CFX Also Urges Crypto Traders To Accelerate Licensing

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bursa Komoditi Nusantara or known as CFX as the regulated crypto exchange in Indonesia encourages Candidates for Physical Traders of Crypto Assets (CPFAK) to accelerate the management of the registration process into Physical Crypto Asset Traders (PFAK).

CFX considers registration as PFAK to show the commitment of each CPFAK to provide services that not only meet high industrial standards but also comply with Indonesian government regulations. This is also part of CFX's ongoing efforts to support the growth of the crypto industry in Indonesia in a safe and orderly framework.

"We understand the importance of strong regulations for the future of the crypto industry in Indonesia. Therefore, CFX is fully committed to collaborating with CoFTRA and other stakeholders in creating a safe, transparent, and reliable crypto asset trading environment. We support CoFTRA in this regard in line with our role as an exchange for consumer security," said Subani as President Director of CFX, in a statement, Saturday, April 6.

In general, the steps for crypto asset traders (both CPFAK and Non-CPFAK) to obtain permission as PFAK from CoFebti began with obtaining an Approval Letter of Exchange Members (SPAB) and a recommendation letter from CFX as the regulated Crypto Exchange.

To obtain the SPAB and recommendation letters, crypto asset traders must register as Exchange Members and meet the requirements of the Exchange administration and technical documents.

After all the requirements have been met, CFX will issue a SPAB and a recommendation letter. Exchange members who have received a SPAB and a recommendation letter will continue the process at CoFTRA with the fulfillment of other requirements including the Fit and Proper Test to obtain approval as PFAK.

As stipulated in Circular No.47/BAPPEBTI/SE/03/2024, the Commodity Futures Trading Supervisory Agency (CoFTRA) concerning the Implementation of the Implementation of the Crypto Asset Physical Market Trading Implementation (Crypto Assets) to immediately submit a letter of approval as PFAK to CoFebti.

Adapun, saat ini dari 35 CPFAK dan 1 Non-CPFAK yang terdaftar di Bappebti, sudah 4 (empat) CPFAK yakni PT Pintu Kemana Saja (PINTU), PT Bumi Santosa Cemerlang (PLUANG), PT Kripto Maksima Koin (Kripto Maksima - GOTO Group) dan PT Aset Digital Berkat (TOKOCRYPTO) yang telah mendapatkan SPAB dari CFX. Sehingga dihimbau kepada para CPFAK untuk mendapatkan SPAB segera. Adapun pengumuman status SPAB setiap CPFAK dan non - CPFAK dapat diakses di www.cfx.co.id yang akan di update setiap kali ada perubahan mulai 5 April 2024.

For information, based on data from CoFTRA, since the regulation of crypto assets by CoFTRA until February 2024, the number of subscribers has reached 19.18 million. Meanwhile, the total crypto transactions in January-February 2024 reached IDR 55.26 trillion, this figure has increased 113.05 percent compared to the same period last year, which was IDR 25.94 trillion.