Booming, OJK Asks The Public To Avoid Crypto Assets That Are Not Registered With CoFTRA

JAKARTA - The Financial Services Authority (OJK) has asked the public to be aware of crypto asset investment offers that are currently booming so as not to become victims of offerings by crypto asset traders who are not registered with the Commodity Futures Trading Supervisory Agency (CoFTRA), Ministry of Trade.

Tongam L. Tobing, chairman of the OJK Investment Alert Task Force, said that this appeal is expected to prevent the public from potential losses.

According to Tongam, the public should look at the list of crypto traders and the list of their crypto assets at CoFTRA as the authority that has the authority to regulate and supervise these cryptocurrencies.

"This is in accordance with CoFTRA Regulation Number 7 of 2020 concerning the Establishment of a List of Crypto Assets that can be Traded in the Physical Crypto Asset Market," he said in a press statement, Friday, December 3.

Tongam added that the Task Force had also stopped five business activities suspected of being money games and three business activities of trading robots without a permit.

"Be careful with offering crypto asset investments with fixed profits because they are ridden by irresponsible parties," he said.

Furthermore, he revealed that recently there are also many application-based investment offers that must be watched out for because the perpetrators take advantage of public ignorance to cheat by way of the lure of giving very high returns.

"Especially if people are asked to place or deposit their funds first, this is clearly very detrimental," he added.

For this reason, Tongam hopes that the community can be wiser in managing their financial plans so that losses do not occur in the future. For that, he asked to understand the following points before starting to invest.

1. Ensure that the party offering the investment has a permit from the competent authority in accordance with the business activities being carried out.

2. Ensure that the party offering investment products has a license to offer investment products or is registered as a marketing partner.

3. Ensure that if there is an inclusion of the logo of a government agency or institution in the media, the offer has been carried out in accordance with the provisions of the legislation.

"For information on crypto assets, you can see the website www.bappebti.go.id," Tongam concluded.