Tokocrypto Supports the PASTI Task Force to Stop KOLs Promoting Illegal PAKD

JAKARTA - Tokocrypto supports the steps of the Illegal Financial Activities Eradication Task Force (Satgas PASTI) which stopped the activities of a number of Key Opinion Leaders (KOL) in Indonesia related to the illegal offering of Digital Financial Asset Traders (PAKD).

This step was taken after the PASTI Task Force summoned a number of KOLs to ask for explanations and clarifications regarding the alleged involvement in the promotion of unlicensed PAKD.

As a follow-up, several KOLs have carried out the deletion or takedown and adjustment of content containing illegal digital financial asset platform offerings.

Tokocrypto CEO, Calvin Kizana, assessed that the PASTI Task Force's move is an important effort in strengthening the governance of the national crypto asset industry.

According to him, the use of licensed PAKD is the main foundation to ensure consumer protection, service transparency, and compliance with regulations.

"We support the decisive steps of the PASTI and OJK Task Force. The existence of licensed PAKD is very important to increase consumer protection, because the public has access to platforms that are supervised by regulators, have compliance standards, and carry out more transparent and responsible business practices," said Calvin.

Calvin added that transacting through licensed crypto platforms can also help keep digital economic activities within the national ecosystem. This is important to prevent potential capital flows to foreign platforms or unlicensed entities that are not under the supervision of Indonesian regulators.

"When people use licensed PAKD in the country, transaction activities can be recorded, monitored, and contribute to the growth of the national industry. This can help prevent the flow of funds to illegal or unlicensed platforms, while encouraging the increase in transactions of crypto assets in Indonesia," he continued.

The PASTI Task Force also appeals to KOLs to conduct adequate analysis and research before providing information related to financial products or services.

KOLs are required to ensure the legality of the parties, platforms, and products they promote, including ensuring that PAKD is licensed and that the products are permitted to be traded in Indonesia.

In addition, KOLs are expected to convey information clearly, correctly, and not misleading, including providing balanced explanations about potential benefits and risks.

The PASTI Task Force also reminded KOLs not to use misleading claims, such as promises of high profits, risk-free, or fictitious testimonials.