Crypto Asset as a Transaction Tool in the Perspective of Economic Analysis of Law: Legal Consequences and Ius Constituendum

Abstract

The use of crypto assets in business transactions is actually part of the development of technology and business digitization. This study aims to examine crypto assets as a means of business transactions in the perspective of Economic Analysis of Law. This research is a normative legal research with a concept and legislation approach. The results of the study explain that the legal consequences of crypto assets as a transaction tool in the perspective of the Economic Analysis of Law, which needs to be seen first as to whether crypto assets are in digital business transactions. As goods that can be traded, of course, crypto assets can become goods that are traded in accordance with the provisions of the Minister of Trade for Crypto Assets and Bappebti Regulations concerning the Determination of the List of Crypto Assets in the Physical Market. However, as a payment currency in digital business transactions, of course, crypto assets cannot actually be used as legal tender, because if it refers to the Currency Law, the legal tender is Rupiah. Thus, every digital transaction that only uses crypto assets as currency is null and void and subject to criminal sanctions. Furthermore, future regulation of crypto assets as a transaction tool in the perspective of Economic Analysis of Law must be carried out by breaking down the substance of Bappebti Regulation concerning the Determination of the List of Crypto Assets in the Physical Market into two characters, namely regeling and beshikking characters. In addition, studies and proposals from Bappebti are important to determine whether crypto assets can be used as currency in the future.