Reconstruction of the Fiduciary Security Execution Mechanism for Blockchain-Based Assets Ensuring Legal Certainty
DOI:
https://doi.org/10.59890/ijma.v4i3.31Keywords:
Fiduciary Security, Blockchain-Based Assets, Legal Certainty, Execution Mechanism, Normative Legal ResearchAbstract
The rapid growth of blockchain-based digital assets challenges the fiduciary security framework under Law of the Republic of Indonesia Number 42 of 1999 concerning Fiduciary Security, particularly execution mechanisms. This study aims to reconstruct fiduciary execution for blockchain assets to ensure legal certainty and creditor protection. A normative legal method is used with statutory, conceptual, and case approaches, analyzing Law Number 42 of 1999, Law Number 11 of 2008 on Electronic Information and Transactions as amended by Law Number 1 of 2024, and Constitutional Court Decision Number 18/PUU-XVII/2019. Findings show fiduciary execution is not fully compatible with blockchain characteristics, especially private key control and ownership verification. The study concludes that regulatory reconstruction through digital registration and custody-based execution is required.
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