Crypto Exchange Works on 50% of IDR 55.2 Trillion Asset Trading Volume

Liputan6.com, Jakarta PT Bursa Komoditi Nusantara (CFX) as the manager of the regulated national crypto asset exchange continues to strengthen the domestic crypto asset ecosystem. Currently there are around 35 Prospective Crypto Asset Physical Traders (CPFAK) and one Non-CPFAK who have registered with the Commodity Futures Trading Supervisory Agency (Bappebti).

Based on applicable regulations, CPFAK and Non-CPFAK to be able to change their status to Physical Crypto Asset Traders (PFAK) must obtain an Exchange Member Approval Letter (SPAB) from CFX. To support the regulations issued by CoFTRA through CoFTRA Regulation Number 8 of 2021, as amended by Regulation Number 13 of 2022.

Currently there are four CPFAK, namely PT Aset Digital Berkat (Tokocrypto), PT Pintu Kemana Saja, PT Bumi Santosa Cemerlang (Pluang), PT Kripto Maksima Koin (Kripto Maksima-GOTO Group) which have received SPAB from CFX.

Based on CoFTRA data, CFX President Director Subani said that total crypto transactions from January to February 2024 reached IDR 55.26 trillion. An increase of 113.05 percent compared to the same period last year of IDR 25.94 trillion

“Four crypto traders who have received SPAB from CFX account for more than 50 percent of the total trading volume of crypto transactions in Indonesia,” said Subani, Tuesday (9/4/2024).

Subani added that his party encouraged other CPFAKs to speed up the registration process to become PFAK. According to him, registration as a PFAK shows the commitment of each CPFAK to provide services that not only meet high industry standards, but also comply with Indonesian government regulations.

“This is also part of CFX's ongoing efforts to support the growth of the crypto industry in Indonesia within a safe and orderly framework,” he stressed.

As regulated in Bappebti Regulation Number 8 of 2021 as amended by Regulation Number 13 of 2022, CPFAK is asked to immediately submit a letter requesting approval and completing the requirements as a PFAK to Bappebti.

According to the applicable regulations, crypto traders in Indonesia who have met the requirements and obtained SPAB from CFX, will then carry out a further process at Bappebti including carrying out a Fit and Proper Test after which the crypto trader status from CPFAK can change to PFAK.

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