒ‡—‰‰—Žƒ
–‡‘Ž‘‰‹›ƒǤ
ƒ›—”‹Š‹”ƒ‹‡„‡”‹ƒ’‡Œ‡Žƒ•ƒ–‡”ƒ‹–•‡„ƒ‰ƒ‹„‡”‹—–ǣ
The International Monetary Fund (IMF) has begun to examine the potential
innovative nature of digital coins and has supported CBDC proposals. Christine
Lagarde, the former managing director of the IMF, for example, urged central
banks in November 2018 to consider CBDCs, since they could satisfy public
policy goals, including financial inclusion, security and/or customer
protection, and privacy in payments.ʹͻ

  ‡†‘”‘‰ ƒ ‡–”ƒŽǦƒ ‡–”ƒŽ —–— ‡ƒ†ƒ‰ —”‰‡ —–—

‡’‡”–‹„ƒ‰ƒƒ”‡ƒ†‹›ƒ‹‹†ƒ’ƒ–‡‡—Š‹–—Œ—ƒ‡„‹Œƒƒ
’—„Ž‹ǡ –‡”ƒ•— ‹Ž—•‹ ˆ‹ƒ•‹ƒŽǡ ‡ƒƒƒ †ƒȀƒ–ƒ— ’‡”Ž‹†—‰ƒ ‘•—‡ǡ
„‡”‹—– ‡”ƒŠƒ•‹ƒƒ †ƒŽƒ ’‡„ƒ›ƒ”ƒǤ ‡‰ Š— ‡—†‹ƒ ‡„‡”‹ƒ
’‡†ƒ’ƒ– „ƒŠ™ƒ•ƒ›ƒ „ƒ›ƒ „ƒ •‡–”ƒŽ ‡Žƒ—ƒ ‡•’Ž‘”ƒ•‹ ƒ–ƒ• ’”‘•’‡
†‡‘‹ƒ•‹ †ƒŽƒ„‡–——‹–ƒ–ƒ —ƒ‰ƒ•‹‘ƒŽǤ‡„‡”ƒ’ƒ†‹ ƒ–ƒ”ƒ›ƒ
ƒ†ƒŽƒŠ project Jasper †ƒ”‹ Bank of Canadaǡ joint project Stella †ƒ”‹ Bank of Japan
†‡‰ƒthe European Central BankǡProject Ubin†ƒ”‹”‘–‹–ƒ•‡—ƒ‰ƒ‹‰ƒ’—”ƒǡ
project e-krona †ƒ”‹ Sveriges Riksbankǡ •‡”–ƒ Project Inthanon †ƒ”‹ Bank of

ʹͺ †
ʹͻ Sayuri Shirai, Money and Central Bank Digital Currency” dalam Central Bank Digital Currency and
FinTech in Asia, edited by Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai, Asian
Development Bank InstituteǡʹͲͳͻǡŠŽǤʹ͹

VeJ Volume 8 • Nomor 1 • 65

ThailandǤ͵Ͳ ‡‰Š—‡Œ‡Žƒ•ƒŽ‡„‹Š”‹…‹‡‰‡ƒ‹’”‘Œ‡…–›ƒ‰†‹Žƒ—ƒ‘Ž‡Š
People’s Bank of ChinaȋȌ–‡”ƒ‹–‹‹ǤƒŠ™ƒ•ƒ›ƒ’‡ŒƒŒƒƒ‡‰‡ƒ‹
‡—‰‹ƒ ’‡‡”ƒ’ƒ  †‹—Žƒ‹ •‡Œƒ ʹͲͳͶǤ ƒ–ƒ —ƒ‰ †‹‰‹–ƒŽ ‹‹
†‹Šƒ”ƒ’ƒ†ƒ’ƒ–‡‰—”ƒ‰‹„‹ƒ›ƒ•‹”—Žƒ•‹—ƒ‰‡”–ƒ•ǡ•‡ƒŽ‹‰—•‡‹‰ƒ–ƒ
‘–”‘Ž ƒ–ƒ• ’ƒ•‘ƒ —ƒ‰Ǥ ‡ŽƒŒ—–›ƒ ’ƒ†ƒ –ƒŠ— ʹͲͳͻǡ  ‡›ƒ–ƒƒ
“almost ready” —–— ’‡‡”„‹–ƒ ƒ–ƒ —ƒ‰ †‹‰‹–ƒŽ –‡”•‡„—–Ǥ  ‡†ƒ•ƒ”ƒ
’ƒ†ƒ •‹•–‡ †—ƒ –‹‰ƒ–ǡ ›ƒ‹–—  ƒƒ ‡›‡†‹ƒƒ —ƒ‰ †‹‰‹–ƒŽǡ •‡‡–ƒ”ƒ
„ƒ†ƒŽ‡„ƒ‰ƒŽƒ‹‡†‹•–”‹„—•‹ƒ‡ƒ•›ƒ”ƒƒ–——Ǥ‡™ƒŒ‹„ƒ
„ƒ‰‹ Ž‡„ƒ‰ƒ –‡”•‡„—– ‡‹Ž‹‹ …ƒ†ƒ‰ƒ •‡„ƒ›ƒ ͳͲͲΨ †‡‰ƒ Ǥ 
–‡”•‡„—– ‡›‡”—’ƒ‹ cryptocurrency Šƒ›ƒ †ƒŽƒ …ƒ”ƒ ›ƒ‰ –‡”„ƒ–ƒ•ǡ –‹†ƒ
‡‰ƒ†ƒŽƒblockchain•‡„ƒ‰ƒ‹‡Šƒ–‹ǦŠƒ–‹ƒ†ƒŽƒ’‡‡”„‹–ƒǤ͵ͳProject
 †ƒ”‹  †‹•‡„—– •‡„ƒ‰ƒ‹ Digital Currency Electronic Payments ȋ†‹•‡„—–
ȌǤƒ›ƒ Ǥ ƒ—•‹‡ƒ†‹Ž› ‹‡Œ‡Žƒ•ƒ‡‰‡ƒ‹‡„‡”Šƒ•‹Žƒ project
›ƒ‰ƒƒ—Žƒ‹–‡”•‡†‹ƒ’ƒ†ƒ–ƒŠ—ʹͲʹʹǤ‡‡ƒƒ„ƒŠ™ƒ•ƒ›ƒ
ƒ–ƒ—ƒ‰„ƒ”—–‡”•‡„—–ƒƒ‡Ž‹†—‰‹†ƒ–ƒ’”‹„ƒ†‹ƒ–ƒ”’‡‰‰—ƒǡ–‡–ƒ’‹ƒ
•‡–”ƒŽ ƒƒ ƒ’— ‡‰ƒƒŽ‹•‹• –”ƒ•ƒ•‹ —–— ‡‰‹†‡–‹ˆ‹ƒ•‹ƒ ’‡Žƒ—
‡ŒƒŠƒ–ƒǤ͵ʹ The Wallstreet journal ‡Žƒ’‘”ƒ ˜‡”•‹ ƒ–ƒ —ƒ‰ „ƒ”—ǡ Š‹ƒ
‡’—›ƒ‹ƒŽƒ–—–—‡ƒ–ƒ—‡‘‘‹†ƒ”ƒ›ƒ–›ƒǤ‡Žƒ‹‹–—›—ƒ†‹‰‹–ƒŽ
†‹”ƒ…ƒ‰ ƒ‰ƒ” †ƒ’ƒ– †‹‰—ƒƒ •‡„ƒ‰ƒ‹ ‹•–”—‡ ’‡„ƒ›ƒ”ƒ ‹–‡”ƒ•‹‘ƒŽǡ
–‹†ƒ–‡”‹ƒ–’ƒ†ƒ•‹•–‡‡—ƒ‰ƒ‰Ž‘„ƒŽǡ†ƒ†ƒ’ƒ–‡‰Š‹Žƒ‰ƒƒ‘‘‹–ƒ•
›ƒ‰ •‡Žƒƒ ‹‹ †‹‹Ž‹‹ ‘Ž‡Š „‹–…‘‹Ǥ͵͵ ‡’‡”Šƒ–‹ƒ ’‡Œ‡Žƒ•ƒǦ’‡Œ‡Žƒ•ƒ
‡•‹ƒ’ƒ ƒ ‡–”ƒŽ Š‹ƒ •‡•—‰‰—Š›ƒ †ƒ’ƒ– ‡Œƒ†‹ ’‡†‘”‘‰ „ƒ‰‹ ƒ
†‘‡•‹ƒ•‡Žƒ—ƒ‡–”ƒŽ—–—‡‹Ž‹Š—–——Žƒ‹‡Žƒ—ƒ’‡‰ƒ–—”ƒ

͵Ͳ Feng Zhu, “Money and Finance in the Digital Age: Some New Developments” dalam Central Bank
Digital Currency and FinTech in Asia, edited by Marlene Amstad, Bihong Huang, Peter J. Morgan,
and Sayuri Shirai, Asian Development Bank InstituteǡʹͲͳͻǡŠŽǤͳ͵ͷ
͵ͳ †
͵ʹ Yaya J. Fanusie and Emily Jin, China’s Digital Currency Adding Financial Data To Digital

Authoritarianism, Energy, Economic & Security, Bulletin, JanuaryʹͲʹͳǡŠŽǤͳͳ

͵͵ James T. Arredy, China Creates Its Own Digital Currency, a First for Major Economy, diakses dari:

https://www.wsj.com/articles/china-creates-its-own-digital-currency-a-first-for-major-
economy-11617634118ǡ–ƒ‰‰ƒŽͷ —‹ʹͲʹͳ

VeJ Volume 8 • Nomor 1 • 66

Š——›ƒǤ ‡”†ƒ•ƒ”ƒ ƒ•’‡ ƒ–‹’‡…—…‹ƒ —ƒ‰ǡ ‡–‹ƒ†ƒƒ ’‡‰ƒ–—”ƒ 
ƒƒ ‡„‡”‹ƒ ‡—–—‰ƒ †‡‰ƒ ƒ†ƒ›ƒ ‘–”‘Ž ‡‰ƒ”ƒ ƒ–ƒ• ’‡‰‰—ƒƒ
ƒ–ƒ —ƒ‰›ƒǤ ƒŽ ‹‹ ƒƒ ‡—†ƒŠƒ —–— ‡‰ƒ™ƒ•‹ ƒƒƒŽƒ –‡”†ƒ’ƒ–
—’ƒ›ƒǦ—’ƒ›ƒ’‡…—…‹ƒ—ƒ‰›ƒ‰‡‰‰—ƒƒƒ–ƒ—ƒ‰‡Ž‡–”‘‹–‡”•‡„—–Ǥ
‡–‹ƒ’ ’‡”‡„ƒ‰ƒ ’ƒ•–‹ ‡‹Ž‹‹ ”‹•‹‘Ǥ ƒ— ‡‰‹‰ƒ–
’‡”‡„ƒ‰ƒ ›ƒ‰ •‡ƒ‹ ‰Ž‘„ƒŽ †‡‰ƒ ƒ…ƒƒ ‡ŒƒŠƒ–ƒ ›ƒ‰ •‡ƒ‹
‘’Ž‡• ›ƒ‰ ‡„—ƒ– ‡‰ƒ”ƒǦ‡‰ƒ”ƒ Šƒ”—• ‡‹‹”ƒ †ƒ ‡‹Ž‹Š ‹—–
‡”‡‰—Žƒ•‹ ƒ–ƒ— –‹†ƒǡ ‡‰‹—–‹ ’‡”‡„ƒ‰ƒ ƒ–ƒ— Šƒ›ƒ ‡Žƒ”ƒ‰Ǥ
‡”ƒ•ƒŽƒŠƒdigitalcurrencies †ƒ„‡”„ƒ‰ƒ‹’‡ƒƒƒŽƒ‹›ƒ–‡ŽƒŠ„‡”ƒ†ƒ’ƒ†ƒ
–ƒŠƒ’›ƒ‰•—†ƒŠ–‹†ƒ†ƒ’ƒ–†‹ƒ„ƒ‹ƒ†‡‰ƒ…ƒ”ƒŠƒ›ƒ‡Žƒ”ƒ‰Ǥ‡‡–ƒ”ƒ
‡›ƒ–ƒƒ›ƒ’‡Žƒ”ƒ‰ƒ‹–—–‹†ƒ†‹‹—–‹†‡‰ƒ—’ƒ›ƒŽƒ‹›ƒ‰‡—–—’•‹–—•Ǧ
•‹–—•ƒ”‡–online›ƒ‰†ƒ’ƒ–†‹Žƒ—ƒ†‡‰ƒ„‡”„ƒ‰ƒ‹…ƒ”ƒ†ƒ‡–‘†‡Ǥ
‡”ƒ‹–†‡‰ƒ”‹•‹‘’‡…—…‹ƒ—ƒ‰ǡ•‡•—‰‰—Š›ƒ†‹’ƒŠƒ‹†‡‰ƒ•‹ˆƒ–
anonymity †ƒ”‹ virtual currencyǤ ‡”›ƒ–ƒ ’ƒ†ƒ ǡ anonymity –‡”•‡„—– Œ—‰ƒ
•ƒ‰ƒ– ”‡–ƒ —…—ŽǤ European Central Bank Eurosystem †ƒŽƒ ’‡Œ‡Žƒ•ƒ›ƒ
‡‡‰ƒ•ƒ’ƒ†ƒƒ†ƒ›ƒUsers’ address†‹ƒƒ—–—•‡–‹ƒ’’‡‰‰—ƒ›ƒ(user)
is on-boarded by anintermediaryȋ’‡”ƒ–ƒ”ƒȌǤIntermediary–‡”•‡„—–‡›‡†‹ƒƒ
‹†‡–‹–ƒ• †‡‰ƒ •ƒƒ”ƒ (pseudonymous identities) ›ƒ‰ †‹’‡”‰—ƒƒ •‡„ƒ‰ƒ‹
ƒŽƒƒ– Œƒ”‹‰ƒ —–— ’‡„ƒ›ƒ”ƒ Ǥ ‡Žƒ‹ ‹–— –‡”ƒ‹– †‡‰ƒ anonymity
vouchersǡ ’‡‰‰—ƒ †ƒ’ƒ– ‡‰‰—ƒƒ †‡‰ƒ „‡„ƒ• ƒ”‡ƒ ‘–‘”‹–ƒ• ƒ–‹
’‡…—…‹ƒ—ƒ‰–‹†ƒ†ƒ’ƒ–‡Ž‹Šƒ––”ƒ•ƒ•‹†ƒ–ƒ›ƒ‰†‹Žƒ—ƒ›ƒ͵ͶǤ 
ƒŽƒ ’‡”•’‡–‹ˆ ’‡…—…‹ƒ —ƒ‰ ›ƒ‰ †‹Žƒ†ƒ•ƒ ’ƒ†ƒ  ‘Ǥ ͺ ƒŠ—
ʹͲͳͲǡ’ƒ†ƒŠƒ‹ƒ–›ƒ‡‰—’ƒ›ƒƒ’‡…‡‰ƒŠƒƒ–ƒ•‡•’Ž‘‹–ƒ•‹virtual currency
•‡„ƒ‰ƒ‹ ‡†‹ƒ ’‡…—…‹ƒ —ƒ‰Ǥ ‡„ƒ‰ƒ‹ƒƒ –‡ŽƒŠ †‹Œ‡Žƒ•ƒ ’ƒ†ƒ „ƒ‰‹ƒ
•‡„‡Ž—›ƒǡvirtual currency†ƒŽƒ„‡”„ƒ‰ƒ‹„‡–—›ƒ›ƒ‰anonymous‡Œƒ†‹
†ƒ›ƒ–ƒ”‹—–—‡Žƒ—ƒ’‡…—…‹ƒ—ƒ‰Ǥ‡”„—ƒ–ƒǦ’‡”„—ƒ–ƒ–‡”ƒ‹–†‡‰ƒ
’‡‰‰—ƒƒ virtual currency †ƒȀƒ–ƒ—  †ƒŽƒ ’‡”•’‡–‹ˆ  ‘Ǥ ͺ ƒŠ—
ʹͲͳͲǡ ’ƒ†ƒ Šƒ‹ƒ–›ƒ ‡”—’ƒƒ ’‡”„—ƒ–ƒ ›ƒ‰ †‹Ž‡–ƒƒ ’ƒ†ƒ ƒ†ƒ›ƒ

͵Ͷ European Central Bank Eurosystem, Exploring Anonymity in Central Bank Digital Currencies, In
Focus Issue No.4, December 2019ǡŠŽǤ͹

VeJ Volume 8 • Nomor 1 • 67

–”ƒ•ƒ•‹ǡ›ƒ‰‡‹„—ŽƒŠƒ†ƒȀƒ–ƒ—‡™ƒŒ‹„ƒŠ——„ƒ‰‹†—ƒ’‹Šƒƒ–ƒ—
Ž‡„‹Š ȋ˜‹†‡ ƒ•ƒŽ ͳ ƒ‰ƒ ͵ȌǤ ”ƒ•ƒ•‹ ‹‹ ‡Œƒ†‹ underlyingǤ ƒ•ƒŽ ͳ ƒ‰ƒ Ͷ
‡‡‰ƒ•ƒ ‡‰‡ƒ‹ –”ƒ•ƒ•‹ ‡—ƒ‰ƒǡ ›ƒ‰ ‡Ž‹’—–‹ „‡”„ƒ‰ƒ‹ ’‡”„—ƒ–ƒ
Š——•‡„ƒ‰ƒ‹ƒƒ†‹ƒ•—††ƒŽƒ—†ƒ‰Ǧ—†ƒ‰†‡‰ƒ‡‰‰—ƒƒ—ƒ‰Ǥ
—…—Ž’‡”ƒ•ƒŽƒŠƒ†‹•‹‹ƒ†ƒŽƒŠ‡‡”‹–ƒŠ†‘‡•‹ƒ„‡Ž—‡‰ƒ–—”ƒ’ƒƒŠ
virtual currency•‡„ƒ‰ƒ‹ƒ–ƒ—ƒ‰ǡ–‡–ƒ’‹„‹Žƒvirtual currency†ƒŽƒ„‡–—
ƒƒ ƒƒ ‘–‘ƒ–‹• ‡Œƒ†‹ —ƒ‰ ”—’‹ƒŠǤ ‡‰ƒ †‡‹‹ƒ ‡Œƒ†‹ •—ƒ–—
‡„—–—Šƒ‡†‡•ƒ—–—†‹Žƒ—ƒ’‡‰ƒ–—”ƒƒƒvirtual currency †ƒȀƒ–ƒ—
Ǥ
‡Žƒ‹‹–——–—‡Žƒ—ƒ—’ƒ›ƒ‘–”‘Žƒ–ƒ•’‡‰‰—ƒƒvirtual currency
ƒƒ ’‹Šƒ ’‡Žƒ’‘” ȋ˜‹†‡ ƒ•ƒŽ ͳ͹ ƒ›ƒ– ȋͳȌȌ –‡–ƒ’ †‹„‡”‹ƒ ‡™ƒŒ‹„ƒ —–—
‡Žƒ—ƒ Customer Due Diligence †ƒȀƒ–ƒ— Enhance Due Diligence. ƒ”ƒ ’‹Šƒ
’‡Žƒ’‘” –‡”•‡„—– Šƒ”—• ‡„—ƒ– ’‡†‘ƒ —–— ’‡Žƒ’‘”ƒ †ƒ ‡’ƒ–—Šƒ›ƒ
•‡„ƒ‰ƒ‹ƒƒ †‹ƒƒƒ–ƒ †‹ †ƒŽƒ ‡–‡–—ƒ ƒ•ƒŽ ͵ͳ †ƒ ƒ•ƒŽ ͵ʹ  ‘Ǥ ͺ
ƒŠ— ʹͲͳͲǤ ƒ— ’‡‡”‹–ƒŠǡ †ƒŽƒ ŠƒŽ ‹‹ ƒ †‘‡•‹ƒ Šƒ”—• ‡”‡•’‘
’‡‰ƒ–—”ƒƒ–ƒ•–‡”•‡„—–Ǥ
‹ †‘‡•‹ƒǡ ’‡„‡–—ƒ  †ƒ’ƒ– †‹Žƒ—ƒ ‘Ž‡Š ƒ †‘‡•‹ƒǤ
‡„ƒ‰ƒ‹ƒƒ‡™‡ƒ‰ƒƒ†‘‡•‹ƒ†‹ƒ•ƒŽͳͷƒ›ƒ–ȋͳȌŠ—”—ˆ…ǡƒ
†‘‡•‹ƒ †ƒ’ƒ– ‡‡–ƒ’ƒ ƒŽƒ– ’‡„ƒ›ƒ”ƒ „ƒ”— „‡”—’ƒ Ǥ ‡‰ƒ
†‹–‡–ƒ’ƒ›ƒ  ‘Ž‡Š ƒ †‘‡•‹ƒ •‡„ƒ‰ƒ‹ ƒŽƒ– ’‡„ƒ›ƒ”ƒǡ ’‡‰‰—ƒƒ
virtual currency †ƒ’ƒ– †‹„ƒ–ƒ•‹ ’ƒ†ƒ  •ƒŒƒ •‡Š‹‰‰ƒ ’‡‰‰—ƒƒ –‹†ƒ Žƒ‰‹
‡‹„—Žƒ ”‹•‹‘Ǥ ƒ— ’‡„‡–—ƒ  ‘Ž‡Š ƒ †‘‡•‹ƒ Šƒ”—•
‡’‡”Šƒ–‹ƒ ƒ•ƒŽ ͳͻ  ƒ †‘‡•‹ƒǡ †ƒŽƒ ’ƒ•ƒŽ –‡”•‡„—– †‹›ƒ–ƒƒ
„ƒŠ™ƒ ƒ †‘‡•‹ƒ „‡”™‡ƒ‰ ‡‡–ƒ’ƒ ƒ…ƒǡ Šƒ”‰ƒǡ …‹”‹ —ƒ‰ ›ƒ‰
†‹‡Ž—ƒ”ƒǡ „ƒŠƒ ›ƒ‰ †‹‰—ƒƒ †ƒ –ƒ‰‰ƒŽ —Žƒ‹ „‡”Žƒ—›ƒ •‡„ƒ‰ƒ‹ ƒŽƒ–
’‡„ƒ›ƒ”ƒ ›ƒ‰ •ƒŠǤ ‡™‡ƒ‰ƒ ’‡‡–ƒ’ƒ ƒ…ƒ —ƒ‰ –‡”•‡„—– Šƒ›ƒ
†‹„ƒ–ƒ•‹’ƒ†ƒ—ƒ‰‡”–ƒ•†ƒ—ƒ‰Ž‘‰ƒ•ƒŒƒǤŽ‡Š•‡„ƒ„‹–—’‡”Ž—–‡”Ž‡„‹Š†ƒŠ—Ž—
’‡”Ž— †‹ƒ–—” –‡”ƒ‹– Œ‡‹• „ƒ”— †ƒ”‹ virtual currency †ƒŽƒ ‡™‡ƒ‰ƒ ƒ
†‘‡•‹ƒ—–—†ƒ’ƒ–‡„‡–—†‹†‘‡•‹ƒǤƒ†‘‡•‹ƒŒ—‰ƒŠƒ”—•
–‡”Ž‡„‹Š†ƒŠ—Ž—‡’‡”•‹ƒ’ƒƒ–—”ƒǦƒ–—”ƒ–‡”ƒ‹–’‡‰‰—ƒƒ•‡„ƒ‰ƒ‹
ƒŽƒ– ’‡„ƒ›ƒ”ƒ †ƒ •‹•–‡ ’‡„ƒ›ƒ”ƒ ‡‰‰—ƒƒ  †‹ †‘‡•‹ƒǤ

VeJ Volume 8 • Nomor 1 • 68

‡”ƒ–—”ƒǦ’‡”ƒ–—”ƒ –‡”•‡„—– Šƒ”—• –‡”Ž‡„‹Š †ƒŠ—Ž— †‹–‡–ƒ’ƒ ƒ‰ƒ” •ƒƒ– 
–‡”„‡–—ǡ†ƒ’ƒ–Žƒ‰•—‰†‹‰—ƒƒƒ•›ƒ”ƒƒ––ƒ’ƒ‡‹„—Žƒ•—ƒ–—
’‡”ƒ•ƒŽƒŠƒǤ ‡‰ƒ †‹Žƒ—ƒ›ƒ ’‡‰ƒ–—”ƒ ƒƒ †ƒ’ƒ– ‡Œƒ‹
–‡”™—Œ—†›ƒ ‡’ƒ•–‹ƒ Š—— ‡‰‡ƒ‹ ’‡‰‰—ƒƒ ƒ–ƒ —ƒ‰ †‹‰‹–ƒŽǡ ›ƒ‰
•‡ƒŽ‹‰—• –—Œ—ƒ –‡”ƒ‹– †‡‰ƒ ‡ƒ†‹Žƒ Š—— †ƒ ‡ƒˆƒƒ–ƒ Š—— ƒƒ
†ƒ’ƒ–†‹™—Œ—†ƒǤ
‡Žƒ‹‡’‡”•‹ƒ’ƒƒ•ƒŽƒŠŽ‡‰ƒŽ‹–ƒ•ƒ–—”ƒ—–—’‡„‡–—ƒǡ
’‡”Ž—Œ—‰ƒ†‹’‡”•‹ƒ’ƒ‹ˆ”ƒ•–”—–—”–‡‘Ž‘‰‹›ƒ‰‡ƒ†ƒ‹ǤƒŽ‹‹†‹•‡„ƒ„ƒ
 ‡„—–—Šƒ ‹ˆ”ƒ•–”—–—” –‡‘Ž‘‰‹ ›ƒ‰ „‡”„‡†ƒ †ƒ”‹ ’‡…‡–ƒƒ —ƒ‰
›ƒ‰ •—†ƒŠ ƒ†ƒ •‡„‡Ž—›ƒǤ ‹†ƒ •‡—ƒ ‡‰ƒ”ƒ ‡’—›ƒ‹ ‹ˆ”ƒ•–”——”
–‡‘Ž‘‰‹›ƒ‰†‹„—–—Šƒ—–—‡„—ƒ–•—ƒ–—virtual currencyǡ—–—‹–—ƒ
†‘‡•‹ƒ Šƒ”—• ‡…ƒ”‹ †ƒ ‡†ƒ–ƒ‰ƒ ‹ˆ”ƒ•–”—–—” –‡‘Ž‘‰‹ —–—
’‡„‡–—ƒ  †ƒ”‹ ‡‰ƒ”ƒ ›ƒ‰ –‡ŽƒŠ ‡’—›ƒ‹ –‡‘Ž‘‰‹ –‡”•‡„—–Ǥ
‡‰ƒ†ƒƒ–‡‘Ž‘‰‹—–—’‡„‡–—Œ—‰ƒŠƒ”—•‡’‡”Šƒ–‹ƒ–‡ƒ‰ƒǦ
–‡ƒ‰ƒ ƒŠŽ‹ †‹ †‘‡•‹ƒ ›ƒ‰ †ƒ’ƒ– ‡‰‰—ƒƒ –‡‘Ž‘‰‹ –‡”•‡„—– —–—
‡„‡–—Ǥ
ƒƒ–‹‹ƒ†ƒ†—ƒƒ…ƒ•‹ƒ’›ƒ‰†‹ƒ„‹Ž‘Ž‡Š†—ƒŽ‡„ƒ‰ƒ„ƒ†ƒ‘
„ƒǤƒ†‘‡•‹ƒ†ƒŽƒ•‹ƒ”ƒ’‡”•Œ‡Žƒ•‡Žƒ”ƒ‰‡‰‡ƒ‹„‡–—ƒ’ƒ’—
†ƒ”‹virtual currency–‡”ƒ‹– †‡‰ƒ’‡‰‰—ƒƒ•‡„ƒ‰ƒ‹‹•–”—‡’‡„ƒ›ƒ”ƒǤ
ƒ— †‡‹‹ƒ  †‹ †ƒŽƒ ’‡”ƒ–—”ƒ›ƒ ‡‰‹Œ‹ƒ †‹‰—ƒƒ›ƒ
Crypto assets •‡„ƒ‰ƒ‹ ’‡”†ƒ‰ƒ‰ƒ „‡”Œƒ‰ƒ ‘‘†‹–‹Ǥ ƒ— –‘”‹–ƒ• ƒ•ƒ
‡—ƒ‰ƒȋ Ȍ›ƒ‰‡ƒ—‰‹‡„‡”‹ƒ’ƒ†ƒ‰ƒ„ƒŠ™ƒ•‡—ƒ
’‡‰‰—ƒƒcryptoƒ†ƒŽƒŠ–‹†ƒ†‹’‡”‡ƒƒǤ‡–‹‰ƒ•‹ƒ’‹‹–‹†ƒ†ƒ’ƒ–„‡‰‹–—
•ƒŒƒ †‹›ƒ–ƒƒ •ƒŽ‹‰ „‡”–‡–ƒ‰ƒ ƒ–ƒ— ‹‘•‹•–‡•‹ǡ ƒ”‡ƒ ƒ•‹‰Ǧƒ•‹‰
‡‹Ž‹‹ ‡™‡ƒ‰ƒ ’‡‰ƒ–—”ƒ›ƒ –‡”•‡†‹”‹ †‡‰ƒ „‡”„ƒ‰ƒ‹ †ƒ’ƒ †ƒ
”‹•‹‘›ƒǤ ‡Žƒ— ƒ ‡–”ƒŽǡ ƒ †‘‡•‹ƒ ‡‹Ž‹‹ –ƒ‰‰—‰ Œƒ™ƒ„ ›ƒ‰
•ƒ‰ƒ– „‡•ƒ” †‹ †ƒŽƒ •–ƒ„‹Ž‹–ƒ• ‡‘‘‹ †ƒ ‘‡–‡” ‡‰ƒŽƒ ‡„‹Œƒƒ ›ƒ‰
†‹ƒ„‹Ž „‡•‡”–ƒ †‡‰ƒ ’‡”ƒ‰ƒ– Š——›ƒ Šƒ”—•ŽƒŠ ›ƒ‰ ‡„‡”‹ƒ
‡•–ƒ„‹Žƒ‘‡–‡”„ƒ‹‹”‘ƒ—’—ƒ”‘Ǥ
Cryptocurrency †ƒ Digital Currency (Virtual Currency) –‹†ƒ‡‰‰—ƒƒ
‡†‹ƒserverƒ—’—chip†ƒŽƒ’‡›‹’ƒƒ›ƒǤCryptocurrency Œ—‰ƒ„—ƒe-

VeJ Volume 8 • Nomor 1 • 69

commerce walletǡ ƒ”‡ƒ ’ƒ†ƒ •‹ walletǡ provider Fintech Šƒ”—• ‡›‡†‹ƒƒ
escrow account †ƒ„‡”–‹†ƒ•‡„ƒ‰ƒ‹ƒ‰‡—–—‡ˆƒ•‹Ž‹–ƒ•‹’‡„ƒ›ƒ”ƒƒ–ƒ”ƒ
’‡„‡Ž‹†ƒ’‡Œ—ƒŽǡ–‡”ƒ•—‡Žƒ—ƒ—’ƒ›ƒ’‡›‡Ž‡•ƒ‹ƒ•‡‰‡–ƒǤ͵ͷ
‡Ž—”—Š ’‡›‡Ž‡‰‰ƒ”ƒ –‡‘Ž‘‰‹ ˆ‹ƒ•‹ƒŽ —–— ‡’”‘•‡• •‡Ž—”—Š
–”ƒ•ƒ•‹’‡„ƒ›ƒ”ƒ›ƒ‰†‹Žƒ—ƒ‡‰‰—ƒƒ virtual currency.‡Žƒ”ƒ‰ƒ
›ƒ‰†‹Žƒ—ƒƒ†‘‡•‹ƒ’ƒ†ƒvirtual currency †‹ƒ”‡ƒƒ’‡‹Ž‹ƒvirtual
currency•ƒ‰ƒ–„‡”‹•‹‘ǡ‡‰‹‰ƒ–’ƒ†ƒvirtual currency –‹†ƒƒ†ƒ‘–‘”‹–ƒ•›ƒ‰
„‡”–ƒ‰‰—‰ Œƒ™ƒ„ †ƒ –‹†ƒ ƒ†ƒ ƒ†‹‹•–”ƒ–‘” ”‡•‹Ǥ ‡›‡Ž‡‰‰ƒ”ƒ virtual
currency ’—–‹†ƒƒ•—•‡„ƒ‰ƒ‹’‡›‡Ž‡‰‰ƒ”ƒ•‹•–‡’‡„ƒ›ƒ”ƒ•‡„ƒ‰ƒ‹ƒƒ
†‹ƒ–—”†ƒŽƒ ‘Ǥ ͳͺȀͶͲȀȀʹͲͳ͸ƒ—’— •‡„ƒ‰ƒ‹ ’‡›‡Ž‡‰‰ƒ”ƒ–‡‘Ž‘‰‹
ˆ‹ƒ•‹ƒŽ•‡„ƒ‰ƒ‹ƒƒ†‹ƒ–—”†ƒŽƒ‘ǤͳͻȀͳʹȀȀʹͲͳ͹Ǥ
 ‡–‹ƒ†ƒƒ ‘–‘”‹–ƒ• ›ƒ‰ „‡”–ƒ‰‰—‰ Œƒ™ƒ„ ’ƒ†ƒ virtual currency „—ƒ
‡Œƒ†‹ •ƒ–—Ǧ•ƒ–—›ƒ ƒŽƒ•ƒ ’‡Žƒ”ƒ‰ƒ ›ƒ‰ †‹Žƒ—ƒ ƒ †‘‡•‹ƒǤ
‡Žƒ”ƒ‰ƒ†ƒ”‹ƒ†‘‡•‹ƒŒ—‰ƒ†‹†ƒ•ƒ”ƒ’ƒ†ƒ–‹†ƒƒ†ƒ›ƒunderlying asset
›ƒ‰‡Œƒ†‹†ƒ•ƒ”’‡‡–—ƒŠƒ”‰ƒvirtual currencyǤ‡”„‡†ƒ†‡‰ƒƒ–ƒ—ƒ‰
ƒ•‹‰ǡ ƒ”‡ƒ –‹†ƒ ƒ†ƒ›ƒ underlying asset ’ƒ†ƒ virtual currency ‡›‡„ƒ„ƒ
Šƒ”‰ƒ’ƒ†ƒvirtual currency•ƒ‰ƒ–ˆŽ—–—ƒ–‹ˆ•‡Š‹‰‰ƒ–‹†ƒ†ƒ’ƒ–‡Œƒ†‹ƒ…—ƒ
†ƒŽƒ’‡‡–—ƒ‹Žƒ‹‘˜‡”•‹virtual currency–‡”•‡„—–ǤƒŽ‹‹ŽƒŠ›ƒ‰‡Œƒ†‹
ƒŽƒ•ƒ‡‰ƒ’ƒƒ–ƒ—ƒ‰ƒ•‹‰ƒ•‹Š„‘Ž‡Š†‹’”‘•‡••‡„ƒ‰ƒ‹•‹•–‡’‡„ƒ›ƒ”ƒǡ
•‡†ƒ‰ƒvirtual currency†‹Žƒ”ƒ‰—–—†‹’”‘•‡••‡„ƒ‰ƒ‹•‹•–‡’‡„ƒ›ƒ”ƒ†‹
†‘‡•‹ƒǤ ƒ”‰ƒ ›ƒ‰ ˆŽ—–—ƒ–‹ˆ ’ƒ†ƒ virtual currency ‡›‡„ƒ„ƒ ”‡–ƒ›ƒ
virtual currency –‡”Šƒ†ƒ’”‹•‹‘’‡‰‰‡Ž‡„—‰ƒȋBubbleȌ†ƒ”ƒ™ƒ†‹‰—ƒƒ
•‡„ƒ‰ƒ‹•ƒ”ƒƒ–‹†ƒ’‹†ƒƒ’‡…—…‹ƒ—ƒ‰ƒ—’—’‡†ƒƒƒ–‡”‘”‹•‡Ǥƒ”‹
•‹‹ –ƒ’ƒ Œ‡Žƒ• „ƒŠ™ƒ ƒ †‘‡•‹ƒ ‡Žƒ”ƒ‰ ’‡‰‰—ƒƒ virtual currency
†‹†ƒ•ƒ”ƒ ’ƒ†ƒ ‡–‹†ƒŒ‡Žƒ•ƒ provider ›ƒ‰ „‡”–ƒ‰‰—‰ Œƒ™ƒ„ †ƒŽƒ virtual
currency †ƒ„‡•ƒ”›ƒ”‹•‹‘†ƒŽƒ’‡‰‰—ƒƒcryptocurrencyǤ‡”†ƒ•ƒ”ƒŠƒŽǦ
ŠƒŽ –‡”•‡„—–ǡ ƒ †‘‡•‹ƒ ‡Žƒ”ƒ‰ ’‡‰‰—ƒƒ virtual currency •‡„ƒ‰ƒ‹ ƒŽƒ–
’‡„ƒ›ƒ”ƒ ƒ–ƒ— –‹†ƒ †‹ƒ—‹ •‡„ƒ‰ƒ‹ ƒ–ƒ —ƒ‰ †‹ †‘‡•‹ƒǤ ƒ”ƒ‰ƒ ƒ

͵ͷ ƒ‹Žƒ ƒŽ‹ƒǡ ‡”ƒ‰ƒ ‡‰ƒ–—”ƒ Crypto Currency †ƒŽƒ ‡…ƒ’ƒ‹ —Œ—ƒ ‡‰—Žƒ–‘” †‹
‡–‘” ƒ•ƒ‡—ƒ‰ƒ, —Ž‡–‹——‡„ƒ•‡–”ƒŽƒǡ‘Ž—‡ͳ͸ǡ‘Ǥͳǡ ƒ—ƒ”‹Ǧ —‹ʹͲͳͻǡ
ŠŽǤ͸ͺ

VeJ Volume 8 • Nomor 1 • 70

†‘‡•‹ƒ •‡†‹”‹ –‡ŽƒŠ ‡„‡”‹ƒ Œƒ™ƒ„ƒ ƒ–ƒ• ‡†—†—ƒ virtual currency
•‡„ƒ‰ƒ‹ƒŽƒ–’‡„ƒ›ƒ”ƒ„‡”—’ƒƒ–ƒ—ƒ‰†‹†‘‡•‹ƒǤ ƒ—†‡‹‹ƒ•–—†‹
Ž‹–‡”ƒ–—” ‡—Œ—ƒ „ƒŠ™ƒ•ƒ›ƒ ƒ•‹Š •ƒ‰ƒ– †‹—‰‹ƒ ‡”‡–ƒƒǦ
‡”‡–ƒƒ –‡”•‡„—– †‹ƒ–ƒ•‹ †‡‰ƒ ’‡‹Ž‹Šƒ ‘†‡Ž  ›ƒ‰ –‡’ƒ– „‡”‹—–
’‡”ƒ‰ƒ–›ƒǤ
‡•—‰‰—Š›ƒ’‡‰ƒ–—”ƒ‡„ƒ™ƒ‡—–—‰ƒ„ƒ‰‹ƒ‡–”ƒŽǤ
‡—–—‰ƒ †ƒ”‹ ”—’‹ƒŠ †‹‰‹–ƒŽ ƒ–ƒ”ƒ Žƒ‹ „‹ƒ›ƒ ‘’‡”ƒ•‹‘ƒŽ †ƒ –”ƒ•ƒ•‹ ›ƒ‰
Ž‡„‹Š”‡†ƒŠǡ–‡”—–ƒƒ†‹†ƒ‡”ƒŠ–‡”’‡…‹Ž†‹ƒƒ†‹•–”‹„—•‹—ƒ‰ˆ‹•‹–‡”„‡„ƒ‹
‘Ž‡Š ƒ•ƒŽƒŠ ‹ˆ”ƒ•–”—–—”Ǥ —’‹ƒŠ virtualǡ †ƒ’ƒ– †‹•‹’ƒ †‹ smartphoneǡ ƒ”–—ǡ
ƒ–ƒ— ‡Ǧwallet †ƒ ƒ”‡ƒ›ƒ ‡‹Ž‹‹ –‹‰ƒ– ‡ˆ‹•‹‡•‹ ›ƒ‰ Œƒ—Š Ž‡„‹Š –‹‰‰‹Ǥ͵͸
‡Œ‡Žƒ•ƒ ‹‹ ‡Œƒ†‹ •ƒŽƒŠ •ƒ–— ‡—–—‰ƒ ›ƒ‰ Šƒ”—• †‹’‡”–‹„ƒ‰ƒ ‘Ž‡Š
‡‡”‹–ƒŠ†‘‡•‹ƒ—–—‡Žƒ—ƒ’‡‰ƒ–—”ƒ–‡”ƒ‹–Ǥ
‡•‹ƒ’ƒ ƒ•›ƒ”ƒƒ– —–— ‡‰‰—ƒƒ  Œ—‰ƒ Šƒ”—• ‡Œƒ†‹
’‡”Šƒ–‹ƒƒ†‘‡•‹ƒƒ’ƒ„‹Žƒƒ—‡„‡–—ǤƒŽ‹‹†‹ƒ”‡ƒƒ†‹
†‘‡•‹ƒ ƒ•‹Š „ƒ›ƒ ƒ•›ƒ”ƒƒ– ›ƒ‰ „‡Ž— –‡”•‡–—Š –‡‘Ž‘‰‹Ǥ
‡„‡–—ƒ  –‹†ƒ „‘Ž‡Š •ƒ’ƒ‹ ‡”—‰‹ƒ „ƒ‰‹ ‡Ž‘’‘ ƒ•›ƒ”ƒƒ–
–‡”•‡„—–Ǥ ƒ”‡ƒ  ƒŽƒŠ †ƒ’ƒ– ‡‰‰‡”—• ’‡‰‰—ƒƒ —ƒ‰ ‘˜‡•‹‘ƒŽ
›ƒ‰‡›‡„ƒ„ƒ‡Ž‘’‘›ƒ‰–‹†ƒ„‹•ƒ‡‰‰—ƒƒƒƒ‡•—Ž‹–ƒ
†ƒŽƒ ‡Žƒ—ƒ –”ƒ•ƒ•‹ ‡—ƒ‰ƒǤ The pace at which cash is disappearing in
Sweden has authorities worried because many people, particularly the elderly and
vulnerable groups, don’t have access to digital currency.37
 †‹ †ƒŽƒ •‡‰ƒŽƒ ‡—”ƒ‰ƒ †ƒ ‡Ž‡„‹Šƒ›ƒ ƒ’ƒ›ƒ  –‹†ƒ
‡„‡”‹ƒ‘’•‹‡’ƒ†ƒƒ†‘‡•‹ƒ•‡Žƒ—‘–‘”‹–ƒ•‘‡–‡”—–—–‡–ƒ’–‹†ƒ
‡”‡•’‘‡„—–—Šƒ–‡”•‡„—–Ǥƒ†‘‡•‹ƒŠƒ”—•„‡‡”Œƒ•ƒƒ†‡‰ƒǡ
‹– ‹„‡” ƒ–ƒ—’— ƒ†ƒ ƒ†‹ †ƒ ‹„‡” ‡‰ƒ”ƒ ƒ”‡ƒ Šƒ”—• †‹…‡‰ƒŠ
‡—‰‹ƒ ‡•’Ž‘‹–ƒ•‹›ƒ ‘Ž‡Š ’‡Žƒ— ‡ŒƒŠƒ–ƒ •‹„‡”Ǥ ƒ— ƒ’ƒ„‹Žƒ –‹†ƒ
†‹ƒ–—”ǡ‡”‡–ƒƒƒƒ’‡…—…‹ƒ—ƒ‰ƒƒ•‡ƒ‹‡‰ƒ…ƒǤ

͵͸ “Bank Indonesian studies the Use of Central Bank Digital Currency”, diakses dari:
https://www.indonesia-investments.com/finance/financial-columns/bank-indonesia-studies-the-
use-of-central-bank-digital-currency/item8570ǡ’ƒ†ƒ͸ ‡„”—ƒ”‹ʹͲʹͲ
͵͹ ‹ƒ•‡• †ƒ”‹ Š––’•ǣȀȀ™™™Ǥ”ƒ…‘–‡—”Ǥ‡–Ȁˆ‹ƒ…‡Ȁ…”›’–‘…—””‡…›Ȁ†‹‰‹–ƒŽǦ…—””‡…‹‡•Ǧ…„†…•Ȁǡ

–ƒ‰‰ƒŽʹ͵‡•‡„‡”ʹͲʹͲ

VeJ Volume 8 • Nomor 1 • 71

Penutup
‡„‡–—ƒ†ƒ’‡‰ƒ–—”ƒŠ——–‡–ƒ‰‡Œƒ†‹•ƒ‰ƒ–—”‰‡
†‹†ƒŽƒ’‡”•’‡–‹ˆ’‡…‡‰ƒŠƒ†ƒ’‡„‡”ƒ–ƒ•ƒ–‹†ƒ’‹†ƒƒ’‡…—…‹ƒ—ƒ‰ǡ
•‡ƒŽ‹‰—•’‡†ƒƒƒ–‡”‘”‹•‡ǤVirtual Currency›ƒ‰•‡ƒ‹ƒ•‹ˆ„‡”‡„ƒ‰
ȋ–‡”ƒ•— †‹ †ƒŽƒ›ƒ Ȍǡ –‡–— •ƒŒƒ ‡„—–—Šƒ ”‡•’‘•‹˜‹–ƒ• †ƒ”‹ ƒ
‡–”ƒŽ‡‰ƒ”ƒǦ‡‰ƒ”ƒ‡‰‹‰ƒ– ƒ•’‡’‡”•ƒ‹‰ƒ‰Ž‘„ƒŽǡ•‡ƒŽ‹‰—•‹‘˜ƒ–‹ˆ†ƒ
‘’‡–‹–‹ˆǤ ƒŽ ‹‹ Œ—‰ƒ †‹’‡”Ž—ƒ •‡„ƒ‰ƒ‹ ’‡‘’ƒ‰ ‡‘‘‹ †ƒ ‡„‹Œƒƒ
‘‡–‡”•—ƒ–—‡‰ƒ”ƒǤ‡„‡–—ƒ†‹†‘‡•‹ƒ†ƒ’ƒ–†‹Žƒ—ƒ‘Ž‡Šƒ
†‘‡•‹ƒǤ ƒŽ –‡”•‡„—– –‡–— •ƒŒƒ †‹†ƒ•ƒ”ƒ ’ƒ†ƒ ‡™‡ƒ‰ƒ ƒ †‘‡•‹ƒ
•‡„ƒ‰ƒ‹ƒƒ†‹ƒ–—”’ƒ†ƒ‡–‡–—ƒƒ•ƒŽͳͷƒ›ƒ–ȋͳȌŠ—”—ˆ…ǡƒ†‘‡•‹ƒ
†ƒ’ƒ–‡‡–ƒ’ƒƒŽƒ–’‡„ƒ›ƒ”ƒ„ƒ”—„‡”—’ƒǤ
‡‰ƒ†‹–‡–ƒ’ƒ›ƒ‘Ž‡Šƒ†‘‡•‹ƒ•‡„ƒ‰ƒ‹ƒŽƒ–’‡„ƒ›ƒ”ƒǡ
’‡‰‰—ƒƒvirtual currency †ƒ’ƒ–†‹„ƒ–ƒ•‹’ƒ†ƒ•ƒŒƒ•‡Š‹‰‰ƒ’‡‰‰—ƒƒ
–‹†ƒ Žƒ‰‹ ‡‹„—Žƒ ”‹•‹‘Ǥ ƒ— ’‡„‡–—ƒ  ‘Ž‡Š ƒ †‘‡•‹ƒ
Šƒ”—•‡’‡”Šƒ–‹ƒƒ•ƒŽͳͻƒ†‘‡•‹ƒǡ›ƒ‰‡›ƒ–ƒƒ„ƒŠ™ƒƒ
†‘‡•‹ƒ „‡”™‡ƒ‰ ‡‡–ƒ’ƒ ƒ…ƒǡ Šƒ”‰ƒǡ …‹”‹ —ƒ‰ ›ƒ‰ †‹‡Ž—ƒ”ƒǡ
„ƒŠƒ›ƒ‰†‹‰—ƒƒ†ƒ–ƒ‰‰ƒŽ—Žƒ‹„‡”Žƒ—›ƒ•‡„ƒ‰ƒ‹ƒŽƒ–’‡„ƒ›ƒ”ƒ›ƒ‰
•ƒŠǡ †‹ƒƒ ‡™‡ƒ‰ƒ ’‡‡–ƒ’ƒ ƒ…ƒ —ƒ‰ –‡”•‡„—– Šƒ›ƒ †‹„ƒ–ƒ•‹ ’ƒ†ƒ
—ƒ‰‡”–ƒ•†ƒ—ƒ‰Ž‘‰ƒ•ƒŒƒǤŽ‡Š•‡„ƒ„‹–—’‡”Ž—–‡”Ž‡„‹Š†ƒŠ—Ž—’‡”Ž—†‹ƒ–—”
–‡”ƒ‹–Œ‡‹•„ƒ”—†ƒ”‹ virtual currency†ƒŽƒ‡™‡ƒ‰ƒƒ†‘‡•‹ƒ—–—
†ƒ’ƒ–‡„‡–—†‹†‘‡•‹ƒǤƒ†‘‡•‹ƒŒ—‰ƒŠƒ”—•–‡”Ž‡„‹Š†ƒŠ—Ž—
‡’‡”•‹ƒ’ƒƒ–—”ƒǦƒ–—”ƒ–‡”ƒ‹–’‡‰‰—ƒƒ•‡„ƒ‰ƒ‹ƒŽƒ–’‡„ƒ›ƒ”ƒ
†ƒ•‹•–‡’‡„ƒ›ƒ”ƒ‡‰‰—ƒƒ†‹†‘‡•‹ƒǤ
ƒ”ƒ ›ƒ‰ †ƒ’ƒ– †‹„‡”‹ƒ –‡”ƒ‹– †‡‰ƒ ŠƒŽ ‹‹ ƒ†ƒŽƒŠ ‡Žƒ—ƒ
’‡‰ƒ–—”ƒ•‡…ƒ”ƒ–‡‰ƒ•–‡–ƒ‰cryptocurrency†ƒȀƒ–ƒ—digital currency•‡Š‹‰‰ƒ
–‹†ƒ ‡‹„—Žƒ ‡”ƒ…—ƒ †‹ ƒ•›ƒ”ƒƒ–Ǥ ‡Žƒ‹ ‹–— ƒ †‘‡•‹ƒ •‡Žƒ—
„ƒ•‡–”ƒŽ†‹†‘‡•‹ƒŠ‡†ƒ›ƒ •‡‰‡”ƒ‡Žƒ—ƒ”‡‘•‡’–—ƒŽ‹•ƒ•‹•‹•–‡
’‡„ƒ›ƒ”ƒ †ƒ –‡–ƒ‰ —ƒ‰ ›ƒ‰ •—†ƒŠ ƒ†ƒ ’‡‰ƒ–—”ƒ›ƒ †‹ †ƒŽƒ Š——
’‘•‹–‹ˆ†‹†‘‡•‹ƒǤ

VeJ Volume 8 • Nomor 1 • 72

Daftar Pustaka

Buku-Buku:
”‹‡ˆ ”—ŽŽƒŠǡ ‹†ƒ ‹†ƒƒ ‡…—…‹ƒ ƒ‰ Money Launderingǣ ‡‘”‹‡–ƒ•‹
‡„‹Œƒƒ ‡ƒ‰‰—Žƒ‰ƒ †ƒ ‡”Œƒ•ƒƒ –‡”ƒ•‹‘ƒŽǤ ƒŽƒ‰ǡ
ƒ›—‡†‹ƒ—„Ž‹•Š‹‰ǡʹͲͲͶ
•‹ƒ‡˜‡Ž‘’‡–ƒ•–‹–—–‡ǡ “Central Bank Digital Currency and FinTech in
Asia”ǡ‡†‹–‡†„›ƒ”Ž‡‡•–ƒ†ǡ‹Š‘‰—ƒ‰ǡ‡–‡” Ǥ‘”‰ƒǡƒ†ƒ›—”‹
Š‹”ƒ‹ǡ•‹ƒ‡˜‡Ž‘’‡–ƒ•–‹–—–‡ǡʹͲͳͻ
ƒƒˆ‹ ”ƒ‹ǡ —— ‹†ƒƒ ‡…—…‹ƒ ƒ‰ǣ ‡”‡„ƒ‰ƒ ‡œ‹ –‹
‡…—…‹ƒ ƒ‰ †ƒ ’Ž‹ƒ•‹›ƒ –‡”Šƒ†ƒ’ ”‹•‹’ ƒ•ƒ” ‡†ƒ—Žƒ–ƒ
‡‰ƒ”ƒǡ —”‹•†‹•‹ ‹†ƒƒ †ƒ ‡‡‰ƒƒ ——ǡ  ”‡••ǡ ‘‰›ƒƒ”–ƒǡ
ʹͲͳͷ
‡†ƒƒ–Š‘˜ƒ‹ǡ†ƒǤƒ”‡†”ƒ ƒ–ƒǡ‡œ‹–‹‡…—…‹ƒƒ‰†ƒ‡”‘Ž‡Šƒ
ƒ•‹Ž‡ŒƒŠƒ–ƒ†‹†‘‡•‹ƒǡƒŽ‹„—ǡ ƒƒ”–ƒǡʹͲͳͳ
—Ž‹•–‹›‘™ƒ–‹ ”‹ƒ–‘ Ƭ Š‹†ƒ”–ƒ ȋ‡†Ȍǡ ‡–‘†‡ ‡‡Ž‹–‹ƒ —— ‘•–ƒŽƒ•‹ †ƒ
‡ˆŽ‡•‹ǡƒ›ƒ•ƒ„‘”†‘‡•‹ƒǡ ƒƒ”–ƒǡʹͲͲͻ

Artikel Dalam Jurnal dan Buletin:

Apolline Blandin, et.al, The Global Crypto Asset Regulatory Landscape Study, The
University of Cambridge: Judge Business Law, London, 2019
Bryan Zhang, et.al., Early Lessons on Regulatory Innovation to Enable Inclusive
Fintech. The University of Cambridge: Judge Business Law, London, 2019
Camila Amalia, Kerangka Pengaturan Crypto Currency dalam mencapai Tujuan
Regulator di Sektor Jasa Keuangan, Buletin Hukum Kebanksentralan, Volume
16, No. 1, Januari-Juni 2019
Christina Barontini and Henry Holden, No Proceeding with Caution – A survey on
Central Bank Digital Currency: Monetary and Economic Department, Bank for
International Serttlement, BIS Papers, 2019
European Central Bank Eurosystem, Exploring Anonymity in Central Bank Digital
Currencies, In Focus Issue No.4, December 2019,
John Mc Dowell, and Gary Novis, ‘The consequences of Money Laundering and
Financial Crime’, Economic Perspective: The Fight Against Money Laundering.
Electronic Journal of the Office of International Information Program (IIP), U.S
Department of State, 2001
Náñez Alonso, S.L.; Jorge-Vazquez, J.; Reier Forradellas,R.F., Central Banks Digital
Currency:Detection of Optimal Countries forthe Implementation of a CBDC
andthe Implication for Payment Industry Open Innovation. J. Open Innov.
Technol. Mark. Complex.2021,7, 72. https://doi.org/10.3390/joitmc7010072
Sayuri Shirai, Money and Central Bank Digital Currency, ADBI Working Paper Series,
ADBI: Japan, 2019
Tania Ziegler, et.al., Shifting Paradigms: The 4th European Alternative Finance
Benchmarking Report. The University of Cambrigde: Judge Business Law,
London, 2019
Yaya J. Fanusie and Emily Jin, China’s Digital Currency Adding Financial Data To
Digital Authoritarianism, Energy, Economic & Security, Bulletin, January 2021

VeJ Volume 8 • Nomor 1 • 73

Web Dokumen:
Andrew Tarpey, The Money Laundering Risk of Cryptocurrencies, Article, diakses
dari www.southpacgroup.com, pada tanggal 4 Agustus 2019
James T. Arredy, China Creates Its Own Digital Currency, a First for Major Economy,
diakses dari: https://www.wsj.com/articles/china-creates-its-own-digital-
currency-a-first-for-major-economy-11617634118, tanggal 5 Juni 2021
Morten Bench and Rodney Garrat., Central Bank Cryptocurrencies, BIS Quarterly
Review, September 2017, diakses dari
https://www.bis.org/publ/qtrpdf/r_qt1709f.pdf diakses pada 6 Agustus
2019
Robby Houben and Alexander Snyers, Cryptocurrencies and Blockchain: Legal
Context and implication for financial crime, money laundering and tax
evasion, European Parliament, 2018, diakses dari
https://www.europarl.europa.eu/cmsdata/150761/TAX3%20Study%20on%
20cryptocurrencies%20and%20blockchain.pdf
‹ƒ”ƒ‡”• ǣ‡‡”ƒ’ƒƒ–ƒƒ‰‹‰‹–ƒŽƒ•‹Š‡‡”Ž—ƒƒŒ‹ƒǡ†‹ƒ•‡•
Š––’•ǣȀȀ™™™Ǥ‘ŒǤ‰‘Ǥ‹†Ȁ‹†Ȁ„‡”‹–ƒǦ†ƒǦ‡‰‹ƒ–ƒȀ•‹ƒ”ƒǦ
’‡”•Ȁ‘…—‡–•Ȁƒ‰‡•Ȁ‹ƒ”ƒǦ‡”•Ǧ Ǧ‡‡”ƒ’ƒǦƒ–ƒǦƒ‰Ǧ‹‰‹–ƒŽǦ
ƒ•‹ŠǦ‡”Ž—Ǧ
ƒŒ‹ƒȀ‹ƒ”ƒΨʹͲ‡”•ΨʹͲ ΨʹͲ‡‡”ƒ’ƒΨʹͲƒ–ƒΨʹͲƒ‰ΨʹͲ‹‰‹
–ƒŽΨʹͲƒ•‹ŠΨʹͲ‡”Ž—ΨʹͲƒŒ‹ƒǤ’†ˆ
Š––’•ǣȀȀ™™™Ǥ‘ŒǤ‰‘Ǥ‹†Ȁ‹†Ȁ„‡”‹–ƒǦ†ƒǦ‡‰‹ƒ–ƒȀ•‹ƒ”ƒǦ
’‡”•Ȁ‘…—‡–•Ȁƒ‰‡•Ȁ‹ƒ”ƒǦ‡”•Ǧ Ǧ‡‡”ƒ’ƒǦƒ–ƒǦƒ‰Ǧ‹‰‹–ƒŽǦ
ƒ•‹ŠǦ‡”Ž—Ǧ
ƒŒ‹ƒȀ‹ƒ”ƒΨʹͲ‡”•ΨʹͲ ΨʹͲ‡‡”ƒ’ƒΨʹͲƒ–ƒΨʹͲƒ‰ΨʹͲ‹‰‹
–ƒŽΨʹͲƒ•‹ŠΨʹͲ‡”Ž—ΨʹͲƒŒ‹ƒǤ’†ˆ
Š––’•ǣȀȀ™™™Ǥ„‹Ǥ‰‘Ǥ‹†Ȁ‹†Ȁ’—„Ž‹ƒ•‹Ȁ”—ƒ‰Ǧ‡†‹ƒȀ‡™•Ǧ
”‡Ž‡ƒ•‡Ȁƒ‰‡•Ȁ•’̴ʹͲͲͶͳͺǤƒ•’šǡʹͲͳͺ
Š––’•ǣȀȀ™™™Ǥ„‹•Ǥ‘”‰Ȁ•’‡‡…Š‡•Ȁ•’ʹͳͲͳʹ͹Ǥ’†ˆ
Š––’•ǣȀȀ…‘‹–‡Ž‡‰”ƒ’ŠǤ…‘
Š––’•ǣȀȀ‡…‘‘›Ǥ‘‡œ‘‡Ǥ…‘
Š––’•ǣȀȀ™™™Ǥ‡˜‹”‘‘‡Ǥ…‘Ȁ’‘•–Ȁ™Šƒ–Ǧƒ”‡Ǧ…‡–”ƒŽǦ„ƒǦ†‹‰‹–ƒŽǦ…—””‡…‹‡•
Š––’•ǣȀȀ™™™Ǥ‡‡‡—Ǥ‰‘Ǥ‹†Ȁ’—„Ž‹ƒ•‹Ȁ•‹ƒ”ƒǦ’‡”•Ȁ•‹ƒ”ƒǦ’‡”•Ǧ’‡”‹‰ƒ–ƒǦ
’‡‰‰—ƒƒǦƒ–ƒǦ—ƒ‰Ǧ˜‹”–—ƒŽǦ†‹Ǧ‹†‘‡•‹ƒǡ
Š––’•ǣȀȀ™™™Ǥ”ƒ…‘–‡—”Ǥ‡–Ȁˆ‹ƒ…‡Ȁ…”›’–‘…—””‡…›Ȁ†‹‰‹–ƒŽǦ…—””‡…‹‡•Ǧ…„†…•Ȁ
Š––’•ǣȀȀ™™™Ǥ‹†‘‡•‹ƒǦ‹˜‡•–‡–•Ǥ…‘Ȁˆ‹ƒ…‡Ȁˆ‹ƒ…‹ƒŽǦ…‘Ž—•Ȁ„ƒǦ
‹†‘‡•‹ƒǦ•–—†‹‡•Ǧ–Š‡Ǧ—•‡Ǧ‘ˆǦ…‡–”ƒŽǦ„ƒǦ†‹‰‹–ƒŽǦ…—””‡…›Ȁ‹–‡ͺͷ͹Ͳǡ
’ƒ†ƒ͸ ‡„”—ƒ”‹ʹͲʹͲ

Peraturan Perundang-undangan:
†ƒ‰Ǧ†ƒ‰ ‘‘” ʹ͵ ƒŠ— ͳͻͻͻ –‡–ƒ‰ ƒ †‘‡•‹ƒǡ ›ƒ‰ ‡—†‹ƒ
†‹—„ƒŠ †‡‰ƒ  ‘Ǥ ͵ ƒŠ— ʹͲͲͶ –‡–ƒ‰ ‡”—„ƒŠƒ ƒ–ƒ• †ƒ‰Ǧ
†ƒ‰‡’—„Ž‹†‘‡•‹ƒ‘‘”ʹ͵ƒŠ—ͳͻͻͻǡ›ƒ‰‡—†‹ƒ†‹—„ƒŠ
‘Ǥ͸ƒŠ—ʹͲͲͻ–‡–ƒ‰‡‡–ƒ’ƒ‡”ƒ–—”ƒ‡‡”‹–ƒŠ‡‰‰ƒ–‹
†ƒ‰Ǧ†ƒ‰ ‘‘” ʹ ƒŠ— ʹͲͲͺ –‡–ƒ‰ ‡”„—ƒŠƒ ‡†—ƒ –ƒ•

VeJ Volume 8 • Nomor 1 • 74

 †ƒ‰ †ƒ‰ ‘‘” ʹ͵ ƒŠ— ͳͻͻͻ –‡–ƒ‰ ƒ †‘‡•‹ƒ ‡Œƒ†‹
†ƒ‰Ǧ†ƒ‰
†ƒ‰Ǧ†ƒ‰ ‘‘” ͺ ƒŠ— ʹͲͳͲ –‡–ƒ‰ ‡…‡‰ƒŠƒ †ƒ ‡„‡”ƒ–ƒ•ƒ
‹†ƒ‹†ƒƒ‡…—…‹ƒƒ‰
‘ǤʹͲȀ͸ȀȀʹͲͳͺ–‡–ƒ‰ƒ‰‡Ž‡–”‘‹
‘ǤͳͺȀͶͲȀȀʹͲͳ͸–‡–ƒ‰‡Žƒ•ƒƒƒ”‘•‡•”ƒ•ƒ•‹‡„ƒ›ƒ”ƒ
‘ǤͳͻȀͳʹȀȀʹͲͳ͹–‡–ƒ‰‡›‡Ž‡‰‰ƒ”ƒƒ‡‘Ž‘‰‹ ‹ƒ•‹ƒŽ

VeJ Volume 8 • Nomor 1 • 75


Editorial Team | Veritas et Justitia https://journal.unpar.ac.id/index.php/veritas/about/editorialTeam

Home / Editorial Team

Editorial Team

Editor-in-chief

A Dwi Rachmanto, Faculty of Law, Parahyangan Catholic University, Indonesia

Board of Editor

Arie Afriansyah, Faculty of Law, University of Indonesia, Indonesia

Aroma Elmina Martha, Faculty of Law, Indonesia Islamic University, Indonesia

Bayu Seto Hardjowahono, Faculty of Law, Parahyangan Catholic University, Indonesia

Dewi Sukma Kristianti, Faculty of Law, Parahyangan Catholic University

Dyan F. D. Sitanggang, Universitas Katolik Parahyangan, Indonesia

Herlambang P Wiratman, Faculty of Law, Airlangga University, Indonesia

Koerniatmanto Soetoprawiro, Faculty of Law Parahyangan Catholic University, Indonesia

Johannes Gunawan, Faculty of Law, Parahyangan Catholic University, Indonesia

Manunggal K Wardaya, Faculty of Law, Jenderal Soedirman University, Indonesia

Niken Savitri, Faculty of Law, Parahyangan Catholic University, Indonesia

Shidarta, Business Law, Bina Nusantara University, Indonesia

Tanius Sebastian, Faculty of Law, Parahyangan Catholic University, Indonesia

Tristam Pascal Moeliono, Faculty of Law, Parahyangan Catholic University, Indonesia

Wisnu Aryo Dewanto, Faculty of Law, University of Surabaya, Indonesia

Board of Administration

Karolus E. Lature, Faculty of Law, Parahyangan Catholic University, Indonesia

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Home / Archives / Vol. 8 No. 1 (2022): Veritas et Justitia

Vol. 8 No. 1 (2022): Veritas et Justitia

Catatan Redaksi

Apakah masyarakat Indonesia harus galau menghadapi ancaman-tantangan yang muncul dari percepatan
perubahan zaman yang dibawa Industri 4.0, atau bahkan perkembangan metaverse? Sudah sejak Alvin Toffler
(era 70’an) kita semua diingatkan akan adanya akselerasi perubahan dan pesan bahwa satu-satunya kepastian
adalah justru perubahan yang semakin cepat-sering dan radikal. Sekian decade kemudian Yuval Harari
mengingatkan kita semua akan tantangan perubahan zaman, termasuk ancaman yang khusus menyasar negara-
negara berkembang.

Presiden Jokowi dalam kunjungannya ke UNPAR pada 2022 mengingatkan kita akan ketidakpastian global dan
menantang dunia pendidikan tinggi, bukan hanya ilmu hukum, untuk menanggapi. Tentu itu memenuhi
undangan itu tidak-lah semudah membalikan tangan. Satu tulisan mencoba menelusuri kembali pesan utama
yang disampaikan dan menelisik apa dan bagaimana dunia pendidikan tinggi hukum seyogianya menanggapi
perubahan zaman. Tentu apa yang dituliskan tidak niscaya merupakan jawaban akhir. Apalagi perubahan
tercepat terasa begitu nyata muncul di dunia digital maupun sains.

Uang sebagai alat tukar mempermudah perdagangan lintas batas negara. Tetapi apakah hukum nasional masih
dapat diandalkan, untuk mengatur dan mengendalikan penggunaan crypto currency? Lantas bagaimana dengan
kegiatan ekonomi yang bersifat lintas batas seperti bisnis over the top? Seberapa jauh Negara dapat mengejar
perkembangan bisnis di dunia digital yang tidak kenal dan peduli batas kedaulatan dan hukum nasional?

Ketertinggalan hukum juga dirasakan ketika kita berbicara tentang iptek (sain). Pengembangan Protocol
Kesehatan (yang dibangun berdasarkan sains yang terus berubah) di masa Pandemi juga terus berubah, kadang
secara radikal. Apa yang disebut hukum tidak lagi dapat dimaknai sebagai sesuatu yang ajeg dan memberi
kepastian. Penulis lain menelaah bagaimana Outer space faring nations, penguasa iptek terkini, mengusulkan
eksplorasi-eksploitasi bulan dan benda-benda angkasa. Bagaimana Indonesia harus menanggapi kesenjangan

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penguasaan iptek dengan negara maju dan seberapa jauh iptek yang terus berubah-berkembang harus
dicerminkan dalam kebijakan public? Dua tulisan tentang perkembangan dunia hukum antariksa dan
penanganan pandemic menyoroti hal ini.

Satu hal yang diingatkan satu penulis lain adalah keterlindanan hukum dan politik. Kita tidak dapat dan
mungkin mengandaikan bahwa hukum niscaya mencerminkan kepentingan bersama. Diskusi tentang tentang
nasib bulan dan benda-benda angkasa, perlunya mengundang investasi asing melalui UU Cipta Kerja, bagaimana
kita harus menyikapi urusan sengketa perjanjian kerja yang melibatkan majikan wakil negara sahabat, sampai
dengan pengembangan hukum waris pasca penghapusan kriteria golongan penduduk menunjukkan pentingnya
mencermati keterkaitan pengembangan hukum dan pertarungan politik.

Apakah kemudian ilmu pengetahuan terkini dapat memberi jalan keluar dan memberi jawaban pasti bagi
masalah-masalah masyarakat? Tulisan-tulisan yang ada justru menolak jawaban hitam putih. Namun
bagaimanapun juga kita tetap harus mengembangkan hukum (nasional-internasional) dengan kesadaran penuh
akan ketidakpastian.

Selamat membaca

DOI: https://doi.org/10.25123/vej.v8i1

Published: 2022-06-27

Articles

KETIDAKPASTIAN GLOBAL DAN TANGGAPAN PENDIDIKAN TINGGI HUKUM

Shidarta Shidarta
1-24

PDF

HIPOKRISI PARLEMEN DALAM FORMULASI TINDAK PIDANA POLITIK UANG PADA PEMILIHAN KEPALA
DAERAH
Ferry Fathurokhman
25-48

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URGENSI PENGATURAN HUKUM CENTRAL BANK DIGITAL CURRENCY DALAM DIMENSI ANTI PENCUCIAN
UANG
Go Lisanawati, Erly Aristo
49-75

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PROGRAM ARTEMIS: TANTANGAN HUKUM RUANG ANGKASA DI ERA BARU

Taufik Rachmat Nugraha

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76-108

PDF

OMNIBUS LAW: DOMINASI KEKUASAAN EKSEKUTIF DALAM PEMBENTUKAN LEGISLASI

Agus Suntoro, Kania Rahma Nureda
109-139

PDF

DAMPAK ASAS IMUNITAS TERHADAP PENYELESAIAN PERSELISIHAN HUBUNGAN KERJA ANTARA

PEGAWAI SETEMPAT (LOCAL STAFF) DENGAN PERWAKILAN NEGARA ASING
Ida Susanti
140-170

PDF

PAJAK PENGHASILAN BAGI OVER-THE-TOP DI INDONESIA: SEBUAH PELUANG DAN TANTANGAN

Amelia Cahyadini, Zainal Muttaqin, Sinta Dewi, Dewi Kania Sugiharti
171-190

PDF

URGENSI HUKUM WARIS NASIONAL SETELAH BERLAKUNYA UNDANG-UNDANG NO.23 TAHUN 2006
TENTANG ADMINISTRASI KEPENDUDUKAN
Dewi Fortuna Limurti
191-218

PDF

PERAN AHLI JIWA DALAM PEMBUKTIAN TINDAK PIDANA KEKERASAN PSIKIS DALAM RUMAH TANGGA
Y A Triana Ohoiwutun, Fiska Maulidian Nugroho, Samsudi Samsudi, Ari Dewanto
219-242

PDF

PROTOKOL KESEHATAN DAN GENEALOGI HUKUM DI MASA PANDEMI COVID-19

Harison Citrawan
243-268

PDF

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Kajian Yuridis Terhadap Peraturan Hukum Dalam Aspek Transparansi Terhadap Risiko Pada Layanan Priority Banking
Authors : RU Harsanto
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Optimalisasi Asas Oportunitas Pada Kewenangan Jaksa Guna Meminimalisir Dampak Primum Remedium Dalam Pemidanaan
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Penataan Ulang Kewenangan Penyidikan Dan Penuntutan Dalam Penegakan Hukum Pelanggaran HAM Berat
Authors : F Ramadhan, X Nugraha, PI Felany
Veritas et Justitia 6 (1), 172-212, 2020

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Norma Persatuan Sebagai Batasan Perbuatan Pidana Penyebaran Ujaran Kebencian Melalui Internet
Authors : H Christianto
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SEJARAH PEMBANGUNAN HUKUM PERBANKAN SYARIAH DI INDONESIA

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Dispensasi Kawin Akibat Hamil Di Luar Perkawinan Dan Dampaknya Pada Formulasi Pidana Zina
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