PINTU Application Prioritize Crypto Investing Security

Photo: Doc. Between

JAKARTA - Discussions about crypto investment continue to attract people's attention with the many events that have occurred recently. In the midst of the positive acceptance of crypto assets, investors are starting to worry about the level of security they have in crypto investments. Starting from the security of the crypto asset traders themselves, the assets to be invested, to how the regulations regulate to protect investors.

Answering the many concerns, PINTU explores in depth a podcast program entitled "Is Crypto Safe?" together with Timothius Martin, Chief Marketing Officer of PINTU, and Malikulkusno Utomo, General Counsel of PINTU.

"Speaking of crypto investment security, we need to look at several factors, namely from the legal point of view, traders of crypto assets must be registered with the Commodity Futures Trading Regulatory Agency (Bappebti) and supervised by the Ministry of Communication and Information (Kominfo). The next factor is to see how the company performs. or the crypto asset traders themselves, and we can assess them from the feedback provided by users. At least we can do some of these factors before deciding to put our assets to invest in centralized exchanges that are officially operating in Indonesia", said Timothius in his statement, quoted Tuesday, August 16.

Timo added, that PINTU as a physical trader of crypto assets registered and operating legally in Indonesia continues to improve the security of investors' assets. It cooperates with world-class custodians to safeguard crypto assets belonging to users at PINTU.

"These various custodians store assets in cold wallets, a place to store crypto assets that are offline or not connected to the internet. Therefore, the assets at PINTU have a world-class standard of security so that tens of millions of crypto investors in Indonesia do not have to worry about security. assets", he explained.

Crypto investment is known for its volatility, however, the number of crypto investors in Indonesia continues to grow. Data from CoFTRA the number of crypto investors until June 2022 reached 15.1 million with a transaction value of IDR 212 trillion.

Malikulkusno Utomo or called Dimas, General Counsel of PINTU revealed, that to provide legal certainty and protection for crypto investors whose numbers continue to grow, the government through CoFTRA has legalized and regulated crypto assets since 2019 through Regulation Number 5 of 2019, and these rules were refined again in Regulation Number 8 of 2021.

"Furthermore, in terms of taxation, crypto investment has also been regulated through the Minister of Finance Regulation (PMK) Number 68/PMK.03/2022 which has been in effect from May 1, 2022", explained Dimas.

Dimas added, that still in ensuring security, CoFTRA mandates all physically registered crypto asset traders to separate fund accounts owned by customers from the company's operational fund accounts. It is a principle of CoFTRA to keep customer funds safe.

"In terms of regulations, aspects of legality, security, and supervision have been designed more sophisticated by CoFTRA to ensure overall security for investors and traders of crypto assets", he said.

In addition to the growth in the number of crypto investors, prospective physical traders of crypto assets also continue to increase, CoFTRA noted that by the end of 2021, there are 11 new potential physical traders of crypto assets. But now the number has more than doubled, namely, there are 25 companies officially registered with CoFTRA, one of which is PT Pintu Kemana Saja with the PINTU brand which has been serving investors since 2020.

"The ups and downs of the crypto industry with many events happening locally and globally is a phrase that is common in the financial industry, especially since crypto is still relatively new compared to other financial asset instruments. The principle is that to invest in various financial instruments, we need to return to fundamentals, both in terms of the assets invested, regulations, to the fundamentals of the exchange itself", concluded Timothius Martin.