Technology has transformed payment systems. Regulated digital money transactions are replacing traditional cash transactions. However, policy frameworks on payment systems often neglect to consider the diverse needs of society despite the critical role that payment systems play in society. This can be seen by the increasingly mandatory use of electronic money, which may exclude groups who have relied on traditional cash transactions but have unequal technological access. This paper explores the importance of electronic money accessibility from the perspective of Indonesian court decisions. This study reveals that current implementations, policies, and court decisions regarding electronic money have mainly focused on effectiveness rather than inclusivity. Electronic money was created to help unbaked people access financial services. However, ensuring people have technological access to these services must include everyone. This study recommends that policymakers ensure that electronic money services are accessible to the unbanked and those with limited technology access when promoting their use. On top of that, the government must also reinforce that using rupiah, in any form, remains a legal means of payment and must be respected in all transactions.

As the result of technological advancements, online banking is becoming a major feature for banks because it helps customers to save time and benefits banks financially. Although Mauritius’s banking sector is well developed, its e-banking sector has lagged behind other countries. Hence, the purpose of this study is to identify the factors affecting the adoption of internet banking. From the findings of the study, it can be seen that many Mauritians nowadays use internet banking, but it is principally the new generation whereas the older banking customers prefer the traditional way as they do not trust the internet to manage their money. Also, though many use e-banking now they still think human contact is important for banking relation and continue to visit their banks, thus proving that even if online banking is in well integrated in Mauritius now, it still has a long way to go for Mauritians to integrate it into their everyday lives and use it to its full potential.

CBDC has gained popularity in many countries as a result of technological development. Central banks in a number of nations have been experimenting, piloting, launching, and promoting CBDC. Therefore, this study maps CBDC-related literature using a bibliometric approach and content analysis of the Scopus database. The Biblioshiny R Package was used in this study to analyse 190 documents with the keywords “central bank digital currency”. The analysis focuses on the main information about all documents, analysis of scientific production by areas (journals, authors, and countries), document and keyword analysis, and policy recommendations from the previous literature. The results show that CBDCs have had profound effects on monetary and payment systems, and their development could set the stage for a global central bank. The review also addresses the motivations and advantages of issuing a CBDC, including increasing financial inclusion, enhancing monetary policy, and

promoting efficient digital payments. The analysis also reveals that numerous central banks are investigating the possibility of issuing CBDCs due to the numerous advantages of this form of money. There is a lot of potential for theoretical expansion, contextual coverage, and methodological contributions. Furthermore, some policy recommendations from previous literature and directions for future studies are provided in this study.

This article illustrates how Basel III, a soft law legal framework guiding how regulators supervise financial institutions in order to prevent and mitigate systemic financial crises, especially the requirement regarding the governance of sovereign debt, is being implemented in Indonesia. The analysis was done by scrutinising the relevant authority’s responses and monetary policy during COVID-19. Also, it examines whether the applicable regulations and other related policies align with the grand objectives of the financial sector. This article provides several important takeaways. First, benefiting from the soft traits of Basel III, the oversight authorities (OJK and BI) have tried to enshrine the government’s resilient and prudent financial state through flexibility. Second, instead of taking expansionary legal measures to stimulate the state’s income and limit the state’s expenses, BI and the government have worked together to contain the damage of the pandemic through a quasi-fiscal program (burden-sharing program, BSP). Third, the legislation of Law No. 3/2023 did not make the BI’s objective less risky. It also suggests that more could have been done to prevent the fiscal deficit, especially by the government, through fiscal consolidation (limiting or decreasing the state’s expenses).

The Covid-19 pandemic has accelerated a shift towards digital payments and altered consumer behaviour when it comes to making payments. As a result, the use of state-issued money as legal tender continues to decline in most countries. In turn, the functions and existence of legal tender has decreased. Acknowledging such facts, the purpose of this research is to examine an ideal legal tender for the digital era that can restore the legal tender function while accommodating payment innovation. This research explores legal theories on money and legal tender, as well as the characteristics of various forms of money issued by the State and the private sector, i.e., fiat money, commercial bank money, cryptocurrency, and central bank digital currency. This research concludes that an ideal legal tender for the digital era should incorporate both cash and digital currency. Under this notion, central bank digital currency might serve as the ideal legal tender for the digital era. Nonetheless, there are certain prerequisites to the issuance of such legal tender. These include at least conducting thorough interdisciplinary research and pilot projects by the central bank, establishing an adequate regulatory framework, and ensuring public acceptance of such currency as a means of payment, as well as developing the necessary infrastructure

Climate change's impact on environmental quality has always been an interesting topic on the international platform, especially for developing countries. As a form of prevention and preparation, the World Bank green bonds by the World Bank have supported developing countries in participating in resilience to climate change. This article uses normative legal analysis with secondary data resources from books and other relevant scientific publications. The study result shows that the World Bank provided numerous recommendations and guidance for developing countries in implementing green bonds in their national regulations. Indonesia is one of the countries that applied green bonds through Bank Indonesia and Otoritas Jasa Keuangan (OJK). Bank Indonesia and OJK are now focusing on developing a Sustainable Finance Instrument (SFI) to stimulate the growth of a green and sustainable economy. A collaboration between the government and the authorities is essential to continuously build and preserve SFI in the market in the long term.

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

Innovations in digital payments have triggered many central banks to apprehend and consider central bank digital currency (CBDC). CBDC is believed to be the next milestone in the evolution of money because many studies have shown the significant advantages of using government-issued digital currency. However, to function as money, CBDC must fulfil the fundamental role of money, among others, contended by the state theory of money. This paper addresses the applicability of the state theory of money to CBDC as digital money, which is prefaced by the discussion on money as legal tender and the theory of sovereign power over money. After analysing these theories, this paper offers a preliminary legal analysis of CBDC, mainly from the perspective of Indonesian law. This paper concludes that the concept of CBDC as money and legal tender may fulfil the notion of money under the state theory of money and can serve as legal tender. Applying this theory to CBDC and assuming CBDC is used as legal tender, the State should create a legal framework to regulate CBDC as a valid medium of exchange and legal tender. However, it is also acknowledged that various designs of CBDC must be supported by different legal environments. Furthermore, this paper recommends the preparation of an Indonesian legal ecosystem for CBDC, consisting of a solid regulatory framework and clear legal relationships among relevant parties, that are needed to ensure the legality of the issuance, distribution and transference of CBDC once the design of CBDC is determined. Furthermore, to accommodate the use of CBDC, a thorough assessment of the relevant Indonesian laws should be undertaken relating, among other factors, to the central bank, money, currency, and technology.

Protection of consumers as weaker parties is an important goal in Indonesian society and in Indonesian law. The same applies to the EU Member States. When it comes to crossborder consumer contracts, special rules are needed to ensure this goal can still be achieved. In this regard the European Union developed rules on jurisdiction and applicable law which apply both to situations exclusively connected with EU Member States and to international situations connected with third countries. The Brussels I Regulation pursues an objective of legal certainty which consists in strengthening the legal protection of persons established in the European Union, by enabling the applicant to easily identify the court in which he may sue and the defendant reasonably to foresee before which court, he may be sued. The Rome I Regulation does the same for the law regulating the protection of the consumer. This way both the aims of protection of the weaker consumer and legal certainty on the side of the commercial party go hand in hand. Where legal certainty is an important precondition for international trade and thus for a nation’s economy, clear rules are needed. By presenting the EU rules in the dynamics of the caselaw of the European Court of Justice, this article aims to contribute to the discussion on how future cross-border consumer protecting regulations could be shaped in Indonesia and ASEAN.