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Equity-Based Crowdfunding in The Scheme Of Share Offering as an Expansion of The Categorization of Capital Market Activities: Implications and Orientation Tuhana
Pena Justisia: Media Komunikasi dan Kajian Hukum Vol. 24 No. 1 (2025): Pena Justisia
Publisher : Faculty of Law, Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/pj.v24i1.5955

Abstract

The development of equity-based crowdfunding has become an expansion of the categorization of the capital market by fintech companies, potentially offering applications that function to connect owners with start-ups or Small and Medium Enterprises (SMEs) that need a capital injection. Problems arise when various regulations in Indonesia do not specifically address equity-based crowdfunding. This research aims to analyze the legal implications of the suboptimal regulation of equity-based crowdfunding, particularly in legislation, and how the future regulatory orientation relates to equity-based crowdfunding. This research is a normative legal study that emphasizes a conceptual and legislative approach. The research findings emphasize that the regulation of equity-based crowdfunding in Indonesia related to the capital market still does not provide clear legal certainty. This activity has not yet been detailed in the law, resulting in legal uncertainty that can harm investors and entrepreneurs. The ongoing practices are not yet equipped with regulations on accountability, transparency, and adequate legal protection. This also hinders small and medium-sized enterprises' access to crowdfunding platforms that can expand networks and technology. Therefore, more comprehensive regulations are needed, including technical and procedural regulations, the establishment of an independent regulatory body, licensing regulations for platforms, and strict supervision to protect investors and entrepreneurs. With these measures, it is hoped that equity-based crowdfunding practices can develop safely and efficiently in Indonesia
FUNCTIONAL DEGRADATION OF FIDUCIARY CREDITOR'S PREFERENT RIGHTS AFTER THE CONSTITUTIONAL COURT'S DECISION Restu Arif Hanavi; Tuhana; Agus Riwanto
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 6 No. 5 (2026): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

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Abstract

This article analyzes the functional degradation of fiduciary creditors' preferential rights after Constitutional Court Decision Number 18/PUU-XVII/2019. The study argues that the decision did not abolish fiduciary creditors' preferential rights, but transformed their practical realization from direct parate execution into conditional parate execution. Using normative legal research with statutory, case, and conceptual approaches, supported by documented socio-legal cases, this article examines the relationship between Article 15, Article 27, and Article 29 of the Fiduciary Security Law and the Constitutional Court's interpretation of default and voluntary surrender. The findings show that before the decision, fiduciary certificates and parate execution strengthened the economic value of preferential rights, but also enabled unilateral repossession practices. After the decision, debtor protection increased, yet disputed default or refusal to surrender the collateral creates procedural similarities with ordinary debt-collection disputes and produces economic consequences for creditors through higher transaction costs, longer recovery time, depreciation risks, and weaker recovery certainty.
Pengaturan Data Digital Sebagai Objek Hak Kebendaan Menurut Hukum Perdata Indonesia Lusyana Ratna Fahradila; Tuhana
Indonesian Journal of Law Vol. 3 No. 5 (2026): INLAW - Mei 2026
Publisher : PT. INOVASI TEKNOLOGI KOMPUTER

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Abstract

Penelitian ini bertujuan untuk menganalisis pengaturan data digital yang bernilai ekonomi dalam sistem hukum perdata Indonesia, dengan menggunakan teori kepastian hukum Hans Kelsen sebagai kerangka analisis utama. Penelitian hukum normatif ini menggunakan pendekatan preskriptif melalui metode perundang-undangan, komparatif, dan konseptual. Hasil penelitian mengungkapkan bahwa regulasi data digital di Indonesia tersebar secara fragmentatif dalam empat instrumen hukum utama: Kitab Undang-Undang Hukum Perdata (KUHPerdata), Undang-Undang Informasi dan Transaksi Elektronik beserta perubahannya, Undang-Undang Pelindungan Data Pribadi, dan Undang-Undang Hak Cipta. Masing-masing regulasi menggunakan pendekatan yang berbeda tanpa harmonisasi yang memadai, sehingga menimbulkan kekosongan normatif (rechtsvacuum) yang signifikan, khususnya mengenai status kepemilikan data non-pribadi yang bernilai ekonomi. Analisis komparatif dengan Uni Eropa, Amerika Serikat, Jepang, dan Tiongkok menunjukkan perlunya pengembangan kerangka hukum yang secara eksplisit mengakui data digital sebagai objek hak kebendaan