Tokocrypto CEO Explains The Profits Of Supervision Of Crypto Assets From CoFTRA To OJK

Tokocrypto CEO Yudhono Rawis (photo: Doc. VOI)

JAKARTA - The transition from crypto asset trading supervision from the Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade (Kemendag) to the Financial Services Authority (OJK) is still in progress.

In accordance with the mandate of Law (UU) Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK), this transition process will be carried out within a maximum of 24 months, since the issuance of the Law.

Currently, OJK is drafting a Government Regulation (RPP) covering several regulations, as well as actively coordinating with industry players and other stakeholders, including the Indonesian Crypto Asset Traders Association (ASPAKRINDO).

According to Tokocrypto CEO Yudhono Rawis, this transitional initiative from the government shows his commitment to maintaining the development of the crypto industry in the country.

"With the transfer to the OJK, it is hoped that the harmonization of regulations between crypto assets and other financial instruments will be created. This is essential to create a conducive investment climate and reduce risks due to legal uncertainty," Yudho said in a statement received.

Because according to him, OJK has greater potential in integrating crypto assets into traditional financial sectors, such as banking, so as to facilitate collaboration between industry players and conventional financial institutions, and create wider service opportunities for consumers.

In addition, Yudho also stated that the OJK also has the potential to integrate education about crypto in their programs, providing a more in-depth understanding to the public about the risks and opportunities that exist in the crypto market.