CoFTRA: Need To Improve Literacy And Education To Maximize Public Understanding On Crypto

Photo: Doc. Antara

JAKARTA - Head of the Commodity Futures Development and Development Bureau, CoFTRA Tirta Karma Sanjaya, assesses the need for increased literacy and education to maximize public understanding and increase crypto adoption in Indonesia.

Tirta explained that before investing, investors must do independent research or 'Do your Own Research' (DYOR), and ensure that they choose a legal platform registered with CoFTRA. In addition, always use cold money when investing in crypto

"Regulators who regulate the crypto industry have the same mission, namely so that people can transact crypto safely and comfortably. Like in CoFTRA which is also equipped with the Crypto Asset Committee," Tirta said at the Reku Finance Flash event in Jakarta, quoted from Antara, Wednesday, May 29.

He said the Crypto Asset Committee acts as one of the driving motors ensuring the wheels of the crypto asset industry run in the corridor of laws and regulations in force in Indonesia. Including for traders or exchanges, thus providing more protection for crypto investors in Indonesia.

The Crypto Asset Committee consists of several elements, including CoFTRA, related ministries and institutions, crypto asset exchanges, and crypto asset clearing institutions. There are also associations in the fields of crypto assets, academics, practitioners, and related associations.

However, he continued, investor protection will be difficult if people do not invest in the platform registered with CoFTRA.

Therefore, CoFTRA continues to urge the public to invest in platforms listed on CoFTRA so that they can get appropriate protection. In addition, keep research before making decisions. Especially when the condition of the crypto market is at a potential rally," he said.