Vidy Foundation Sends Letter To OJK So That VIDY And VIDYX Crypto Assets Can Be Traded Again Because They Are Legally Registered With BAPPEBTI

Foto: Dok. Vidy Foundation

JAKARTA - Vidy Foundation Ltd's legal team sent an official letter to the Financial Services Authority (OJK) after the Investment Alert Task Force's decision to include VIDY and VIDYX crypto assets in the list of bogus (illegal) investments.

This was done because it resulted in Indodax delisting the two crypto assets belonging to Vidy Foundation Ltd. In its letter, the Legal Team asked OJK to postpone the process of listing its client products in accordance with applicable legal provisions.

"We ask OJK to please provide information and clarification regarding the issuance of letter Number: S-546/SWI/2021 dated November 23, 2021, addressed to the Directors of PT Indodax Nasional Indonesia," said Ardy Susanto of Solusi Law Office during a press conference at Maximo Coffee. Central Jakarta Lounge, last Thursday 2 December.

Previously, the Head of the OJK Investment Alert Task Force sent a letter Number: S-546/SWI/2021 dated November 23, 2021. This OJK letter was addressed to the Directors of PT Indodax Nasional Indonesia regarding the termination of the offer or sale of Vidy Coin and Vidyx products.

However, said Ardy, the letter from the OJK Investment Alert Task Force was misdirected. The reason is, the client's Crypto asset product is a legal product that has been registered with the Commodity Futures Trading Regulatory Agency (BAPPEBTI).

This is based on BAPPEBTI Regulation Number 7 of 2020 concerning the Establishment of a List of Crypto Assets that can be traded in the Crypto Asset Physical Market.

"So, my client's crypto assets are legal products. And our clients have never been informed or asked for information regarding the steps taken by OJK," he said.

Regarding the information regarding the sale of his client's crypto asset products carried out in multi-level marketing (MLM), Ardy emphasized that the information was not correct. According to him, his client's crypto asset products are traded through PT Indodax Nasional Indonesia.

Indodax is a marketplace that is officially registered in accordance with the provisions of the legislation in force in Indonesia. Even the client's crypto assets are also traded through 9 other exchanges, both domestically and abroad.

Furthermore, Ardy also denied the relationship between his client company and PT Rechain Digital Indonesia in trading his client's crypto asset products.

"I emphasize, our client does not have a legal relationship with PT Rechain Digital Indonesia, so regarding this incident we will also communicate and ask for clarification with them," he explained.

Therefore, Ardy asked OJK to cancel the delisting process for his client's crypto asset products. The reason is that the delisting of the client's crypto asset products has a very large loss impact for investors.

"Especially for investors who have purchased crypto asset products belonging to our clients on Indonesian marketplace platforms such as Indodax and other exchanges abroad," concluded Ardy.