Industry Players' Response Regarding the Negative Stigma Attached to Crypto

Liputan6.com, Jakarta – In this digital era, the term crypto is increasingly popular. The underlying blockchain technology is predicted to revolutionize various sectors, from finance to logistics.

However, there are still many ordinary people who are hesitant and reluctant to dive into the world of crypto because it is labeled as an unsafe industry and full of fraud.

This negative stigma is not without reason. Several cases of fraud and hacking on crypto platforms have occurred. This is normal considering that this industry is still relatively new and still in the development stage. However, the notion that the entire crypto industry is unsafe is wrong.

In Indonesia the crypto industry has developed rapidly and is equipped with an increasingly mature ecosystem. There are regulated crypto exchanges, clearing institutions and custodians to maintain asset security, as well as crypto asset committees that have been formed to protect consumers. Various regulations are starting to emerge to provide legal certainty for investors.

Tokocrypto CEO, Yudhono Rawis, has raised his voice to straighten out the negative stigma towards crypto. He emphasized that the crypto industry is not just about speculation and profit. The blockchain technology behind cryptocurrencies has tremendous potential to increase efficiency, transparency and financial inclusion.

“The crypto industry is not just trading or looking for profit. Behind it, there is blockchain technology which is extraordinary and can be applied in various sectors. Blockchain can increase efficiency, transparency and financial inclusion,” said Yudho in a press release, Thursday (9/5 /2024).

He also invited people not to be afraid and hesitate to learn more about crypto. With adequate education and understanding, people can utilize crypto technology wisely and responsibly.

Regulatory Assurance

Yudhono added, in Indonesia regulations regarding crypto have been issued by the Commodity Futures Trading Supervisory Agency (Bappebti) and later in early 2024 they will be regulated and supervised by the Financial Services Authority (OJK).

“This provides legal guarantees and certainty for the crypto industry to continue to develop in Indonesia. These efforts have borne fruit,” he said.