Computer File

Tinjauan yuridis-normatif wewenang dana moneter internasional dalam menghadapi ancaman penggunaan bitcoin terhadap penerapan prinsip kedaulatan moneter

Bitcoin is the first private currency stored in the form of electronic files
which invented by a person, company or community named Satoshi Nakamoto in 2009. Bitcoin 's primary features: enabling users to conclude business transaction without any intermediaries and guarantee the anonymity of them, make it popular and accepted as medium of payment not only among vendors in the internet but also in the real life. Furthermore, users can now easily get it by exchanging the legal tender currencies to Bitcoin through certain websites and applications. The close interaction between Bitcoin and legal tender currencies could jeopardize the international financial stability through the speculative attack. A speculative attack on a currency occurs when a speculator wishes to take advantage of a "weak currency", a currency that has depreciated in value relative to other currencies. Speculators typically sell the weak currency to commercial banks through long-dated forward contracts. By the time the forward contracts matures, the bank is forced to buy the weak currency for more than it is worth when the contract was
concluded (maturity mismatch). The difference in amount of currency bank accepted from the forward contract gradually depletes the bank's supply of the attacked currency over time. If that bank is lacking the supply of the attacked currency, it can rely on their country's central bank for assistance. In order for a central bank to absorb the maturity mismatches of that bank, the central bank must have a reserve of currency upon which to draw. In the event of emergency, where the central bank does not have a currency reserve, the nation served by the central bank can turn to the International Monetary Fund ("IMF") for assistance, provided that nation is a member. The IMP, through the quota system based on Article IV in Articles of Agreement, will allow that nation to purchase the attacked currency with their national currency. The help of the IMF as explained above can only be done if there is authority of the state to issue its currency. In the case of speculative attack caused by Bitcoins, the current system of the IMF cannot accommodate the nation who runs out of the Bitcoin's supply to stabilize its balance of payment. In other words, without the ability to of fer digital currency as part of its currency reserves, the IMF would be ill-equipped to ensure global economic stability in a future where digital currency becomes a major player.

Ketersediaan

Informasi Detail

Judul Seri

No. Panggil

SKP-FH REN t/15

Penerbit

Bandung : Program Studi Ilmu Hukum Fakultas Hukum - UNPAR., 2015

Deskripsi Fisik

x, 74 p. ; 30 cm.

Bahasa

Indonesia

ISBN/ISSN

-

Klasifikasi

-

Tipe Isi

-

Tipe Media

-

Tipe Pembawa

-

Edisi

-

Subjek

-

Info Detail Spesifik

3364 - FH

Pernyataan Tanggungjawab

Nadya Renatta

Versi lain/terkait

Lampiran Berkas

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