Legal Dilemma of Legality Aspect Blockchain and Cryptocurrency Transaction in Indonesia

Cryptocurrency regulation in Indonesia faces complexity due to differences in approach between Bank Indonesia (BI), the Commodity Futures Trading Supervisory Agency (Bappebti), and the Financial Services Authority (OJK), which creates legal uncertainty for the public and business actors. BI prohibits cryptocurrency as a means of payment, Bappebti classifies it as a tradable commodity, while OJK limits the involvement of financial institutions in crypto-asset transactions. This disharmony impacts legal certainty, consumer protection, and supervision of the potential misuse of cryptocurrency in criminal acts such as money laundering and terrorism financing. Although the government has regulated taxes on cryptocurrency transactions through the Minister of Finance Regulation, regulations related to investor protection and supervision mechanisms still need to be clarified. Therefore, policy harmonization is needed between BI, Bappebti, OJK, and other relevant authorities to create clear regulations, balance between supervision and innovation, and provide legal certainty for the cryptocurrency ecosystem in Indonesia to encourage sustainable digital economic growth.