This study examines the legal framework governing cryptocurrency exchanges and user asset protection in Indonesia. It uses normative legal research with statutory and conceptual approaches, drawing on legislation and scholarly literature. The analysis identifies gaps in platform accountability, operational security, information disclosure, dispute resolution, and compensation for user losses. The original commodity trading framework provides a regulatory foundation but does not fully address the financial and technological functions of digital asset services. The study recommends risk-based supervision, clear institutional responsibilities, stronger cybersecurity standards, transparent disclosure, consumer remedies, and effective corporate governance. It also emphasizes regulatory technology, financial literacy, and cooperation between public authorities and private operators. An adaptive legal framework is essential to promote secure, accountable, sustainable cryptocurrency trading while safeguarding users’ rights and interests.
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