Investors Soar, Crypto Companies Must Innovate

Previously, PT Pintu Kemana Saja officially became the first crypto company in Indonesia to receive a letter of approval as a Physical Crypto Asset Trader (PFAK). This decision was stated in the letter of the Head of the Commodity Futures Trading Supervisory Agency (BAPPEBTI) Number 01/BAPPEBTI/PFAK/08/2024.

Pintu General Counsel, Malikulkusno Utomo, appreciated all parties for the official ratification of Pintu from a Prospective Crypto Asset Trader (CPFAK) to a PFAK.

“Our highest gratitude and appreciation to BAPPEBTI, Self-Regulatory Organizations (SRO); CFX crypto exchange, Indonesian Commodity Clearing (KKI), and Indonesia Coin Custodian (ICC), who have fully supported and collaborated with us so that Pintu’s journey is more complete after receiving a license as a PFAK,” he said.

“This new predicate confirms that Pintu can carry out operations fully in accordance with the provisions that apply legally in Indonesia,” said the man who is familiarly called Dimas.

Dimas explained that the process of changing status from CPFAK to PFAK requires effort and compliance with strict standards.

“We believe that meeting these requirements is not only important for crypto companies to comply with applicable laws in Indonesia, but also to ensure that traders can maintain credibility and continue to provide the best service to domestic crypto investors,” he said.

In accordance with BAPPEBTI Regulation Number 8 of 2021, as amended by BAPPEBTI Regulation Number 13 of 2022 through Article 14, CPFAKs who wish to apply for a permit to become PFAKs must meet a number of requirements and criteria.