Ahead of Transition to OJK, CoFTRA Monitors Surge in Crypto Investors

Liputan6.com, Jakarta The Commodity Futures Trading Supervisory Agency (Bappebti) highlighted the number of Crypto investors which will continue to skyrocket in the first quarter of 2024. In the midst of increasing enthusiasm among domestic crypto investors, business actors are being urged to educate the public regarding the applicable regulations.

Based on CoFTRA data, the number of domestic crypto investors in January 2024 has reached 18.83 million. It will continue to increase as of February 2024 to 19 million investors.

Bappebti Secretary Olvy Andrianita stated that 2024 is a crucial year for the crypto industry because in 2025 there will be a transfer from Bappebti to the Financial Services Authority (OJK).

“For this reason, CoFTRA urges that the current ecosystem in the industry can collaborate well and be integrated with each other. So it is hoped that the transition to OJK can run well and encourage comprehensive protection for crypto investors and the investment climate will get better,” he said in a written message. , written Monday (25/3/2024).

Olvy revealed that the crypto industry when it entered Indonesia did not yet have clear regulations, while the supply and response to crypto assets continued to increase. Based on this, the government, led by the Coordinating Ministry for Economic Affairs, carried out coordination.

“One of the results decided that crypto asset trading is regulated through a Minister of Trade Regulation, and categorized them into commodities traded on the Futures Exchange. So the overarching Law (UU) is Law Number 10/2011 concerning Commodity Futures Trading (PBK),” he explained.

Crypto Asset Rules

He added that crypto asset regulations were then outlined in Minister of Trade Regulation Number 99/2018 concerning General Policy for Organizing Crypto Asset Trading.

“Furthermore, it is more technically regulated through Bappebti Regulations (Perba) which include trading conditions, conditions for becoming a trader, product coverage, to the ecosystem scope consisting of Crypto Asset Exchanges, Clearing Houses and Depositories. All these rules were created to regulate asset trading governance better crypto,” he explained.