The postponement of regional head elections may be done when the country is declared in a state of emergency. Emergencies such as war, economic crises, disease epidemics, and natural disasters affect the constitutional rights of citizens regulated by the 1945 Constitution. Therefore, legal instruments are needed to avoid unconstitutionality in fulfilling constitutional rights and democratic values during emergencies or dangers, including postponing regional elections during the COVID-19 pandemic. Article 12 of the 1945 Constitution is the most relevant legal basis for activating emergency constitutional law when the state is declared dangerous. However, Article 22 of the 1945 Constitution was preferred in postponing regional elections. Even though the holding of elections itself is guaranteed by the constitution every five years, on the other hand, the constitution has not regulated the postponement of elections if the country is in danger or an emergency. So, in the future, there will need to be constitutional amendments and new regulations that further widen the spectrum of dangerous or emergency conditions without forgetting Article 12 of the 1945 Constitution as a consideration
{"title":"The Postponed Regional Head Elections in Emergency Situations: a Constitutional Democracy Perspective in Indonesia","authors":"Fikri Ahsan, Wahyu Andrianto, Djarot Dimas Achmad Andaru, Mohamad Mohamad Hanapi","doi":"10.20961/yustisia.v12i2.64638","DOIUrl":"https://doi.org/10.20961/yustisia.v12i2.64638","url":null,"abstract":"<p>The postponement of regional head elections may be done when the country is declared in a state of emergency. Emergencies such as war, economic crises, disease epidemics, and natural disasters affect the constitutional rights of citizens regulated by the 1945 Constitution. Therefore, legal instruments are needed to avoid unconstitutionality in fulfilling constitutional rights and democratic values during emergencies or dangers, including postponing regional elections during the COVID-19 pandemic. Article 12 of the 1945 Constitution is the most relevant legal basis for activating emergency constitutional law when the state is declared dangerous. However, Article 22 of the 1945 Constitution was preferred in postponing regional elections. Even though the holding of elections itself is guaranteed by the constitution every five years, on the other hand, the constitution has not regulated the postponement of elections if the country is in danger or an emergency. So, in the future, there will need to be constitutional amendments and new regulations that further widen the spectrum of dangerous or emergency conditions without forgetting Article 12 of the 1945 Constitution as a consideration</p>","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135355147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-30DOI: 10.20961/yustisia.v12i2.69344
Rekson Silaban, Hanief Saha Ghafur, D. Widiawaty, Basir Basir
This study aims to examines online transport business practices in Indonesia and assesses whether workers get decent labor protection. The study tries to provide the answer to the unresolved debate about what form of regulation to close the protection for platform work. The method used a descriptive-qualitative research design with the study case paradigm notably in online transportation sectors. Research data was obtained through in-depth semi-structured interviews with drivers from different apps in Jakarta, the Indonesia Capital City. The study found that the improvement of employment protection for workers can only be done by first clarifying the legal status of workers, and determining the form of employment protection that is suitable for them, which is made through a special regulation. The study proposes a way out by providing options based on selected countries experiences of different continents on how the platform should protected without hurting platform business.
{"title":"Eliminating the Gap of Labor and Social Protection for the Workers of Platform-Based Transportation","authors":"Rekson Silaban, Hanief Saha Ghafur, D. Widiawaty, Basir Basir","doi":"10.20961/yustisia.v12i2.69344","DOIUrl":"https://doi.org/10.20961/yustisia.v12i2.69344","url":null,"abstract":"This study aims to examines online transport business practices in Indonesia and assesses whether workers get decent labor protection. The study tries to provide the answer to the unresolved debate about what form of regulation to close the protection for platform work. The method used a descriptive-qualitative research design with the study case paradigm notably in online transportation sectors. Research data was obtained through in-depth semi-structured interviews with drivers from different apps in Jakarta, the Indonesia Capital City. The study found that the improvement of employment protection for workers can only be done by first clarifying the legal status of workers, and determining the form of employment protection that is suitable for them, which is made through a special regulation. The study proposes a way out by providing options based on selected countries experiences of different continents on how the platform should protected without hurting platform business.","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46558390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-18DOI: 10.20961/yustisia.v12i2.72177
R. Subekti
Indonesia is a significant plastic waste producer and has more responsibility. In response, the Indonesian government has released several plastic garbage-related policies. However, the policies are viewed as ineffective. Through the circular economy concept, this study examines potential waste management policies for sustainable development by examining existing policies and comparing China's and the European Union's policies. The study shows that Indonesian waste management is highly dependent on the government. The policy affecting many sectors should require synergic participation from the related stakeholders, namely employers, investors, academicians, and civil society. As learned from these two countries, they have regulations related to an integrated waste management system, so there are no overlapping regulations. Furthermore, Indonesian waste management should consider the availability of a market for environmentally friendly items
{"title":"A Circular Economy-Based Plastic Waste Management Policy in Indonesia (Compared to China and EU)","authors":"R. Subekti","doi":"10.20961/yustisia.v12i2.72177","DOIUrl":"https://doi.org/10.20961/yustisia.v12i2.72177","url":null,"abstract":"Indonesia is a significant plastic waste producer and has more responsibility. In response, the Indonesian government has released several plastic garbage-related policies. However, the policies are viewed as ineffective. Through the circular economy concept, this study examines potential waste management policies for sustainable development by examining existing policies and comparing China's and the European Union's policies. The study shows that Indonesian waste management is highly dependent on the government. The policy affecting many sectors should require synergic participation from the related stakeholders, namely employers, investors, academicians, and civil society. As learned from these two countries, they have regulations related to an integrated waste management system, so there are no overlapping regulations. Furthermore, Indonesian waste management should consider the availability of a market for environmentally friendly items","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43535929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-16DOI: 10.20961/yustisia.v12i2.61271
Lastuti Abubakar, Tri Handayani
The Financial Services Sector is a pioneer in developing standard contract regulations. This standard contract complements Contract Law that did not initially regulate standard contracts. This study aims to analyze the development of standard contract regulation in the Indonesian financial services sector. It examines aspects that require strengthening so that standard contracts can become a protecting consumer tool in the financial services sector. This study uses a normative juridical approach with a descriptive-analytical research specification. The results show that: 1) The development of standard contract regulations in the POJK on Consumer Protection used by Financial Service Business Actors (PUJK) contains the principles and prohibitions on including exoneration clauses and undue influence. This provision fills the legal vacuum regarding standard contracts that still refer to the freedom of contract principle and Book III of the Civil Code and other related regulations. The use of the standard contracts encourages PUJK to comprehend the importance of consumer protection; 2) OJK should strengthen regulatory aspects by issuing guidelines on standard contract formats and contain correct interpretations of the scope of undue influence and supervise the standards contract both directly and indirectly that have been implemented by PUJK.
{"title":"Enhancing Consumer Protection in the Indonesian Financial Service Sector through the Utilization of Standardized Contracts","authors":"Lastuti Abubakar, Tri Handayani","doi":"10.20961/yustisia.v12i2.61271","DOIUrl":"https://doi.org/10.20961/yustisia.v12i2.61271","url":null,"abstract":"The Financial Services Sector is a pioneer in developing standard contract regulations. This standard contract complements Contract Law that did not initially regulate standard contracts. This study aims to analyze the development of standard contract regulation in the Indonesian financial services sector. It examines aspects that require strengthening so that standard contracts can become a protecting consumer tool in the financial services sector. This study uses a normative juridical approach with a descriptive-analytical research specification. The results show that: 1) The development of standard contract regulations in the POJK on Consumer Protection used by Financial Service Business Actors (PUJK) contains the principles and prohibitions on including exoneration clauses and undue influence. This provision fills the legal vacuum regarding standard contracts that still refer to the freedom of contract principle and Book III of the Civil Code and other related regulations. The use of the standard contracts encourages PUJK to comprehend the importance of consumer protection; 2) OJK should strengthen regulatory aspects by issuing guidelines on standard contract formats and contain correct interpretations of the scope of undue influence and supervise the standards contract both directly and indirectly that have been implemented by PUJK.","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43628362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Cryptocurrency as a virtual currency managed by a decentralized system makes it immune to government interference and allows it to transact under pseudonyms. This has the potential for cybercrime and illicit transactions, especially money laundering. This study aims to compare legal instruments in Indonesia, the US, and Germany regarding the use of cryptocurrency as a money laundering tool and to analyze the readiness of Indonesia to respond to this crime. This study is normative legal research conducted using a comparative and statutory approach. These findings show that the US and Germany have extensively regulated crypto. In the US, Crypto transactions are considered MSB, subject to BSA compliance. Each transaction must comply with AML, KYC, and CIP requirements. In Germany, Cryptocurrency is considered a personal asset. The crypto trading must meet the KYC and AML requirements. Indonesia needs advanced regulations because crypto is only considered an investment asset. The investigation is difficult because cryptocurrency is transacted pseudonyms, so connecting pseudonyms with real people is challenging
{"title":"Inadequate Cryptocurrency and Money Laundering Regulations in Indonesia (Comparative Law of US and Germany)","authors":"Tiara Putri, Amiludin Amiludin, Dwi Nurfauziah Ahmad, Hidayatulloh Hidayatulloh","doi":"10.20961/yustisia.v12i2.71835","DOIUrl":"https://doi.org/10.20961/yustisia.v12i2.71835","url":null,"abstract":"Cryptocurrency as a virtual currency managed by a decentralized system makes it immune to government interference and allows it to transact under pseudonyms. This has the potential for cybercrime and illicit transactions, especially money laundering. This study aims to compare legal instruments in Indonesia, the US, and Germany regarding the use of cryptocurrency as a money laundering tool and to analyze the readiness of Indonesia to respond to this crime. This study is normative legal research conducted using a comparative and statutory approach. These findings show that the US and Germany have extensively regulated crypto. In the US, Crypto transactions are considered MSB, subject to BSA compliance. Each transaction must comply with AML, KYC, and CIP requirements. In Germany, Cryptocurrency is considered a personal asset. The crypto trading must meet the KYC and AML requirements. Indonesia needs advanced regulations because crypto is only considered an investment asset. The investigation is difficult because cryptocurrency is transacted pseudonyms, so connecting pseudonyms with real people is challenging","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46109837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-01DOI: 10.20961/yustisia.v12i2.73316
Anna Maria Tri Anggraini, A. Sabirin, Yoel Nixon A Rumahorbo
Tying is usually defined as the dominant company selling one product since the buyer must also purchase a different product or agree not to purchase the bonded product from other suppliers. This paper analyzes requirements imposed by the reported business actor on other parties deemed to have violated the tying and bundling under competition law in Indonesia, the U.S., and the European Union. Also, it discusses the application of the Rule of Reason by the competition commission in these three region. This study uses a comparative law approach. The results of the analysis show that a tying agreement is an agreement that requires the recipient of the supply to buy other products that are not necessarily needed. Usually, these agreements are entered into by two affiliated companies or at least cooperating partners, one of which occupies a dominant position to prevent competitors from entering the relevant market. Not all tying agreements have a negative impact. Therefore, an impact analysis is needed through a rule of reason approach, especially in digital-based industries.
{"title":"The Form and Pattern of Business Actors Requirements in Exclusive Dealing: A Rule of Reason Approach","authors":"Anna Maria Tri Anggraini, A. Sabirin, Yoel Nixon A Rumahorbo","doi":"10.20961/yustisia.v12i2.73316","DOIUrl":"https://doi.org/10.20961/yustisia.v12i2.73316","url":null,"abstract":"Tying is usually defined as the dominant company selling one product since the buyer must also purchase a different product or agree not to purchase the bonded product from other suppliers. This paper analyzes requirements imposed by the reported business actor on other parties deemed to have violated the tying and bundling under competition law in Indonesia, the U.S., and the European Union. Also, it discusses the application of the Rule of Reason by the competition commission in these three region. This study uses a comparative law approach. The results of the analysis show that a tying agreement is an agreement that requires the recipient of the supply to buy other products that are not necessarily needed. Usually, these agreements are entered into by two affiliated companies or at least cooperating partners, one of which occupies a dominant position to prevent competitors from entering the relevant market. Not all tying agreements have a negative impact. Therefore, an impact analysis is needed through a rule of reason approach, especially in digital-based industries.","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48324552","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-15DOI: 10.20961/yustisia.v12i1.69404
M. A. Kwasau, Salma Abdurrahman Maina, R. Shafiu, Mariyah Muhammad Shafiu
Even when all other safeguards fail, a judiciary of unquestionable integrity is the cornerstone institution necessary for guaranteeing adherence to democracy and the rule of law. It protects the public from any violations of their legal rights and freedoms. This observation applies to both global analyses of the judicial system and rule of law process in America and France, in particular. The judiciary and legal adjudication process were viewed and examined as a great bastion of the rule of law throughout the United States of America and France as one of the great countries that are characterized as mature democracies in this paper, which relied on the qualitative method of data collection.
{"title":"Judiciary Problems in Mature Democratic Countries: American and French Perspectives","authors":"M. A. Kwasau, Salma Abdurrahman Maina, R. Shafiu, Mariyah Muhammad Shafiu","doi":"10.20961/yustisia.v12i1.69404","DOIUrl":"https://doi.org/10.20961/yustisia.v12i1.69404","url":null,"abstract":"Even when all other safeguards fail, a judiciary of unquestionable integrity is the cornerstone institution necessary for guaranteeing adherence to democracy and the rule of law. It protects the public from any violations of their legal rights and freedoms. This observation applies to both global analyses of the judicial system and rule of law process in America and France, in particular. The judiciary and legal adjudication process were viewed and examined as a great bastion of the rule of law throughout the United States of America and France as one of the great countries that are characterized as mature democracies in this paper, which relied on the qualitative method of data collection.","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49188039","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-30DOI: 10.20961/yustisia.v12i1.72856
Akhmad Akhmad, Sinung Mufti Hangabei
Regional Indonesia is one of the countries with high seismicity as it is located in the Ring of Fire. This article describes and analyzes the regulations concerning the earthquake- prone areas on the southwest coast of Sumatera Island, particularly in Bengkulu. Earthquake and disaster-related data are taken using the library method from several previous research results anddisaster reports from government agencies. The research result shows that medium-risk earthquake hazards dominate Bengkulu City. Several policies and regulations concerning urban land use are issued, but they must be further harmonized with earthquake disaster mitigation objectives. Almost all areas are located in the moderate seismic hazard area, so general rules and parameters are required for the classification structure; this is a must toensure that in case of earthquake, human lives are protected. Detailed spatial plans and zoning regulations become essential documents that can regulate spatial use in detail, accompanied by calculations related to the density and environmental conditions of the area given the spatial provisions.
{"title":"Review of Zoning Regulations for Seismic Area on the Southwest Coast of Sumatra, Indonesia","authors":"Akhmad Akhmad, Sinung Mufti Hangabei","doi":"10.20961/yustisia.v12i1.72856","DOIUrl":"https://doi.org/10.20961/yustisia.v12i1.72856","url":null,"abstract":"Regional Indonesia is one of the countries with high seismicity as it is located in the Ring of Fire. This article describes and analyzes the regulations concerning the earthquake- prone areas on the southwest coast of Sumatera Island, particularly in Bengkulu. Earthquake and disaster-related data are taken using the library method from several previous research results anddisaster reports from government agencies. The research result shows that medium-risk earthquake hazards dominate Bengkulu City. Several policies and regulations concerning urban land use are issued, but they must be further harmonized with earthquake disaster mitigation objectives. Almost all areas are located in the moderate seismic hazard area, so general rules and parameters are required for the classification structure; this is a must toensure that in case of earthquake, human lives are protected. Detailed spatial plans and zoning regulations become essential documents that can regulate spatial use in detail, accompanied by calculations related to the density and environmental conditions of the area given the spatial provisions.","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42022626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-30DOI: 10.20961/yustisia.v12i1.73395
Hikmah Bima Odityo
It has been argued that the government officials in Kyiv are attempting to retake Crimea and restore sovereignty over the region. It is appealing since the issue of Crimea remains unsettled. In 2014, the Crimean parliament promulgated the Declaration of Independence and imminently voted for a referendum to accede to the Russian Federation. Similar cases also occurred in Donetsk, Luhansk, Zaporizhzhia, and Kherson in 2022. This article will examine Crimean rights to self-determination to assess whether such acts comply with international law. Furthermore, this article will mainly focus on Crimean’s declaration of independence and its referendum to determine the status and impact of such acts. It can be seen that Crimea, as de facto is part of Russia. However, as de jure, the territory might belong to Ukraine. Considering that they have voted for independence, both the Crimean people and Ukraine authorities can further negotiate a new legal status to accommodate their rights.
{"title":"A Look at the Crimean Declaration of Independence through the Lens of International Law","authors":"Hikmah Bima Odityo","doi":"10.20961/yustisia.v12i1.73395","DOIUrl":"https://doi.org/10.20961/yustisia.v12i1.73395","url":null,"abstract":"It has been argued that the government officials in Kyiv are attempting to retake Crimea and restore sovereignty over the region. It is appealing since the issue of Crimea remains unsettled. In 2014, the Crimean parliament promulgated the Declaration of Independence and imminently voted for a referendum to accede to the Russian Federation. Similar cases also occurred in Donetsk, Luhansk, Zaporizhzhia, and Kherson in 2022. This article will examine Crimean rights to self-determination to assess whether such acts comply with international law. Furthermore, this article will mainly focus on Crimean’s declaration of independence and its referendum to determine the status and impact of such acts. It can be seen that Crimea, as de facto is part of Russia. However, as de jure, the territory might belong to Ukraine. Considering that they have voted for independence, both the Crimean people and Ukraine authorities can further negotiate a new legal status to accommodate their rights.","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49126985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-30DOI: 10.20961/yustisia.v12i1.69007
M. Multazam, Regita Amanah Huzairin, Sandika Putra Pratama, I. Irwansyah
One of the platforms in the blockchain is a decentralized exchange. The existence of these platforms helps exchange crypto assets instantly in the blockchain ecosystem without having to exchange them at a central exchange. The liquidity guarantors of decentralized exchanges are liquidity providers. This study aims to assess liquidity providers' legal safety on Vexanium, Indonesia's first public blockchain. The normative method employed in this analysis of the laws and regulations related to blockchain in Indonesia involves a preliminary examination of the liquidity provision process. This study found that the decentralized exchange platform on the Vexanium blockchain still needs to meet the criteria as an electronic system following the laws and regulations. In addition, the absence of clear information about the parties in the platform makes the liquidity provision contract voidable. This research can be utilized for platform developers in the Vexanium blockchain to pay more attention to legal aspects in creating their platforms..
{"title":"Is It Legal to Provide Liquidity on the Vexanium Decentralized Exchange in Indonesia?","authors":"M. Multazam, Regita Amanah Huzairin, Sandika Putra Pratama, I. Irwansyah","doi":"10.20961/yustisia.v12i1.69007","DOIUrl":"https://doi.org/10.20961/yustisia.v12i1.69007","url":null,"abstract":"<div class=\"WordSection1\"><table width=\"566\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td valign=\"top\" width=\"387\"><p>One of the platforms in the blockchain is a decentralized exchange. The existence of these platforms helps exchange crypto assets instantly in the blockchain ecosystem without having to exchange them at a central exchange. The liquidity guarantors of decentralized exchanges are liquidity providers. This study aims to assess liquidity providers' legal safety on Vexanium, Indonesia's first public blockchain. The normative method employed in this analysis of the laws and regulations related to blockchain in Indonesia involves a preliminary examination of the liquidity provision process. This study found that the decentralized exchange platform on the Vexanium blockchain still needs to meet the criteria as an electronic system following the laws and regulations. In addition, the absence of clear information about the parties in the platform makes the liquidity provision contract voidable. This research can be utilized for platform developers in the Vexanium blockchain to pay more attention to legal aspects in creating their platforms..</p></td></tr></tbody></table></div>","PeriodicalId":33244,"journal":{"name":"Yustisia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48326681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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