Want to Invest in Crypto Made in RI, this is a special message for CoFTRA
The Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Commerce has tightened its supervision of cryptocurrency trading.
Acting Head of CoFTRA, Indrasari Wisnu Wardhana, stated that every crypto asset product must be registered with CoFTRA.
Any type of crypto asset that does not comply with Bappebti regulations cannot be traded in Indonesia.
"New Crypto Assets that will be traded must first be registered with CoFTRA through the registered Crypto Asset Physical Trader Candidate for evaluation based on established regulations," said Indrasari, quoted in a press release, Monday (14/2/2022).
The determination of cryptocurrency assets is done through the Analytical Hierarchy Process (AHP) assessment method which has several assessment criteria.
CoFTRA itself has issued CoFTRA Regulation Number 8 of 2021. The regulation states the requirements for Crypto Assets that can be traded on the Crypto Asset Physical Market.
Crypto assets that can be traded domestically refer to CoFTRA Regulation Number 7 of 2020 concerning the Establishment of a List of Crypto Assets that can be Traded in the Physical Crypto Asset Market.
Currently, CoFTRA has defined 229 types of crypto assets that can be traded on the physical crypto asset market.
Thus, Crypto Asset traders can only trade Crypto Asset Types that have been determined by the Head of CoFTRA. For this reason, crypto assets that have not been registered with CoFTRA, cannot be traded in Indonesia.
"It is hoped that the public can invest in coins or other types of Crypto Assets that have been stipulated in the CoFTRA Regulations," he said.
It also urges the public to first understand the mechanisms and risks before deciding to invest in crypto assets.
"The public must also ensure the types of crypto assets that have been legally determined by CoFTRA and are ensured to be traded with prospective physical crypto asset traders who already have a registration certificate from CoFTRA," he concluded.
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