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Overcoming Regulatory Hurdles in the Indonesian Crowdfunding Landscape

Volksgeist: Jurnal Ilmu Hukum dan Konstitusi · Vol. ksgeist (2023) · pp. 245–260

DOI
10.24090/volksgeist.v6i2.9447
ISSN
2615-5648, 2615-174X
Published
2023-12-30
Publisher
Faculty of Sharia, Universitas Islam Negeri (UIN) Profesor Kiai Haji Saifuddin Zuhri Purwokerto, Indonesia
Language
eng
License
creativecommons.org/licenses/by-sa/4.0

Abstract

With the exponential rise in crowdfunding, several pertinent issues have come to the fore. These include unauthorized access to personal data, exorbitant interest rates for funding recipients, and investor fund security concerns. Other issues, such as aggressive debt collection practices and misuse of donated funds, also warrant attention. The underdeveloped state of crowdfunding regulations in Indonesia, which offers insufficient legal certainty and protection, is often blamed for these issues. Thus, a thorough examination of the legal and regulatory framework governing crowdfunding in Indonesia is crucial. This study scrutinizes the legal norms, identifies, and harmonizes the diverse regulations applicable to crowdfunding in Indonesia. The findings underscore the necessity for enhancements in the laws and regulations pertinent to crowdfunding. Key areas of focus should include establishing a legal status for crowdfunding platforms, setting fair interest rates, fortifying investor fund security mechanisms, penalizing illegal crowdfunding activities, and intensifying oversight of fund usage in donation-based crowdfunding schemes. Equally crucial is the imposition of penalties for regulatory breaches in crowdfunding, reflecting a genuine commitment towards ensuring justice and legal certainty in all crowdfunding transactions.

Keywords

Collaboration network of the authors

40 authors · 93 co-authorship links · showing the 40 most connected

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • Hasanuddin University
  • Walisongo State Islamic University
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Dwi WulandariAffiliation unknown3
Alfian NoorHasanuddin University2
Nursiah La NafieAffiliation unknown2
Aqila-Syarief Muhammad AfifAffiliation unknown2
Muhammad Fazli AzmiAffiliation unknown2
Ali MaskurAffiliation unknown2
Elin HaeraniAffiliation unknown2
Fadhilah SyafriaAffiliation unknown2
Novriyanto NovriyantoAffiliation unknown2
M Natsir DjideAffiliation unknown1
Moh ArifinAffiliation unknown1
GunartoAffiliation unknown1
Bambang Tri BawonoAffiliation unknown1
Kiki Nuriska DenhasAffiliation unknown1
I Gede Widhiana SuardaAffiliation unknown1
Fendi SetyawanAffiliation unknown1
Reece WaltersAffiliation unknown1
Mashudi MashudiAffiliation unknown1
lathifah munawarohAffiliation unknown1
Ezza Naufar FissabiliAffiliation unknown1
Lintang Nurul FadilahAffiliation unknown1
A. Malthuf SirojAffiliation unknown1
Elkhairati ElkhairatiAffiliation unknown1
SupangatAffiliation unknown1
Abdul GhofurAffiliation unknown1
Anis FittriaAffiliation unknown1
Maruf MarufAffiliation unknown1
Aisa RurkinantiaWalisongo State Islamic University1
Saifudin SaifudinAffiliation unknown1
Arifana Nur KholiqAffiliation unknown1
Arina Hukmu AdilaAffiliation unknown1
Teguh SetiawanAffiliation unknown1
Else LilianiAffiliation unknown1
Adi Iwan HermawanAffiliation unknown1
Anuraga JayanegaraAffiliation unknown1
Asrori MukhtaromAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://ejournal.uinsaizu.ac.id/index.php/volksgeist/oai, first harvested 7 Nov 2026, last seen 8 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en">Overcoming Regulatory Hurdles in the Indonesian Crowdfunding Landscape</dc:title>
	<dc:creator xml:lang="en">Noor, Afif</dc:creator>
	<dc:creator xml:lang="en">Marzuki, Ismail</dc:creator>
	<dc:creator xml:lang="en">Saputro, Edy</dc:creator>
	<dc:creator xml:lang="en">Habib, Muhammad Akmal</dc:creator>
	<dc:subject xml:lang="en">Crowdfunding; Regulation; Legal Certainty; Justice.</dc:subject>
	<dc:description xml:lang="en">With the exponential rise in crowdfunding, several pertinent issues have come to the fore. These include unauthorized access to personal data, exorbitant interest rates for funding recipients, and investor fund security concerns. Other issues, such as aggressive debt collection practices and misuse of donated funds, also warrant attention. The underdeveloped state of crowdfunding regulations in Indonesia, which offers insufficient legal certainty and protection, is often blamed for these issues. Thus, a thorough examination of the legal and regulatory framework governing crowdfunding in Indonesia is crucial. This study scrutinizes the legal norms, identifies, and harmonizes the diverse regulations applicable to crowdfunding in Indonesia. The findings underscore the necessity for enhancements in the laws and regulations pertinent to crowdfunding. Key areas of focus should include establishing a legal status for crowdfunding platforms, setting fair interest rates, fortifying investor fund security mechanisms, penalizing illegal crowdfunding activities, and intensifying oversight of fund usage in donation-based crowdfunding schemes. Equally crucial is the imposition of penalties for regulatory breaches in crowdfunding, reflecting a genuine commitment towards ensuring justice and legal certainty in all crowdfunding transactions.</dc:description>
	<dc:publisher xml:lang="en">Faculty of Sharia, Universitas Islam Negeri (UIN) Profesor Kiai Haji Saifuddin Zuhri Purwokerto, Indonesia</dc:publisher>
	<dc:date>2023-12-30</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
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	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://ejournal.uinsaizu.ac.id/index.php/volksgeist/article/view/9447</dc:identifier>
	<dc:identifier>10.24090/volksgeist.v6i2.9447</dc:identifier>
	<dc:source xml:lang="en">Volksgeist: Jurnal Ilmu Hukum dan Konstitusi; Vol. 6 Issue 2 (2023) Volksgeist: Jurnal Ilmu Hukum Dan Konstitusi; 245-260</dc:source>
	<dc:source xml:lang="id">Volksgeist: Jurnal Ilmu Hukum dan Konstitusi; Vol. 6 Issue 2 (2023) Volksgeist: Jurnal Ilmu Hukum Dan Konstitusi; 245-260</dc:source>
	<dc:source>2615-5648</dc:source>
	<dc:source>2615-174X</dc:source>
	<dc:source>10.24090/volksgeist.v6i2</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://ejournal.uinsaizu.ac.id/index.php/volksgeist/article/view/9447/3651</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2023 Afif Noor, Ismail Marzuki, Edy Saputro, Muhammad Akmal Habib</dc:rights>
	<dc:rights xml:lang="en">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
</oai_dc:dc>