OJK Responds, Vidy Foundation Hopes Crypto Assets Can Be Re-traded

Vidy Foundation's legal team. (Photo: Doc. Vidy Foundation)

JAKARTA - Vidy Foundation Ltd's legal team appreciates the response of the Financial Services Authority (OJK) regarding the letter sent in mid-December 2021. The letter containing the request and clarification addressed to the superbody in the financial sector has been very well received.

"We are grateful for OJK's full attention in responding to our letters. And we are optimistic that communication will go well and smoothly", said Vidy Foundation Ltd's attorney, Ardy Susanto from Solusi Law Office in Jakarta, Saturday, January 29.

Ardy explained that in mid-December 2021, Solusi Law Office as the Legal Counsel for Vidy Foundation Ltd again sent a reply letter to the response from OJK. OJK's response to Vidy Foundation Ltd's letter in Indonesia is considered very positive.

“This means that the efforts of the legal counsel are starting to find a bright spot. Hopefully, this will be a bright spot for the legal rights and interests of our clients and of course for the public and investors", he hoped.

Previously, the Legal Counsel for Vidy Foundation Ltd had sent a letter to OJK with number 108/Dir-SoLO/XII/2021 dated December 15, 2021.

The letter contains a request for clarification and postponement of delisting addressed to the Board of Directors of PT Indodax Nasional Indonesia. This letter has been responded to by the Head of the Financial Services Sector Investigation Department of the Financial Services Authority (OJK) as well as the Chair of the Investment Alert Task Force, Tongam Lumban Tobing.

In his reply, Tongam Lumban Tobing is ready to discuss the matter with Vidy Foundation Ltd. In his letter No. S-578/SWI/2021 regarding the Response to the Request for Clarification and Postponement of the Delisting of Crypto Assets, the Head of the Investment Task Force requested that the legal counsel of Vidy Foundation Ltd in Indonesia send a letter directly to the Investment Alert Task Force and not to the OJK.

Representatives of Vidy Foundation Ltd through their attorneys have sent a direct letter to the Chairman of the Investment Alert Task Force.

"We as attorneys express our gratitude for the response from OJK as a form of support and protection and interests for the community and investors", said Ardy.

In addition, Ardy continued, this OJK support is a form of positive contribution to the economy and the digital investment sector.

"In essence, we will continue to ask for investment protection from the government. So that there is a guarantee of investment certainty so that investors and the public are also safe", he explained.

Some time ago, continued Ardy, SWI OJK included crypto assets from the Vidy Foundation Ltd company, namely VIDYX, as illegal investments.

This resulted in the delisting of VIDY and VIDYX from the Indonesian crypto commodity market. This problem arose after the emergence of information linking Vidy Foundation Ltd with third parties selling VIDY asset products whose business activities were suspected of being illegal.

Ardy reiterates that Vidy Foundation Ltd is not aware of and is not related to this party. Because he only trades by crypto trading companies that are accommodated by PT Indodax Nasional Indonesia, in addition to other global exchanges.

"Once again, we emphasize that our client's crypto-asset products are legal products that have been registered with BAPEPTI based on the Commodity Futures Trading Regulatory Agency 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 explained.

At the end of the conversation, the attorney for Vidy Foundation Ltd hopes that in the 2022 Chinese New Year, his client's problems will be resolved.

"We hope that our client's VIDY coin and VIDYX problems will be resolved soon and re-listed on the Crypto Asset Physical Market in Indonesia", concluded Ardy.