LEGAL ANALYSIS OF THE IMMUTABLE AND PSEUDONYMOUS NATURE OF CRYPTO ASSET BLOCKCHAIN IN INDONESIA FROM A PERSONAL DATA PROTECTION PERSPECTIVE
DOI:
https://doi.org/10.56861/nalarnagara.v1i3.126Keywords:
Blockchain, Crypto Assets, Cyberlaw, Immutability, Personal Data Protection, Right to Erasure, Blockchain, Aset Kripto, Hukum Siber, Ketidakberubahan, Perlindungan Data Pribadi, Hak untuk PenghapusanAbstract
Technological advancements frequently create a tension between regulatory frameworks and practical realities. Law Number 27 of 2022 on Personal Data Protection (the PDP Law), which serves as the foundation for data protection regulation in Indonesia, faces various challenges, particularly regarding crypto asset trading utilizing blockchain technology. This article examines the legal issues arising from the unique characteristics of blockchain technology in crypto assets, specifically its immutable nature and pseudonymous transactions. This research employs statutory and conceptual approaches, utilizing literature review techniques for data collection. The findings reveal a contradiction that creates legal uncertainty between the immutable nature of blockchain in crypto asset trading and the right to erasure mandated by Article 8 of the PDP Law. Furthermore, it highlights the challenges surrounding law enforcement and legal protection regarding pseudonymous crypto asset transactions, which present a high risk of exploitation and cybercrime. To address these issues, this study recommends the formulation of responsive and progressive regulations specifically governing the technical aspects of crypto asset trading and blockchain. Additionally, optimizing synergy between relevant regulations and institutional bodies, implementing a hybrid on-chain/off-chain storage mechanism, and robustly applying Know Your Customer (KYC) principles can serve as comprehensive solutions to ensure legal certainty for personal data protection in Indonesia.
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