The Regulatory Vacuum Regarding the Use of Cryptocurrencies as Collateral in Indonesian Banking Law

Ahmad Gautsul Anam; Wanda Paradina

Authors

Ahmad Gautsul Anam Akademi Bisnis Lombok Author
Wanda Paradina Columbia University Author

Keywords:

Crypto Assets, Collateral, Banking Law, Normative Gap, Legal Reconstruction

Abstract

This study examines the normative vacuum in the regulation of crypto assets as collateral objects under Indonesian banking law. As digital assets gain traction in the financial ecosystem, the legal framework governing their use as collateral remains underdeveloped and fragmented. Indonesian banking law anchored primarily in Law No. 10 of 1998 on Banking and the Fiduciary Guarantee Law No. 42 of 1999 does not explicitly recognize intangible digital assets such as crypto assets as permissible collateral objects. This legal gap creates uncertainty for both creditors and debtors engaging in crypto-backed lending arrangements. Using a normative legal research approach with statutory, conceptual, and comparative analyses, this study identifies two core issues: first, the extent of the normative gap in existing Indonesian banking law regarding crypto assets as collateral; and second, the legal reconstruction needed to bridge that gap. The findings reveal that current regulations are inadequate to accommodate the dynamic nature of crypto assets and that reform whether through legislative amendment or regulatory issuance by the Financial Services Authority is urgently needed. This study contributes to the growing body of scholarship on digital asset law and provides policy recommendations for Indonesian regulators.

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