MENAKAR PERLINDUNGAN HUKUM INVESTOR DIGITAL MELALUI SIFAT SELF-EXECUTING

Abstract

Pesatnya perkembangan investasi digital di Indonesia ditandai dengan maraknya teknologi blockchain dan smart contract yang bersifat self-executing. Karakteristik ini menawarkan efisiensi tinggi melalui prinsip code is law yang mutlak dan irreversible. Namun, rigiditas teknologi ini memicu problematika yuridis ketika dihadapkan pada risiko bug code, manipulasi algoritma, dan cacat kehendak, sehingga menciptakan kesenjangan hukum serta posisi tawar asimetris bagi investor dalam ekosistem finansial terdesentralisasi.Penelitian hukum yuridis normatif ini menggunakan pendekatan perundang-undangan (statute approach) dan konseptual (conceptual approach) untuk menganalisis sinkronisasi regulasi, asas hukum kontrak, serta doktrin perlindungan konsumen. Hasil penelitian menunjukkan bahwa smart contract telah memenuhi validitas formal kontrak elektronik berdasarkan UU ITE. Namun, sifat irreversible-nya berbenturan diametral dengan mekanisme pembatalan perjanjian dalam Pasal 1320 KUHPerdata jika ditemukan penipuan atau kekeliruan. Meskipun UU Nomor 4 Tahun 2023 memperkuat wewenang OJK, instrumen perlindungan represif saat ini belum mampu mengintervensi eksekusi otomatis yang dikunci kode pemrograman, sehingga menciptakan kekosongan hukum (rechtvacuum) operasional.Sebagai saran, OJK bersama kementerian terkait perlu menerbitkan regulasi teknis yang mewajibkan audit teknologi (smart contract audit) independen sebelum produk dilepas ke publik. Selain itu, perlu dibentuk lembaga Online Dispute Resolution (ODR) khusus yang putusannya memiliki daya ikat eksekusi keperdataan terhadap sistem otomatis platform investasi.

The rapid development of digital investment in Indonesia is marked by the widespread use of blockchain technology and self-executing smart contracts. This characteristic offers high efficiency through the absolute and irreversible principle of code is law. However, its technological rigidity triggers serious legal issues when faced with risks of bug codes, algorithmic manipulation, and defects of will, creating a legal gap and an asymmetric bargaining position for investors in a decentralized financial ecosystem. This normative legal research utilizes a statutory approach and a conceptual approach to analyze regulatory synchronization, contract law principles, and consumer protection doctrines. The results show that smart contracts fulfill the formal validity of electronic contracts under the UU ITE. However, their irreversible nature is diametrically opposed to the agreement cancellation mechanism in Article 1320 of the Indonesian Civil Code (KUHPerdata) regarding fraud or error. Although Law No. 4/2023 strengthens OJK's authority, current repressive protection instruments cannot intervene in automated executions locked by programming code, creating an operational legal vacuum (rechtvacuum). Conclusively, OJK and relevant ministries should mandate independent smart contract audits prior to public release. Furthermore, a specialized Online Dispute Resolution (ODR) institution with binding civil execution power over automated systems must be established.