IDEAS home Printed from https://ideas.repec.org/a/idn/jclijn/v2y2023i1ap1-24.html
   My bibliography  Save this article

Devising An Indonesian Legal Architecture For Metaverse Banking: Challenges And Opportunities

Author

Listed:
  • Kristianus Jimy Pratama

    (Universitas Gadjah Mada, Indonesia)

Abstract

The objective of this research is to correct misconceptions about the metaverse and metaverse banking, as well as to refute national legal perspectives on metaverse banking. It is designed to also shed some light on challenges and opportunities connected to the plan of legal architecture on metaverse banking along with its supervision and enforcement mechanisms. Metaverse banking consists of banking activities in the metaverse ecosystem. Due to the rapid development of metaverse banking on a global level and unresponsive national regulations to govern it, there is no adequate legal regulation for this activity in Indonesia. The research method is normative through literature study. This research findings illustrate persistent errors about the concept of metaverse banking including the national legal authority’s perspective on the substance of regulation. The results also show that challenges and opportunities exist for devising a legal architecture on metaverse banking accompanied by a mechanism for supervision and dispute resolution. This research contributes to as well as serves as one of the references for study on metaverse banking in Indonesia.

Suggested Citation

  • Kristianus Jimy Pratama, 2023. "Devising An Indonesian Legal Architecture For Metaverse Banking: Challenges And Opportunities," Journal of Central Banking Law and Institutions, Bank Indonesia, vol. 2(1), pages 1-24, Maret.
    • Handle: RePEc:idn:jclijn:v:2:y:2023:i:1a:p:1-24
    DOI: https://doi.org/10.21098/jcli.v2i1.48
    as

    Download full text from publisher

    File URL: https://jcli-bi.org/index.php/jcli/article/view/48/29
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.21098/jcli.v2i1.48?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:idn:jclijn:v:2:y:2023:i:1a:p:1-24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sudiro Pambudi or R. Dwi Tjahja Kusumo Wardhono (email available below). General contact details of provider: https://edirc.repec.org/data/bigovid.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.