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THE EVALUATION OF THE INDONESIAN FINTECH LAW FROM THE PERSPECTIVE OF REGULATORY TECHNOLOGY PARADIGMS TO MITIGATE ILLEGAL FINTECH

Jurisdictie : Jurnal Hukum dan Syariah · Vol. 14 No. 2 (2024) · pp. 233–264

DOI
10.18860/j.v14i2.24025
ISSN
2528-3383, 2086-7549
Published
2024-01-10
Publisher
Fakultas Syariah
Language
eng
License
creativecommons.org/licenses/by-sa/4.0

Abstract

Illegal fintech is one of the main issues not fully addressed in the digital finance sector in Indonesia despite various legal regulations. This condition shows that the fintech legal framework in Indonesia still needs to be entirely relevant to the concept of Regulatory Technology (regtech). This study aims to analyze the position of the fintech legal framework in Indonesia in overcoming illegal fintech with a regtech approach chosen as an analytical instrument—a basic concept that combines law and digital financial technology to create an orderly platform and comply with all applicable laws. This article uses normative-legal research methods and a conceptual approach, indicating that the legal framework governing fintech in Indonesia fragments, with rules spreading across the civil, administrative, and criminal sectors. This legal framework still needs to be reinforced as a legal tool to overcome the problem. Based on the regtech approach, increased transparency and accountability in fintech implementation are essential as legal support for dynamic supervision and law enforcement and to allow for wider access to cooperation between stakeholders in handling illegal fintech. Such measures will help create a more effective legal environment and align with the regtech paradigm in addressing illegal fintech practices in Indonesia. Fintech ilegal merupakan salah satu isu utama yang belum sepenuhnya tertangani di sektor keuangan digital di Indonesia, meskipun telah diterbitkan berbagai peraturan hukum. Kondisi ini menunjukkan bahwa kerangka hukum fintech di Indonesia memerlukan evaluasi berdasarkan paradigma Regulatory Technology (RegTech). Penelitian ini bertujuan untuk menganalisis posisi kerangka hukum fintech di Indonesia dalam mengatasi permasalahan fintech ilegal dengan pendekatan RegTech. RegTech dipilih sebagai instrumen analisis karena merupakan konsep dasar yang menggabungkan hukum dan teknologi keuangan digital untuk menciptakan platform yang tertib dan mematuhi semua hukum yang berlaku. Penulisan artikel ini menggunakan metode penelitian hukum normatif dengan pendekatan konseptual. Hasil penelitian menunjukkan bahwa kerangka hukum yang mengatur fintech di Indonesia masih terfragmentasi dengan aturan yang tersebar di sektor perdata, administrasi, dan pidana. Kerangka hukum ini masih perlu diperkuat sebagai alat hukum untuk mengatasi masalah fintech ilegal. Berdasarkan pendekatan RegTech, diperlukan peningkatan transparansi dan akuntabilitas dalam implementasi fintech, sebagai dukungan hukum atas pengawasan dan penegakan hukum yang dinamis serta dukungan hukum untuk membuka saluran kerja sama antar pemangku kepentingan dalam penanganan fintech ilegal. Langkah-langkah tersebut akan membantu menciptakan lingkungan hukum yang lebih efektif dan selaras dengan paradigma RegTech dalam menangani praktik fintech ilegal di Indonesia.

Keywords

Collaboration network of the authors

40 authors · 98 co-authorship links

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

  • Institut Agama Islam Negeri Kendari
  • Universitas Islam Negeri Sultan Syarif Kasim Riau
  • Universitas Islam Negeri Salatiga
  • Universitas Syiah Kuala
  • Sekolah Tinggi Teknologi Migas
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Mustafa LutfiAffiliation unknown6
Ramadhita RamadhitaAffiliation unknown3
Asrul Ibrahim NurAffiliation unknown2
Marzuki MarzukiInstitut Agama Islam Negeri Kendari1
Safriadi SafriadiAffiliation unknown1
Teuku ZulkhairiAffiliation unknown1
Ibnu HajarAffiliation unknown1
Musleh HarryAffiliation unknown1
Jundiani JundianiAffiliation unknown1
Meisy FajaraniAffiliation unknown1
Masyhuri PutraUniversitas Islam Negeri Sultan Syarif Kasim Riau1
Muhammad Pradipa WicaksonoAffiliation unknown1
Nixson NixsonAffiliation unknown1
Lukmanul HakimAffiliation unknown1
Iffaty Nasyi’ahAffiliation unknown1
Khoirul HidayahAffiliation unknown1
Roibin RoibinAffiliation unknown1
Rayno Dwi AdityoAffiliation unknown1
Arif HidayatAffiliation unknown1
Agus PurnomoUniversitas Islam Negeri Salatiga1
Nor SalamAffiliation unknown1
Sirojuddin AhmadAffiliation unknown1
Badruddin BadruddinAffiliation unknown1
Dwi FidhayantiAffiliation unknown1
Mohd Shahid bin Mohd NohAffiliation unknown1
Abdul AzisUniversitas Syiah Kuala1
Jamaluddin JamaluddinSekolah Tinggi Teknologi Migas1
Kasmuri KasmuriAffiliation unknown1
Afrizal MansurAffiliation unknown1
Muhammad MarizalAffiliation unknown1
Ibrahim Sulaiman HanaishAffiliation unknown1
Zikri DarussaaminAffiliation unknown1
Sheila Kusuma Wardani AmnestiAffiliation unknown1
Siti ZulaichaAffiliation unknown1
Joko SutrisnoAffiliation unknown1
A FawziAffiliation 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) http://ejournal.uin-malang.ac.id/index.php/jurisdictie/oai, first harvested 9 Nov 2026, last seen 9 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">THE EVALUATION OF THE INDONESIAN FINTECH LAW FROM THE PERSPECTIVE OF REGULATORY TECHNOLOGY PARADIGMS TO MITIGATE ILLEGAL FINTECH</dc:title>
	<dc:creator>Saifullah, Saifullah</dc:creator>
	<dc:creator>Supriyadi, Aditya Prastian</dc:creator>
	<dc:creator>Bahagiati, Kurniasih</dc:creator>
	<dc:creator>Al Munawar, Faishal Agil</dc:creator>
	<dc:subject xml:lang="en-US"></dc:subject>
	<dc:subject xml:lang="en-US">Indonesian fintech law; illegal fintech; regulatory technology;</dc:subject>
	<dc:description xml:lang="en-US">Illegal fintech is one of the main issues not fully addressed in the digital finance sector in Indonesia despite various legal regulations. This condition shows that the fintech legal framework in Indonesia still needs to be entirely relevant to the concept of Regulatory Technology (regtech). This study aims to analyze the position of the fintech legal framework in Indonesia in overcoming illegal fintech with a regtech approach chosen as an analytical instrument—a basic concept that combines law and digital financial technology to create an orderly platform and comply with all applicable laws. This article uses normative-legal research methods and a conceptual approach, indicating that the legal framework governing fintech in Indonesia fragments, with rules spreading across the civil, administrative, and criminal sectors. This legal framework still needs to be reinforced as a legal tool to overcome the problem. Based on the regtech approach, increased transparency and accountability in fintech implementation are essential as legal support for dynamic supervision and law enforcement and to allow for wider access to cooperation between stakeholders in handling illegal fintech. Such measures will help create a more effective legal environment and align with the regtech paradigm in addressing illegal fintech practices in Indonesia.

Fintech ilegal merupakan salah satu isu utama yang belum sepenuhnya tertangani di sektor keuangan digital di Indonesia, meskipun telah diterbitkan berbagai peraturan hukum. Kondisi ini menunjukkan bahwa kerangka hukum fintech di Indonesia memerlukan evaluasi berdasarkan paradigma Regulatory Technology (RegTech). Penelitian ini bertujuan untuk menganalisis posisi kerangka hukum fintech di Indonesia dalam mengatasi permasalahan fintech ilegal dengan pendekatan RegTech. RegTech dipilih sebagai instrumen analisis karena merupakan konsep dasar yang menggabungkan hukum dan teknologi keuangan digital untuk menciptakan platform yang tertib dan mematuhi semua hukum yang berlaku. Penulisan artikel ini menggunakan metode penelitian hukum normatif dengan pendekatan konseptual. Hasil penelitian menunjukkan bahwa kerangka hukum yang mengatur fintech di Indonesia masih terfragmentasi dengan aturan yang tersebar di sektor perdata, administrasi, dan pidana. Kerangka hukum ini masih perlu diperkuat sebagai alat hukum untuk mengatasi masalah fintech ilegal. Berdasarkan pendekatan RegTech, diperlukan peningkatan transparansi dan akuntabilitas dalam implementasi fintech, sebagai dukungan hukum atas pengawasan dan penegakan hukum yang dinamis serta dukungan hukum untuk membuka saluran kerja sama antar pemangku kepentingan dalam penanganan fintech ilegal. Langkah-langkah tersebut akan membantu menciptakan lingkungan hukum yang lebih efektif dan selaras dengan paradigma RegTech dalam menangani praktik fintech ilegal di Indonesia.</dc:description>
	<dc:publisher xml:lang="en-US">Fakultas Syariah</dc:publisher>
	<dc:contributor xml:lang="en-US"></dc:contributor>
	<dc:date>2024-01-10</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
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	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
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	<dc:identifier>http://ejournal.uin-malang.ac.id/index.php/jurisdictie/article/view/24025</dc:identifier>
	<dc:identifier>10.18860/j.v14i2.24025</dc:identifier>
	<dc:source xml:lang="en-US">Jurisdictie: Jurnal Hukum dan Syariah; Vol 14, No 2 (2023): Jurisdictie; 233 - 264</dc:source>
	<dc:source>2528-3383</dc:source>
	<dc:source>2086-7549</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>http://ejournal.uin-malang.ac.id/index.php/jurisdictie/article/view/24025/pdf</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2024 Jurisdictie: Jurnal Hukum dan Syariah</dc:rights>
	<dc:rights xml:lang="en-US">https://creativecommons.org/licenses/by-sa/4.0</dc:rights>
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