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

Saifullah Saifullah, Aditya Prastian Supriyadi, Kurniasih Bahagiati, Faishal Agil Al Munawar

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


Indonesian fintech law; illegal fintech; regulatory technology;

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DOI: https://doi.org/10.18860/j.v14i2.24025

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