#11767. Urgency of financial technology (Fintech) laws in Indonesia

July 2026publication date
Proposal available till 20-05-2025
4 total number of authors per manuscript0 $

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Journal’s subject area:
Law;
Organizational Behavior and Human Resource Management;
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Abstract:
This paper aims to elaborate the reasons why the countries need Law on Fintech. This paper also identifies the flaws in the existing regulations and policies on Fintech, and it also proposes an ideal framework for a fintech law as a strategy to strengthen consumer protection and to accelerate the growth of the digital economy. The promising potential and growth of the fintech industry need to be supported by a sound legal framework in the form of Law. This results in inadequate consumer protection measures. The Investment Alert Task Force reported 2,018 illegal P2P lending, 472 illegal investment companies and 69 illegal pawnbrokers. This research is expected to increase protection for consumers, investors and providers of fintech services and accelerate the growth of the digital economy. Regulating fintech in the Law is meant to give legal certainty and better legal protection for consumers, investors and providers of fintech services. Seeing that the value of the digital economy in 20XX has reached USD40bn, the country is philosophically, juridically and sociologically in urgent need of Fintech Law.
Keywords:
Business law; Digital economy; Financial technology; Financial technology law; Law and regulation

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