Inaugurating the Crypto Exchange, Minister of Trade Zulhas: We Provide a Sense of Security for Investing

Inauguration of the Crypto Exchange (Photo: Mery Handayani/VOI)

JAKARTA - The Ministry of Trade and the Commodity Futures Trading Supervisory Agency (Bappebti) inaugurated PT Bursa Komoditi Nusantara or the Commodity Future Exchange (CFX) as the Indonesian crypto asset exchange.

The inauguration of the crypto asset exchange was carried out by the Minister of Trade Zulkifli Hasan, together with the Head of CoFTRA at the Four Seasons Hotel, Jakarta, Friday, July 28.

"Today, PT Bursa Komoditi Nusantara, I inaugurated as an Indonesian crypto asset futures exchange," said the Minister of Trade, at the inauguration of the crypto exchange, in Jakarta, Friday, July 28.

Zulhas, Zulkifli Hasan's nickname, said that with a complete ecosystem in the crypto industry, people will get security and comfort in investing in crypto assets.

“In order for the public to obtain the correct understanding of information about legal investments. If this industry is not regulated properly, it will have an impact on illegal business behavior that is detrimental to society. The bottom line is we are protecting the community," he said.

Moreover, continued Zulhas, this crypto investment is quite risky because of its high-risk high return nature. Therefore, it is necessary to collaborate with various parties to provide a sense of security to the community.

This crypto investment is high risk, but also high return. For this reason, I hope that crypto exchanges can work together or collaborate with various parties to maximize public protection," he said.

For your information, through a long process and in accordance with applicable regulations the Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Trade established a crypto exchange through the Decree of the Head of CoFTRA Number 01/BAPPEBTI/SP-BBAK/07/2023 dated 17 July 2023 concerning Approval as a Futures Exchange Crypto Assets.

In addition, CoFTRA also issued the Decree of the Head of CoFTRA No. 01/BAPPEBTI/SP-LKBAK/07/2023 dated 17 July 2023 concerning Approval as a Futures Clearing House for Guarantee and Completion of Trading in the Physical Crypto Asset Market to PT Kliring Berjangka Indonesia.

Another matter that is also regulated by CoFTRA is the Manager of the Crypto Asset Storage through the Decree of the Head of CoFTRA Number 01/BAPPEBTI/SP-PTPAK/07/2023 dated 20 July 2023 concerning Approval as the Manager of the Crypto Asset Storage to PT Tennet Depository Indonesia.