Crypto Asset Control Transition Switches To OJK, This Is A Challenge That Must Be Faced!

JAKARTA - The transfer of supervision of digital financial assets including crypto assets from the Commodity Futures Trading Supervisory Agency (CoFTRA) to the Financial Services Authority (OJK) will be implemented.

Although the players in this industry fully support the government's efforts to regulate crypto asset trading in Indonesia, CMO Tokocrypto Wan Iqbal noted several challenges that might be faced.

"This transition certainly takes time, especially in terms of technical and operational adjustments," Iqbal said in a written statement received on Thursday, January 9.

However, Iqbal said that Tokocrypto believed that through support from regulators and collaboration between stakeholders, these challenges could be overcome.

Meanwhile, in terms of opportunities, Iqbal believes that the transfer of supervision to OJK will open the door for more traditional financial institutions to recognize and understand the crypto sector.

"With tighter and more transparent supervision, institutional trust in this sector will increase, thereby expanding the adoption of digital assets," he said.

As one of Indonesia's leading crypto asset trading platforms, Tokocrypto stated its commitment to continue to support regulatory efforts in building healthy industries.

"We believe that good regulations are the foundation for sustainable growth. Tokocrypto will continue to innovate and contribute in building a safe, transparent, and inclusive crypto ecosystem," concluded Iqbal.