Routledge Handbook of Financial Technology and Law

Abstract

This paper looks at the importance of the law in a crypto-market and recognises that the market is a legal construct and so is the crypto-market. Private law matters as it provides legal certainty for market transactions. Regulatory intervention is required for a market as it can enhance legal certainty, mitigate legal and market risks, and address market failure. Currently there are different types of cryptoasset on the market. There are also several possible cryptoassets that are currently been imagined and could in the future enter the market. This phenomenon has created confusion. Cryptoassets keep developing alongside law and regulation. Using the existing private law concepts to engage in legal taxonomy exercises for these cryptoassets can lead to unsatisfactory results. Equally, applying the current regulatory ethos and framework to them has a significant risk of stifling financial innovation in the crypto-market. A new type of social contract is required to define the stakeholders and their relationships with law and regulation. This new social contract should reflect the desire to cross or even transcend national boundaries, the mistrust in the current centralised and intermediated market structure, the needs of the currently excluded, and a reformed power structure of global financial regulation. assets are in law so that stakeholders and participants in this developing system can understand how to use them to catalyse socio-economic transformation, 3 how to monetise them, 4 how to mitigate risks, 5 and how to regulate the way the system is used. 6

Tinjauan Hukum atas Penggunaan Cryptocurrency atau Mata Uang Kripto Sebagai Alat Pembayaran di Indonesia

“…6 Pada sisi lain, bahwa Cryptocurrency atau mata uang kripto seperti Bitcoin dan alternatif lainya tidak hanya digunakan sebagai alat pembayaran, tetapi juga digunakan )sebagai suatu aset karena nilainya yang besar. 7 Cryptocurrency atau mata uang kripto di Jepang dapat ditukarkan dengan uang konvensional Jepang dalam mata uang yen selain itu juga sebagai suatu pendapatan yang dapat diberlakukan aturan pajak bahkan terdapat perusahaan yang mengiklankan pekerjaan dengan gaji melalui Cryptocurrency atau mata uang kripto dan di Malaysia Cryptocurrency atau mata uang kripto dianggap sebagai sebuah aset yang diperdagangkan dimana Bank Negara Malaysia melakukan pengaturan terkait perdagangan Cryptocurrency atau mata uang kripto. 8…”