UPH Academic Journals (Universitas Pelita Harapan)
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Implikasi Hukum Atas Peralihan Kewenangan Pengaturan dan Pengawasan Aset Kripto dari Badan Pengawas Perdagangan Berjangka Komoditi Kepada Otoritas Jasa Keuangan Pasca Undang-Undang Nomor 4 Tahun 2023
Full text linkThis research aims to analyze the dynamics of cryptocurrency regulation in Indonesia, particularly regarding the transfer of regulatory authority from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) following the enactment of Law Number 4 of 2023. The research methodology employed is the normative legal research method with legislative and conceptual approaches. The analysis is conducted through a review of Law Number 4 of 2023, relevant regulations, and management concepts related to cryptocurrency management, focusing on risk management principles and strategic policies. The results of this study indicate that the comparative analysis of regulations between Bappebti and OJK indicates significant differences in approach. Bappebti emphasizes technical and commercial aspects, while OJK tends to focus on legal and systemic aspects. The transfer of authority has the potential to impact consumer protection and market security. The regulatory flexibility and cross-sectoral coverage of OJK provide the potential for synergy and harmonization with Bappebti. Active collaboration between OJK, Bappebti, Bank Indonesia, PPATK, and relevant institutions is required to achieve clear regulations, optimal consumer protection, and sustainable development of the cryptocurrency industry.
Bahasa Indonesia Abstrak: Penelitian ini bertujuan untuk menganalisis dinamika regulasi aset kripto di Indonesia, khususnya terkait peralihan kewenangan pengaturan dari Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti) ke Otoritas Jasa Keuangan (OJK) setelah Undang-Undang Nomor 4 Tahun 2023. Metode penelitian yang digunakan adalah metode penelitian hukum normatif dengan pendekatan perundang-undangan dan pendekatan konseptual. Analisis dilakukan melalui tinjauan terhadap Undang-Undang Nomor 4 Tahun 2023, peraturan perundang-undangan terkait, dan konsep manajemen terkait pengelolaan aset kripto, dengan fokus pada prinsip-prinsip manajemen risiko dan kebijakan strategis. Hasil studi ini menunjukkan bahwa analisis perbandingan regulasi antara Bappebti dan OJK mengindikasikan perbedaan pendekatan yang signifikan. Bappebti lebih menekankan aspek teknis dan komersial, sedangkan OJK lebih cenderung pada aspek legal dan sistemik. Peralihan kewenangan tersebut berpotensi mempengaruhi perlindungan konsumen dan keamanan pasar. Fleksibilitas regulasi dan cakupan lintas sektor OJK memberikan potensi untuk sinergi dan harmonisasi dengan Bappebti. Diperlukan kerjasama aktif antara OJK, Bappebti, Bank Indonesia, PPATK, dan lembaga terkait untuk mencapai regulasi yang jelas, perlindungan konsumen optimal, dan pengembangan industri aset kripto yang berkelanjutan
Juridical Study of Trading Halt at IDX During Significant Decline of the Composite Stock Price Index (IHSG)
Full text linkThe Composite Stock Price Index (IHSG) declining sharply in early 2025 shows the importance of having a lower point in Indonesia’s capital market which affects a lot of factors including investors, issuers, regulators, and even the national economy. This journal has analyzed calamity for the capital market alongside the reason why the capital markets face a downturn. The capital markets which are under the jurisdiction of Law No.8/1995 and No.40/2007 are tasked with fostering deep financial intermediation for business and government activities, and public investment. The head of the OJK with the stock exchange industry setting the rules in the governance of IDX, places strong edges around, within, and in the capital market giving a protection to the investment climate. The safeguard guarantees that events in March and April 2025 show how far compliance with regulation goes but stretches beyond that to issues of market confidence and trust. Response from both the government and relevant authorities included extreme steps, such as instating trading suspensions, to stem panic selling and create some level of time out. These measures, while on some level unavoidable, highlighted the need for communication and harmonization among the regulators, market agents, and the public
Efektivitas UU Persaingan Usaha terhadap Pembatasan Dominasi di Era Digital
Full text linkAntitrust Law in Indonesia aims to create a fair market and prevent monopolistic practices that harm consumers and other business actors. However, with the development of technology and the dominance of digital-based multinational companies, antitrust law challenges are growing. In the digital era, companies such as Google and Amazon capitalize on the power of data and algorithms to dominate the market, often to the disadvantage of small and medium enterprises and creating unfairness in the market. Regulations such as Law No. 5/1999 that regulate the prohibition of monopolistic practices and unfair business competition, are not fully capable of addressing the dominance of global digital companies. Therefore, updates and adjustments to antitrust regulations are needed, in order to accommodate the development of the digital industry and protect local markets. Other countries, like the EU with the Digital Markets Act (DMA) and the US with the Sherman Act, have developed more relevant regulations, which can guide Indonesia in updating its Antitrust Law. The DMA regulation, for example, focuses on limiting monopolistic practices in the digital market and requires large companies to provide access to their business users' data. On the other hand, the Sherman Act, although older, remains relevant in the effort to create a healthy market. Therefore, there is a need to update Indonesia's Antitrust Law, along with enhancing the capacity of the Competition Supervisory Commission (KPPU) to address these challenges and create a more competitive and fair market environment in the digital era
2024 ELECTION LITERACY FOR BEGINNER VOTER IN AMURAN DISTRICT, SOUTH MINAHASA
Full text linkFreedom of expression and political participation are fundamental human rights, including the right to express political aspirations without intimidation. Ahead of the 2024 General Election, social media platforms such as TikTok, YouTube, and Instagram have become primary sources of political information for first-time voters. However, political content on these platforms is highly susceptible to hoaxes, disinformation, and hate speech. Misinformation or improper political statements can quickly go viral, potentially leading to legal consequences for the uploader. To mitigate these risks, first-time voters need political literacy to express their views ethically, accurately, and under the law. This study explores the need for political literacy among first-time voters, particularly in Amurang District, South Minahasa Regency. Using a quantitative research method, data collection was conducted through questionnaires, observations, and literature reviews. The findings of this study provide an analysis of political participation on social media and the electoral literacy needs of first-time voters
Association between Flat Foot Severity and Low Back Pain Recurrence among Pre-Clinical Medical Students: A Cross-Sectional Study
Full text linkBackground: Low back pain (LBP) affects over 619 million people globally and is highly prevalent among medical students. Flat foot (pes planus), a biomechanical alteration involving the collapse of the medial longitudinal arch, may contribute to spinal stress and LBP recurrence, yet remains underexplored in young adult populations.
Methods: This cross-sectional study involved 67 pre-clinical medical students aged 19–23 years with a history of recurrent LBP in the past year. LBP frequency was assessed using the Nordic Musculoskeletal Questionnaire and Numeric Rating Scale (NRS). Foot arch structure was evaluated via Clarke’s Angle, classifying flat foot severity into mild (35°–41°), moderate (30°– 34.9°), and severe (<30°). Data were analysed using Chi-square tests, with significance set at p < 0.05.
Results: LBP was reported by 80.6% of participants, with flat foot classified as mild in 43.3%, moderate in 37.3%, and severe in 19.4%. A significant association was found between flat foot severity and LBP recurrence (p < 0.001). Students with mild or moderate flat foot had a lower odd of experiencing moderate-frequency LBP compared to those with severe flat foot (OR = 0.152 95% CI: 0.048–0.483).
Discussion: These findings support the notion that structural abnormalities of the foot, particularly flat foot, may contribute to the recurrence and persistence of LBP by influencing spinal posture, altering mechanical load distribution, and affecting neuromuscular stability.
Conclusion: Flat foot severity is significantly associated with the recurrence of LBP in medical students. Early identification and foot posture assessment may help inform preventive and corrective interventions for recurrent LBP.
 
The Relationship Between Body Mass Index and The Degree of Dementia in Elderly Patients with Memory Impairment at Memory Clinic Siloam Hospitals Lippo Village
Full text linkIntroduction: Body mass index (BMI) can describe the level of nutrition and vitality of a person. Monitoring BMI values prevents elderlies from various risks of disease, one of which is dementia. The development of neuropathological lesions in the olfactory bulb has been proposed to cause symptoms which affect dementia patients’ appetite and thus resulting in weight loss.
Methods: A cross-sectional study was conducted among 55 memory impairment patients from ages ≥65 years at Siloam Hospitals Lippo Village Memory Clinic. Data was obtained using Montreal Cognitive Assessment – Indonesian Version (MoCA-INA) and Clinical Dementia Rating Scale (CDRS) and BMI was measured using Seca 703 instrument.
Results: A significant relationship was found between body mass index and the degree of dementia with a value of p = 0.046 for MoCA examination and p = 0.039 for CDRS examination. The results of the analysis shows that underweight-normal (BMI <23kg/m2) patients have 3.8 times (95% CI 1.2-12.5) and 4.6 times (95% CI 1.2-17.0) the risk of having a moderate-severe degree respectively compared to overweight-obese (BMI ≥23kg/m2) patients.
Conclusions: Lower late life BMI is related to higher degree of dementi
THE IMPACT OF LIQUIDITY ON FINANCIAL DISTRESS
Full text linkThis research conducted using 7 year-period data to examine the financial performance fluctuation before and after pandemic COVID-19. The purpose is to analyze the Impact of Liquidity towards Financial Distress with Firm Size as the Moderating Variable. The independent variable used in this research is Liquidity measured by Current Ratio. The dependent variable is Financial Distress which is measured by using Altman Z-Score formula. In addition, moderating variable Firm Size is measured by Ln multiply to Total Assets. By having the secondary data from infrastructure sector companies listed on the IDX in 2017-2023 and using purposive sampling method, 43 infrastructure companies are chosen as the samples from total of 65 companies. The data analysis in this research is using descriptive statistics, including minimum, maximum, mean and standard deviation. Then, multiple linear regression with classical assumption tests was used in this research. With that, data is processed through SPSS Statistics 25. The result of this study shows that Liquidity has significant impact towards Financial Distress. However, Firm Size is not able to moderate the relationship between Liquidity and Financial Distress since Liquidity has no significant impact towards Financial Distress through Firm Size as its moderating variable
BELANJA PEMERINTAH DAN PERANGKAP KEMISKINAN: ANALISIS WILAYAH TIMUR DAN BARAT INDONESIA
Full text linkKemiskinan telah menjadi masalah serius diseluruh negara dan merupakan fokus pencapaian tujuan pertama pembangunan berkelanjutan yang harus dicapai pada tahun 2030. Indonesia berambisi mancapai kemiskinan nol persen di 2045, dengan tantangan penurunan penduduk miskin yang relatif landai dan disparitas kemiskinan antarkawasan. Studi ini mencoba menguji pengaruh belanja pemerintah di bidang pelindungan sosial, pendidikan dan kesehatan, serta kebijakan dana desa terhadap kemiskinan antarkawasan di Indonesia menggunakan data realisasi belanja dan dana desa di seluruh kabupaten dan kota di Indonesia periode tahun 2016-2022 yang dianalisis dengan menggunakan metode data panel. Temuan menunjukan di KBI, dana desa konsisten mengurangi semua indikator kemiskinan (jumlah, kedalaman/P1, keparahan/P2), belanja kesehatan efektif mengurangi P1 dan P2, tetapi tidak jumlah kemiskinan, sementara itu belanja pendidikan dan perlindungan sosial justru memperburuk kemiskinan. Di KTI, belanja perlindungan sosial meningkatkan semua indikator kemiskinan, dana desa mengurangi jumlah kemiskinan, tetapi memperburuk P1 dan P2, sementara itu belanja pendidikan dan kesehatan, konsisten mengurangi semua dimensi kemiskinan. Temuan ini menunjukkan KBI lebih unggul dalam pemanfaatan dana desa, tetapi perlu reformasi belanja pendidikan dan perlindungan sosial. Sebaliknya KTI lebih baik dalam belanja pendidikan dan kesehatan, tetapi perlu evaluasi mendasar terhadap alokasi dana desa dan program perlindungan sosial
DARI INSTAGRAM KEMUDIAN MEMBAYAR LEBIH: PERAN SOCIAL MEDIA MARKETING DALAM MENINGKATKAN GREEN PERCEIVED QUALITY DAN WILLINGNESS TO PAY PREMIUM PRICE DALAM MEREK BERKELANJUTAN DI SURABAYA
Full text linkMedia sosial, di era ini, berfungsi sebagai alat pemasaran yang penting dalam membentuk persepsi konsumen tentang kualitas produk yang berkelanjutan. Penelitian ini bertujuan untuk menganalisis bagaimana faktor-faktor dalam pemasaran media sosial—yaitu entertainment, interaction, dan customization—mempengaruhi green perceived quality dan dampaknya terhadap willingness to pay price premium. Penelitian ini berfokus pada akun Instagram @thebodyshopindo, yang secara aktif dan transparan mengedukasi konsumen tentang keberlanjutan dan produk ramah lingkungan. Model penelitian ini mengembangkan empat hipotesis utama. H1, H2, dan H3 memeriksa pengaruh masing-masing variabel dari social media marketing —entertainment, interaction, dan customization —terhadap green perceived quality. Selanjutnya, H4 mengevaluasi apakah green perceived quality berpengaruh signifikan terhadap willingness to pay price premium. Metode penelitian menggunakan pendekatan kuantitatif dengan teknik survei yang menargetkan pelanggan produk Body Shop yang berdomisili di Surabaya dan pernah membeli produk melalui akun Instagram @thebodyshopindo. Data yang dikumpulkan dianalisis menggunakan SPSS 22 untuk menguji hubungan antar variabel. Temuan penelitian ini diharapkan dapat memberikan wawasan tentang efektivitas social media marketing, khususnya entertainment, interaction, dan customization dalam membentuk green perceived quality dan mendorong perilaku konsumsi berkelanjutan, seperti willingness to pay price premium
PERAN UMKM DALAM MENDORONG EKONOMI HIJAU DAN KEBERLANJUTAN DI KABUPATEN SERAM BAGIAN BARAT
Full text linkUsaha Mikro, Kecil, dan Menengah (UMKM) memiliki peran penting dalam pertumbuhan ekonomi lokal, terutama dalam mendorong ekonomi hijau dan keberlanjutan. Kontribusi UMKM di Kabupaten Seram Bagian Barat dalam mendukung ekonomi hijau melalui praktik bisnis berkelanjutan. Penelitian ini menggunakan metode kualitatif dengan pendekatan studi literatur dan wawancara terhadap pelaku UMKM di daerah tersebut. Hasil penelitian menunjukkan bahwa UMKM dapat berperan sebagai motor penggerak atau menjadi pilar utama dalam mewujudkan ekonomi hijau melalui inovasi produk ramah lingkungan, efisiensi sumber daya, dan praktik bisnis serta pemanfaatan bahan baku berkelanjutan dan pengolahan limbah yang efektif. Namun, tantangan seperti akses pembiayaan hijau dan edukasi masih menjadi hambatan utama dalam implementasi ekonomi hijau oleh UMKM di Kabupaten Seram Bagian Barat. Oleh karena itu, diperlukan dukungan dari pemerintah dan berbagai pemangku kepentingan untuk memperkuat peran UMKM dalam mendukung ekonomi hijau dan keberlanjutan di wilayah ini