Siyasah Dusturiyah: State Law Review
Vol. 1 No. 5 (2026): Siyasah Dusturiyah: State Law Review

Central Bank Digital Currency: Constitutional Reconfiguration of Monetary Sovereignty Within Web3 Architectures

Siska Sanjahaya Jahir (Unknown)
Nunut Asniar (Unknown)



Article Info

Publish Date
31 Mar 2026

Abstract

The emergence of decentralized Web3 architectures fundamentally disrupts traditional territorial monetary sovereignty, thereby challenging the constitutional mandate of state-controlled currency. This study examines the normative collision between algorithmic decentralization and state-centric monetary frameworks under the Indonesian Constitution. Employing a doctrinal legal methodology through statutory, conceptual, and functional comparative approaches, this research analyzes the central bank digital currency as a critical constitutional defense mechanism. The findings indicate that the Financial Sector Omnibus Law positions the digital fiat as a sovereign instrument to restore macroeconomic control against transnational private stablecoins. Furthermore, balancing anti-money laundering obligations with constitutional privacy rights explicitly requires a regulation-by-design architecture, specifically implementing tiered anonymity. The institutionalization of digital fiat necessitates precise legal agency attribution within permissioned smart contracts to prevent algorithmic immunity. Ultimately, this regulatory integration represents a manifestation of digital constitutionalism, renegotiating the cyberspace social contract to ensure monetary stability while proportionally protecting all fundamental civic rights.

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Journal Info

Abbrev

SDLR

Publisher

Subject

Law, Crime, Criminology & Criminal Justice

Description

Siyasah Dusturiyah: State Law Review focuses on studying and developing constitutional law, political law, and governance from both Islamic and comparative perspectives. The journal provides a platform for scholarly discussion and critical analysis of constitutionalism, state institutions, ...