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Journal : Law Development Journal

The Legal Risks for Investors Due to Market Manipulation in the Cryptocurrency Market Fajar, Rahula; Sugiyono, Heru
Law Development Journal Vol 5, No 4 (2023): December 2023
Publisher : Universitas Islam Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ldj.5.4.430-442

Abstract

This study aims to explore the intricate legal landscape surrounding the cryptocurrency market in Indonesia, specifically addressing the prevalent challenges and risks of market manipulation. The writing method is anchored on a comprehensive examination of primary, secondary, and tertiary legal resources, including pivotal legislations such as the Capital Market Regulation (UUPM) and various other Indonesian laws. Furthermore, a library research technique has been employed, drawing from a broad spectrum of theoretical studies, past literature, and expert opinions to provide a holistic understanding of the subject. The novelty of this study emerges from its specialized focus on market manipulation within the rapidly evolving context of the Indonesian cryptocurrency realm. This focus differentiates it from more generic studies on cryptocurrency, offering tailored insights and recommendations for the Indonesian scenario. Based on the research undertaken, we conclude that Indonesia's strategic and proactive legal measures, coupled with the inherent advantages of regulated cryptocurrency platforms, play a pivotal role in countering market manipulation risks. For the practical application of these findings, it is imperative for Indonesian policymakers and regulatory entities to sustain an adaptive approach, ensuring continuous monitoring and timely updates to the legal frameworks. This adaptability guarantees their resonance with the ever-shifting paradigms of the cryptocurrency domain. Additionally, the research underscores the significance of robust investor education initiatives and advocates for a synergistic collaboration between regulatory bodies, cryptocurrency platforms, and the broader investor community. Such collaborative efforts are instrumental in nurturing a transparent, secure, and resilient cryptocurrency environment in Indonesia, setting a benchmark for similar emerging markets globally.
The Role of E-Commerce Platforms in Resolving Breach of Contract Disputes Related to the Delivery of Goods Not in Accordance with Consumer Orders by Business Actors Fikri, Muhammad; Sugiyono, Heru
Law Development Journal Vol 7, No 2 (2025): June 2025
Publisher : Universitas Islam Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ldj.7.2.%p

Abstract

This research discusses the role of e-commerce platforms in resolving default disputes in e-commerce transactions with a focus on the case of delivery of goods not according to order as the object of research. The purpose of this research is to analyze the effectiveness of legal protection for consumers as well as the role of the platform in resolving such disputes. This research uses normative juridical method with statutory approach and case study. The results show that although there is a legal basis in the form of the Consumer Protection Law and its implementing regulations, implementation in the field is still not optimal. The obstacles faced include low consumer legal literacy, lack of transparency in the dispute resolution mechanism in the platform, and the lack of connection between the platform's internal system and the official dispute resolution institution. In addition, e-commerce platforms have not fully carried out their responsibilities as organizers of the digital transaction ecosystem. This research concludes that strategic steps are needed in the form of strengthening regulations, integrating dispute resolution systems with official institutions, and increasing legal education for consumers in order to create a fair, fast and sustainable dispute resolution mechanism.
The Measuring Effectiveness of Centralization of Indonesian Coal Mineral Mining Licensing Suwarsit, Suwarsit; Sugiyono, Heru; Ramadhani, Dwi Aryanti; Tarina, Dwi Desi Yayi
Law Development Journal Vol 7, No 3 (2025): September 2025
Publisher : Universitas Islam Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ldj.7.3.355-374

Abstract

Measuring the effectiveness of centralizing coal mineral mining licensing in Indonesia is important for conducting research to measure the success of business actors in obtaining business certainty. There are indications of failure to centralize Indonesian coal mineral mining licensing, which can hamper the business being operated and reduce the trust of business actors in the Indonesian Government. This type of research is normative juridical research using second party data such as articles and laws and regulations up to court decisions which are then presented in descriptive form. The novelty of this research that distinguishes it from previous research is the analysis of ministerial-level regulations and legal processes carried out by several business actors at the State Administrative Court Institution to obtain business certainty. The results showed that several business actors to obtain certainty of license implementation such as PT Perdana Maju Utama, PT Fajar Bahari, PT Mandiri Biofuels, PT Sri Mulya Agung, PT Garuda Agung Perkasa, and CV Siti Maju Sejahtera, did not go well which was marked by filing a lawsuit at the State Administrative Court Institution to the Government of Indonesia, so that the non-implementation of centralization of mineral and coal mining licenses was not only carried out by business actors but also by the State as the licensor.
Legal Certainty of Homologation in Postponement of Debt Payment Obligations on The Fulfillment of Consumer Rights as Concurrent Creditors (Study: Cikarang District Court Decision No. 87/Pdt.G/2021/Pn Ckr) Rizal, Sultan Ahmad; Sugiyono, Heru
Law Development Journal Vol 7, No 3 (2025): September 2025
Publisher : Universitas Islam Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ldj.7.3.436-449

Abstract

The legal instrument designed to shield financially distressed companies becomes a weapon that harms their consumers. This research illuminates this irony, demonstrating how a court-sanctioned debt restructuring agreement (homologation) under the Suspension of Debt Payment Obligations (PKPU) process, while ostensibly promising legal certainty, in practice strips property buyers of their rights. The Meikarta case vividly illustrates how easily consumers, despite significant financial investment, are relegated to the status of unsecured creditors with virtually nonexistent bargaining power. Where, then, does justice lie for them? This study seeks to answer this question by examining the tangible impacts of the homologation process and arguing that corporate accountability should not cease merely with a court decree. Moving beyond a textual analysis of statutes, this research delves into a pivotal decision by the Cikarang District Court (No. 87/Pdt.G/2021/PN Ckr) that dared to break from tradition. The findings are illuminating: while a homologation agreement is legally binding on all parties, a judge need not be a rigid "mouthpiece of the law" (bouche de la loi). Through legal discovery (rechtsvinding), a judge can progressively interpret rules to protect the vulnerable. The court's decision in this case to proceed with the consumer's lawsuit, notwithstanding the pre-existing PKPU decree, marks a crucial paradigm shift. It serves as a testament to the feasibility of achieving substantive justice, and this study dissects how such judicial courage can offer new hope for consumers entangled in complex legal disputes.