Crypto Asset Committee Has Been Formed, Check Out Its Duties and Authorities

Liputan6.com, Jakarta – The Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Trade (Kemendag) continues to develop the national crypto asset industry. One way to do this is to form a Crypto Asset Committee through the Decree of the Head of CoFTRA Number 01/BAPPEBTI/KEP/01/2024 concerning the Crypto Asset Committee.

Plt. Head of CoFTRA, Kasan, explained that the role of the Crypto Asset Committee in encouraging the development of crypto asset trading in Indonesia is very large. This committee will be one of the driving forces that ensures the wheels of the crypto asset industry continue to turn and remain within the corridors of applicable laws and regulations.

“For this reason, optimizing the role of the Crypto Asset Committee must be one of the focuses in implementing the current crypto asset ecosystem,” said Kasan in a written statement, Saturday (4/5/2024).

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The Crypto Asset Committee consists of several elements, including Bappebti, related ministries and institutions, crypto asset exchanges and crypto asset clearing institutions. There are also associations in the field of crypto assets, academics, practitioners and related associations.

According to Kasan, CoFTRA needs to issue this decision because the presence of the Crypto Asset Committee is an implementation of Article 4 paragraph (1) of CoFTRA Regulation Number 8 of 2021 concerning Guidelines for Organizing Physical Market Trading for Crypto Assets (Crypto Assets) on the Futures Exchange.

“The duties and functions of the Crypto Asset Committee are to provide considerations or advice to CoFTRA regarding coaching and development activities for physical market trading in crypto assets,” said Kasan.