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The money market plays a vital role in the global financial architecture as a provider of short-term liquidity and a primary channel for monetary policy transmission. This research is motivated by the rapid transformation of financial instruments, which now encompass conventional and Sharia-compliant sectors, as well as digital innovations such as e-money and stablecoins. The purpose of this study is to examine the concept of the money market, identify the diversity of modern instruments, and analyze their strategic role in economic stability through a qualitative literature review approach. The analysis shows that the money market is highly effective in managing bank cash reserves and controlling inflation by regulating the money supply. The presence of digital instruments has been proven to accelerate liquidity flows, while Sharia schemes provide transparent and equitable investment alternatives. However, the emergence of digital assets also brings challenges of volatility that require adaptive regulation and professional skepticism from market participants. The implications of this research emphasize the importance of synergy between monetary authorities and financial technology to address global disruption. Strengthening regulations on future instruments is expected to create a more inclusive and stable financial system that can respond precisely to economic shocks.

Pesatnya perkembangan teknologi blockchain dan arus globalisasi telah mendorong penggunaan Bitcoin di Indonesia, yang kini diakui sebagai komoditas dalam perdagangan berjangka. Namun, karakteristik anonimitas dan desentralisasi mata uang digital ini membuka celah signifikan bagi kemunculan cybercrime, seperti pencucian uang dan peretasan, yang menuntut perhatian yuridis serius. Penelitian ini bertujuan menganalisis dampak teknologi tersebut terhadap risiko kejahatan siber serta efektivitas regulasi yang berlaku. Metode yang digunakan adalah yuridis normatif dengan pendekatan perundang-undangan untuk menelaah kerangka hukum terkait. Hasil penelitian menunjukkan adanya dualisme regulasi di Indonesia, di mana Bappebti melegalkan Bitcoin sebagai aset investasi, sementara Bank Indonesia melarangnya sebagai alat pembayaran. Ketidaksinkronan ini, diperparah dengan sifat lintas batas blockchain, menciptakan tantangan dalam penegakan hukum terhadap kejahatan siber. Disimpulkan bahwa harmonisasi regulasi antara otoritas keuangan dan penguatan aturan keamanan siber sangat mendesak dilakukan guna memitigasi risiko kejahatan tanpa menghambat inovasi ekonomi digital.