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August 10, 2024Asian Journal of Engineering Social and Health1 citationsOpen Access

Trends and Prevention of Cryptocurrency-Based Money Laundering Crimes

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MYMohammad Nur Bobby Putra YusraARArthur Josias Simon RunturambiBWBondan Widiawan

Key Points

  • Cryptocurrency regulations in Indonesia lack clarity, leading to increased money laundering risks.
  • The study revealed no specific anti-corruption policies targeting cryptocurrency-based crimes.
  • Qualitative methods based on interviews and secondary literature highlight significant enforcement gaps in regulation delivery and understanding in Indonesia’s market sector. The lack of consensus among law enforcement further complicates preventative measures taken against cryptocurrency crimes.

Abstract

In Indonesia, Cryptocurrency, on the one hand, is not recognized as a legal tender, so it does not have a legal umbrella, and the risk of its use is borne by the user himself. On the other hand, cryptocurrencies are included in the list of commodities that can be used as the subject of Futures Contracts traded on the Futures Exchange because, from their use, it is expected to make a positive contribution to futures trading in Indonesia. These two contradictory things of cryptocurrency regulation are then faced with a phenomenon called cryptocurrency-based TPPU. This study uses a descriptive method combined with a qualitative approach. The data in this study is primary data sourced from the results of interviews and data from the Metro Jaya Police, and the secondary data used to support the research is literature in the form of books, research journals and online scientific journal data. The data that has been collected is analyzed by data reduction methods and triangulation techniques. The location of the research is the Metro Jaya Police and the University of Indonesia Library. From this study, it is known that in Indonesia, there are no special rules governing this cryptocurrency-based anti-corruption, and there has been no cooperation between law enforcement for its prevention.

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Cite This Study

Yusra et al. (2024) studied this question.

synapsesocial.com/papers/68e5cc6bb6db643587562b30https://doi.org/10.46799/ajesh.v3i8.378
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