PINTU Becomes The First Crypto Trader In Indonesia To Get A Full License

Photo: Doc. DOOR

JAKARTA - PT Pintu Kemana Saja (PINTU), a crypto all-in one application, is proud to announce that it will be the first crypto company in Indonesia to obtain an approval letter as a Physical Crypto Asset Trader (PFAK). This decision is contained in the letter of the Head of the Commodity Futures Trading Supervisory Agency (BAPPEBTI) Number 01/BAPPEBTI/PFAK/08/2024.

General Counsel PINTU Malikulkusno Utomo (Dimas) appreciates all parties for officially ratifying PINTU from Candidates for Crypto Asset Traders (CPFAK) to PFAK.

"Thank you and the highest appreciation to BAPPEBTI, the Self-Regulatory Organizations (SRO); CFX crypto exchange, Indonesian Commodity Clearing (KKI), and Indonesia Coin Custodian (ICC), which have fully supported and cooperated with us so that PINTU legality side and can carry out operations in full accordance with the provisions that apply legally in Indonesia," he said, in a written statement, Friday 2 August.

Dimas added that the process of changing the status of CPFAK to PFAK requires efforts and compliance with strict standards.

"We believe that meeting these requirements is not only important for crypto companies to comply with the laws in force in Indonesia, but also to ensure that traders can maintain credibility and continue to provide the best service for domestic crypto investors," he explained.

In accordance with BAPPEBTI Regulation Number 8 of 2021 as amended by BAPPEBTI Regulation Number 13 of 2022 through Article 14, for CPFAK who wish to apply for a permit to become PFAK need to meet the requirements and criteria, including:

- Have a minimum paid-up capital of IDR 100 billion.- Maintaining equity of at least IDR 50 billion.- Having a minimum organizational structure of technology information divisions, audit divisions, legal divisions, complaints division of crypto asset customers, client support division, and accounting and finance division.- Having an online trading system used to facilitate the implementation of physical market trading Crypto Assets connected to Futures Exchange and Futures Clearing Institutions.- Having standard operating procedures (SOPs) include at least regulating marketing, transactions, internal supervision, dispute resolution, and application of Anti Money Laundering, prevention of terrorism financing as well as proliferation of weapons of mass destruction. Until, the obligation to have ISO 27001, ISO 27017 (cloud security), and ISO 27018 (cloud privacy).

Based on data from BAPPEBTI, as of July 2024 CPFAK which already has a list sign from BAPPEBTI of 35 CPFAK. Of the 35 CPFAK, PINTU is the first crypto company to obtain an approval letter to become PFAK.

"With the new status as PFAK, we believe that investor confidence in PINTU will be stronger so as to strengthen our position as leaders in the Indonesian crypto industry. We are committed to continuing to innovate and collaborate with all relevant parties, including regulators, SRO institutions, and the crypto community, to be able to present crypto investment solutions that can be the main choice for crypto investors in Indonesia," concluded Dimas.