Perlindungan Hukum Bagi Investor Terhadap Kerugian Investasi Aset Kripto Ilegal: Studi Putusan No.543/Pdt.G/2022 PN BKS

Abstract

The advancement of digitalization in financial technology has driven the emergence of cryptocurrency as a new investment instrument that is digital, decentralized, and not subject to a central authority. In Indonesia, crypto assets were initially classified as commodities tradable on futures exchanges under the supervision of BAPPEBTI. However, during the regulatory transition from BAPPEBTI to the Financial Services Authority (OJK), their legal status shifted to digital financial assets. The lack of regulatory protection for investors, particularly in cases involving illegal investments, prompted OJK to address this legal vacuum by issuing POJK No. 27 of 2024. This research formulates three main issues: the legal status of cryptocurrency in Indonesia, the legal protection available to investors in crypto asset transactions, and the implementation of such protection in Decision No. 543/Pdt.G/2022/PN Bks from the perspective of POJK No. 27 of 2024. This research applies a normative legal method with a descriptive approach, utilizing statutory, comparative, and conceptual approaches. The data used are secondary legal materials, including primary, secondary, and tertiary legal sources, obtained through library research and analyzed qualitatively. The findings indicate that cryptocurrency is recognized as a digital financial asset that meets the criteria of virtual property under civil law. Nevertheless, its use as a means of payment remains prohibited in accordance with prevailing currency regulations. Legal protection for investors is provided through positive law, yet it remains partial and lacks specific provisions regarding Initial Coin Offerings (ICO). Decision No. 543/Pdt.G/2022/PN Bks as an example that POJK No. 27 of 2024 fills previous regulatory gaps, particularly in aspects of governance and consumer protection, by holding the organizer of the illegal investment accountable for violations of good corporate governance and unlawful product offerings outside the authorized platform.