Cryptocurrency Transactions Subjected to Govt Audit, PPATK Says

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Markus Wisnu Murti

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  • Illustration of Cryptocurrency / Crypto Exchange. Image: Shutterstock

    Illustration of Cryptocurrency / Crypto Exchange. Image: Shutterstock

    TEMPO.CO, Jakarta - Following the rising number of transactions which utilize cryptocurrency, PPATK or the Financial Transaction Reports and Analysis Center together with the Trade Ministry's Futures Exchange Supervisory Board (Bappebti) are set to conduct a joint audit to prevent possible money laundering. 

    PPATK Chief Ivan Yustiavandana in a meeting with members of the House's Commission III said the recent popularity of non-fungible tokens (NFT) had intensified the challenges for financial intelligence agencies. 

    “The joint audit is to ensure each virtual currency exchanger has implemented the five pillars of the Bappebti,” Ivan said to House lawmakers on January 31, Bisnis.com reported. 

    Reported earlier, Corruption Eradication Commission (KPK) deputy Lili Pintauli Siregar on January 26 voiced a similar concern regarding NFT and cryptocurrency transactions, which can potentially be used by criminals to launder money using the blockchain. 

    “Surely, KPK can investigate it in the future using blockchain as well,” he added.

    Read: Bank Indonesia Prohibits Cryptocurrency as Payment Tool

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