Offering Unregistered Crypto Assets Is Increasing, SWI Asks People To Be Alert

Chairman of the Investment Vigilance Task Force, Tongam L Tobing

JAKARTA - The Investment Alert Task Force (SWI) asks the public to be aware of crypto-asset investment offers that are currently booming so as not to become victims of offers by crypto asset traders who are not registered with the Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade, thereby potentially harming the public.

The chairman of the Investment Alert Task Force, Tongam L Tobing, said that his party had stopped one entity, namely PT Rechain Digital Indonesia, from trading crypto-assets Vidy Coin and Vidyx without a permit. In addition, SWI also stopped five business activities that were suspected of being money games and three business activities of trading robots without a permit.

"Be careful with crypto-asset investment offerings with fixed profits because they are ridden by irresponsible parties. Before investing in crypto, the public must first look at the list of crypto traders and secondly the list of crypto assets at CoFTRA as the authority authorized to regulate and supervise This cryptocurrency 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 Crypto Asset Physical Market," Tongam said as quoted by ANTARA, Saturday, December 4.

According to Tongam, lately there is also application-based investment offers that must be watched out for because the perpetrators take advantage of the public's lack of understanding to cheat by way of the lure of giving very high and unreasonable returns, but first, the public is asked to place or deposit their funds.

SWI asks the public to understand a number of things before making an investment, one of which is to ensure that the party offering the investment has a permit from the competent authority in accordance with the business activities being carried out.

In addition, ensuring that the party offering investment products, has a license to offer investment products or is registered as a marketer partner and ensures that the inclusion of the logo of a government agency or institution in the media offers has been carried out in accordance with the provisions of the legislation.