eprintid: 76478
rev_number: 10
eprint_status: archive
userid: 12460
dir: disk0/00/07/64/78
datestamp: 2026-05-19 03:59:28
lastmod: 2026-05-19 03:59:28
status_changed: 2026-05-19 03:59:28
type: thesis
metadata_visibility: show
contact_email: muh.khabib@uin-suka.ac.id
creators_name: Imam Muttaqin Amin, NIM.: 22103080110
title: TRANSAKSI FINANCIAL MARKET DIGITAL DI INDONESIA PERSPEKTIF FIQIH MUAMALAH DAN HUKUM POSITIF STUDI PADA BITCOIN DAN GOLD SEBAGAI REPRESENTASI PASAR CRYPTO DAN FOREX
ispublished: pub
subjects: 297.273
divisions: ek_syariah
full_text_status: restricted
keywords: Financial Market, Bitcoin, Gold XAU/USD, Fiqh Muamalah,
Kepastian Hukum
note: Annisa Dian Arini, S.H., M.H.
abstract: The disruption of financial technology has given rise to new digital investment
instruments, such as Crypto Assets (Bitcoin) and derivative gold Futures Trading
(XAU/USD), which have raised quite complex legal issues within society. Therefore,
this research addresses three main issues: first, how fiqh muamalah views digital
financial market transactions, specifically Bitcoin and Gold (XAU/USD); second,
how Indonesian positive law views these transactions; and third, the compatibility
between fiqh muamalah and Indonesian positive law regarding their transaction
practices. This study aims to deeply analyze these perspectives concerning the
transaction mechanisms, asset legality, and the protection of market participants in
both instruments.
This type of research is normative juridical research combined with
empirical elements. The approaches used to examine this issue include a statute
approach and a conceptual approach. The main data sources focus on literature
studies of state regulations, such as Laws and Bappebti Regulations, as well as fiqh
muamalah literature. In addition, this research is also supported by primary
empirical data obtained through direct interviews with trading practitioners. All
collected data are then analyzed using a qualitative comparative method to
formulate comprehensive conclusions.
The research findings show that: First, from the perspective of Positive Law,
Bitcoin and Gold Futures (XAU/USD) transactions are valid and legal. The state
recognizes Bitcoin as a futures commodity under the supervision of Bappebti and
OJK, and acknowledges its economic value through the imposition of taxes
regulated in the Minister of Finance Regulation (PMK) No. 68/PMK.03/2022. The
security of investors' funds is guaranteed through a Segregated Account
mechanism. Second, from the perspective of Fiqh Muamalah, there is a difference
in legal status. Bitcoin transactions in the physical market (Spot Market) are
deemed permissible (mubah) because they meet the criteria of property (mal
mutaqawwam) and the validity of electronic handover (qabdh). Conversely, Gold
transactions (XAU/USD) with a Leverage Trading scheme are unlawful
(haram/fasid) because they fail to meet the cash requirement (yadan bi yadin) due
to the absence of physical delivery (non-delivery), the combination of debt and sale
contracts (bai' wa salaf) in the leverage feature which triggers Riba Qardh, and the
dominance of speculation (Maysir).
date: 2026-04-07
date_type: published
pages: 137
institution: UIN SUNAN KALIJAGA YOGYAKARTA
department: FAKULTAS SYARI’AH DAN HUKUM
thesis_type: skripsi
thesis_name: other
citation:   Imam Muttaqin Amin, NIM.: 22103080110  (2026) TRANSAKSI FINANCIAL MARKET DIGITAL DI INDONESIA PERSPEKTIF FIQIH MUAMALAH DAN HUKUM POSITIF STUDI PADA BITCOIN DAN GOLD SEBAGAI REPRESENTASI PASAR CRYPTO DAN FOREX.  Skripsi thesis, UIN SUNAN KALIJAGA YOGYAKARTA.   
document_url: https://digilib.uin-suka.ac.id/id/eprint/76478/1/22103080110_BAB-I_IV-atau-V_DAFTAR-PUSTAKA.pdf
document_url: https://digilib.uin-suka.ac.id/id/eprint/76478/2/22103080110_BAB-II_sampai_SEBELUM-BAB-TERAKHIR.pdf