CoFTRA: The Future Of Crypto Assets Made In Indonesia Has A Bright Future

Illustration. (Photo: Unsplash)

JAKARTA - The Commodity Futures Trading Regulatory Agency (Bappebti) assesses that the future of crypto assets made in Indonesia is bright enough that it needs support from all circles.

Acting (Plt) Head of the Commodity Futures Trading Supervisory Agency (CoFTRA), Indrasari Wisnu Wardana said, the potential and innovation of the nation's children as well as the potential of the crypto asset market in Indonesia is very large and continues to grow.

"In recent years, several Crypto Assets made by the nation's children have been marketed in several global markets, and some have been registered in CoFTRA Regulation Number 7 of 2020," he said in a written statement in Jakarta, quoted from Antara, Tuesday, February 22.

Wisnu said that domestically produced crypto assets are something positive and must be supported, however, all tokens must be registered and authorized by CoFTRA.

This, he continued, was an effort by the state to protect crypto actors and consumers. With regular monitoring, assessment and evaluation from CoFTRA, it is hoped that all processes in the crypto industry will be more secure.

He said that in order to be officially traded at domestic exchangers, all tokens had to go through registration, assessment and endorsement by CoFTRA.

CoFTRA has issued CoFTRA Regulation Number 8 of 2021. In this regulation, it is stated that Crypto Assets can be traded on the Crypto Asset Physical Market.

"Crypto Assets that can be traded domestically refer to CoFTRA Regulation Number 7 of 2020 concerning the Establishment of a List of Crypto Assets that can be Traded in the Physical Crypto Asset Market," said Wisnu.

Currently there are 229 crypto tokens on the CoFTRA list, he added, in the future this number could increase, including the possibility of domestic crypto tokens.