The Indonesian Crypto Exchange Becomes The First In The World? Here's The Answer

Head of CoFTRA, Didid Noordiatmoko (photo: dock. ANTARA)

JAKARTA - The Commodity Futures Trading Supervisory Agency (CoFTRA) has finally officially established a crypto exchange for PT. The Nusantara Commodity Exchange. This decision is good news, because the presence of this crypto exchange has been delayed for quite a long time since 2021.

In developing and strengthening the Indonesian crypto exchange, clearing, and managing crypto asset storage, CoFTRA does not work alone. CoFTRA requires collaboration from related ministries/agencies, especially the Financial Services Authority (OJK), Bank Indonesia (BI) and the Ministry of Finance as well as the wider community.

Deputy Minister of Trade Jerry Sambuaga also briefly said at the Block Community Conference 2022 event that the crypto exchange that is present in Indonesia will also be the first in the world.

"Several countries are also interested in forming the same exchanges as South Korea because they also see potential, opportunities and opportunities that can be done with the existence of the exchange," Jerry said at the event.

Based on the CoFTRA Regulation Number 8 of 2021 to obtain approval as the organizer of the Futures Exchange, PT Bursa Komoditi Nusantara must meet the requirements, one of which has a paid-up capital of at least Rp500 billion.

Then, within three months of approval, the company must have a paid-up capital of at least IDR 1 trillion, or at least 2 percent of the facilitated or reported transaction value.

The task of the Futures Exchange itself is to be responsible for supervising the implementation of physical Crypto Asset Market transactions so that they run in an orderly, orderly and transparent manner.

The Futures Exchange, which has received approval to organize Crypto Asset Trading, also cannot hold transactions for other commodities.