Feasibility of Jurisprudential and Legal Aspects of Computer Data Transactions with a Focus on the Government's Legislative Policy

Abstract

Computer data and the emerging effects of the ever-evolving Internet have introduced a distinct economic system that has gained widespread global acceptance. Consequently, examining various transactions from a jurisprudential and legal perspective within the Islamic economic system is of significant importance, which this study addresses. Today, virtual assets, electronic wallets, digital signatures, electronic documents and contracts, and the rise of cryptocurrency-based and metaverse economies have expanded to such an extent that neglecting or unregulated acceptance of these phenomena may result in specific consequences for the Islamic economic system. Accordingly, considerations from Islamic economics and jurisprudence regarding the capacity for conducting computer data transactions play a crucial role in shaping this new type of economic system, particularly concerning the validity or invalidity of such transactions. The findings of this study indicate that adherence to the essential elements of a contract—namely, the specification of the subject matter, the legitimacy of the transaction, financial value, mutual consent of the parties, and the presence of utility and demand—serves as principles that facilitate the acceptance of these types of transactions within the jurisprudential and legal framework. To actualize such transactions and integrate them into the Islamic economic system, the acceptance of computer and Internet-based transactions as assets has been emphasized. Furthermore, with reference to the Electronic Commerce Act, the Islamic Penal Code, and the Law on Computer Crimes, necessary measures can be taken to provide legal support for these transactions.