Elected By OJK Commissioner For Crypto Supervisory, Tokocrypto: Hopefully The Implementation Of Crypto Asset Trading Will Be Better

Hasan Fawzi, Chief Executive of the Supervision of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets (photo: ANTARA)

JAKARTA - Commission XI of the Indonesian House of Representatives has chosen Hasan Fawzi as the Chief Executive of the Financial Sector Technology Innovation Supervision, Digital Financial Assets, and Crypto Assets as concurrently a member of the Board of Commissioners of the Financial Services Authority (OJK) for the period 2023-2028.

The addition of commissioners is in accordance with the mandate of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK). Where OJK is tasked with supervising the financial sector as a whole starting from banking, capital markets, pension funds, insurance, fintech, crypto transactions to cooperatives.

Regarding crypto transaction activities, it has been agreed that there will be a transfer of supervision of digital financial assets including crypto assets from previously run by the Commodity Futures Trading Supervisory Agency (CoFTRA) to OJK.

Tokocrypto CEO Yudhono Rawis appreciated and welcomed Hasan Fawzi's election as the new Board of Commissioners at the OJK who would later oversee the crypto sector.

"The purpose of this supervision is to ensure that the development of the industry provides tangible benefits and does not pose new risks to the economy," Yudho said in his official statement.

Through the P2SK Law, Yudho hopes that the coordination and strengthening of the role of relevant ministries and institutions in regulating the implementation of crypto asset trading will be better.

"With the new OJK commissioner, we hope that crypto asset investment can become more inclusive and cover all levels of society," he added.

On the other hand, Yudho also expressed his appreciation to CoFTRA for the efforts that have been made to build a crypto ecosystem in Indonesia so far.

He hopes that the achievements that have been achieved by the crypto industry today can continue by prioritizing the interests of all stakeholders, including industry players, by ensuring a clear, innovative, and transparent regulatory framework.

"CoFTRA has contributed tremendously in building the crypto asset industry in Indonesia. We hope to continue this legacy and collaborate with the OJK to realize a common vision in creating a sustainable ecosystem," concluded Yudho.