Author(s): Anak Agung Alit Satya Prananda and Kadek Januarsa Adi Sudharma

Abstract: This research analyses the regulation and law enforcement related to cryptocurrency as a money laundering tool in Indonesia compared to the United States. Through normative legal research methods and a comparative approach, the regulations in both countries are compared. In the United States, government agencies such as FinCEN, IRS, and SEC play an important role in law enforcement against the use of cryptocurrencies for money laundering, while Indonesia relies on BAPPEBTI to regulate and supervise these activities. While the United States has more comprehensive laws and a more advanced enforcement infrastructure, Indonesia has also taken significant steps to address this issue, including through the implementation of the "Travel Rule" to monitor cryptocurrency transactions. However, a key challenge faced in both countries is the anonymity of cryptocurrencies, which makes money laundering investigations difficult. To address this issue, more detailed regulations as well as better international co-operation are needed to prevent the misuse of cryptocurrencies as a means of money laundering.

DOI: 10.22271/2790-0673.2024.v4.i2a.120

Pages: 22-28 | Views: 436 | Downloads: 240

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