Bappebti Inaugurates Indonesian Crypto Exchange
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25 July 2023 00:26 WIB
TEMPO.CO, Jakarta - The Futures and Commodity Trading Regulatory Agency (Bappebti) head Didid Noordiatmoko inaugurated the Indonesian crypto exchange through Decree No. 01/BAPPEBTI/SP-BBAK/07/2023 dated July 17, 2023, approving as PT Bursa Komoditi Nusantara as the operator of the crypto asset futures exchange.
Bappebti also issued Decree No. 01/BAPPEBTI/SP-LKBAK/07/2023 which approves PT Kliring Berjangka Indonesia to serve as a futures clearing house for the guarantee and settlement of trading in the market and Decree No. 01/BAPPEBTI/SP-PTPAK/07/2023 dated July 20 which approves PT Tennet Depository Indonesia as the manager of crypto asset storage.
Didid explained that the establishment of the exchange, the clearing house, and the depository for cryptocurrencies proved the government’s presence in creating a reasonable and equitable crypto asset trading ecosystem.
“To guarantee legal certainty and protection for the community as customers,” Didid said in a written statement quoted Monday, July 24, 2023.
According to him, the establishment was carried out during the transitional period of the Financial Sector Development and Strengthening Law (UU P2SK) so that the Indonesian crypto industry would proceed, be well maintained, and contribute to the economy through state revenues.
Bappebti would collaborate with ministries/institutions, especially the Financial Services Authority (OJK), Bank Indonesia (BI), and the Finance Ministry, as well as the community to develop and strengthen the crypto exchange, clearing house, and depository.
“In the future, the crypto industry and trading can continue to be developed and adapted to the needs of society and industry,” Didid said.
Physical trading of crypto assets, he went on, carries a fairly high degree of risk. By their nature, the value of crypto assets can experience a drastic increase or decrease in a short time.
“For this reason, the community must have a good understanding of the benefits, potential, and risks of trading crypto assets,” Didit concluded.
MOH. KHORY ALFARIZI
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