Trading Digitalization: Legal Awareness in the Disruption Era

  • Anindya Aryu Inayati Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan Indonesia
  • Noorma Fitriana M. Zain Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan Indonesia
  • Nur Afifah Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan Indonesia
  • Eko Nur Cahyo Centre for Trust, Peace, and Social Relations, Conventry University, United Kingdom

Abstract

The digitalization of trading is developing rapidly, but legal awareness has not been well developed. Although digital trading is fairly new in the world of economics in this country, it has been able to attract the attention of many people, especially business people, to become traders. Digital trading refers to trading activities using applications on smartphones or trading software commonly called trading robots. But unfortunately, the rise of digital trading activities is not accompanied by regulations that guarantee the safety of novice traders. Together with the inhabitants of Pekalongan's ignorance of the rules and laws pertaining to trading activities on the capital market. The purpose of this study is to examine the factors that prevent Pekalongan citizens from being aware of the legal implications of digital trading and know the implications of the lack of legal awareness of the people of Pekalongan regarding digital trading. This study employs both statutory and conceptual approaches and is grounded in empirical legal research. Techniques for descriptive qualitative data analysis. The population of Pekalongan served as the sample for this study, which used a random sampling technique. The findings of this study indicate that low literacy rates and a lack of interest in commodities trade are the main causes of the lack of legal awareness among Pekalongan residents (trading). The consequences of the people of Pekalongan's lack of legal awareness with regard to digital trading are: 1) They lack legal protection in transactions involving digital trading, and 2) They are vulnerable to fraud and losses in such transactions.

Downloads

Download data is not yet available.

References

Abouloula, K., & Krit, S. (2018). Using a Robot Trader for Automatic Trading. Proceedings of the Fourth International Conference on Engineering & MIS 2018, 1–9.
Actoty, E., & Muratbaevna, K. A. (2015). The Concept of Legal Awareness, Value, Interpretation and Content. Austrian Journal of Humanities and Social Sciences, 2(3–4), 71–73.
Azmeh, S., Foster, C., & Echavarri, J. (2020). The International Trade Regime and The Quest for Free Digital Trade. International Studies Review, 22(3), 671–692.
Buvabaevna, K. K. (2022). Raising The Legal Awareness And Legal Culture of Citizens in Society. Science and Innovation: International Scientific Journal, 4(B.4), 415–419.
Drozdova, A. M., Balakireva, L. M., Vorotilina, T. V., Makarova, E. V., & Meleshkin, V. V. (2019). Legal Awareness And Legal Culture as Elements and Means for The Implementation of A Mechanism for Ensuring The Legal Impact. Opción: Revista de Ciencias Humanas y Sociales, 89, 245.
Fauzia, A., Hamdani, F., & Octavia, D. (2021). The Revitalization of The Indonesian Legal System in The Order of Realizing The Ideal State Law. Progressive Law Review, 3(1), 12–25.
Hart, H. L. . (1997). The Concept of Law. Clarendon Press.
Indarti, M. F. (2007). Ilmu Perudang-Undangan: Proses dan Teknik Pembentukannya. Penerbit Kanisius.
Jones, E., & Adam, C. (2023). New Frontiers of Trade and Trade Policy: Digitalization and Climate Change. Oxford Review of Economic Policy, 39(1), 1–11.
Kenedi, J. (2015). Studi Analisis Terhadap Nilai-Nilai Kesadaran Hukum Dalam Pendidikan Kewarganegaraan Di Perguruan Tinggi Islam. Jurnal Madania, 19(02), 206.
Kozhukhova, M., & Zhiyenbayev, M. (2018). Conceptualizing Legal Culture and Legal Awareness: Meaning and Structural Components. SHS Web of Conferences, 55, 02009.
Manggala, G. D. (2022). Hukum Ekonomi Islam Terhadap Keabsahan Investasi Keuangan Online Forex Robot Trading. Jurnal Ekonomi Dan Bisnis, 06(No. 1), 40–48.
Marune, A. E. M. S., & Hartanto, B. (2021). Strengthening Personal Data Protection, Cyber Security, and Improving Public Awareness in Indonesia: Progressive Legal Perspective. International Journal of Business, Economics, and Social Development, 2(4), 143–152.
Mertokusumo, S. (2003). Bunga Rampai Ilmu Hukum. Liberti.
Naibaho, Y. P. J. (2022). Penanganan Tindak Pidana Investasi Bodong Oleh Satgas Waspada Investasi (Studi Kasus: Robot Crypto Fahrenheit). Universitas Kristen Indonesia.
Rose, A. M. (1964). A Current Theoretical Issue in Social Gerontology. The Gerontologist. Oxfordjournals, 4(No. 1), 46–50.
Sidik, S. (2021). Meledak! Investor Pasar Modal RI Nyaris 7,5 Juta. Cnbcindonesia.Com.
Soekanto, S. (2002). Kesadaran Hukum dan Kepatuhan Hukum. Raja Grafindo Persada.
Soesatyo, B. (2022). Membenahi Kesenjangan Dalam Digital Trading di Indonesia. Antara: Kantor Berita Indonesia, 1–19.
Vasily, L., & Vladimir, F. (2020). Legal awareness in a digital society. Russian Law Journal, 8(1), 138–157.
Widjaja, G. (2022). Public Understanding Of Robotic Trading In The Context Of Trading Law: Strengths And Weaknesses. Webology, 19(1).
Published
2023-03-26
How to Cite
INAYATI, Anindya Aryu et al. Trading Digitalization: Legal Awareness in the Disruption Era. Adzkiya : Jurnal Hukum dan Ekonomi Syariah, [S.l.], v. 11, n. 1, p. 1-11, mar. 2023. ISSN 2355-4215. Available at: <https://e-journal.metrouniv.ac.id/adzkiya/article/view/6519>. Date accessed: 17 june 2024. doi: https://doi.org/10.32332/adzkiya.v11i1.6519.