Holding Hearings, Collaboration between Associations and OJK to Strengthen Crypto Trading in Indonesia

Illustration of crypto assets (photo: Pixabay)

JAKARTA - On September 8, the Indonesian Crypto Asset Traders Association (ASPAKRINDO) and the Indonesian Blockchain Association (A-B-I) held an audience with the Financial Services Authority (OJK) to discuss the mechanism for trading crypto assets in Indonesia.

Not only that, the audience was attended by several representatives from the OJK, including the Chief Executive of the Financial Sector Technology Innovation Supervisory, Digital Financial Assets, and Crypto Assets as well as Member of the OJK Board of Commissioners, Hasan Fawzi, who also shared knowledge about the development of the crypto industry in the country.

"This meeting is a significant step forward, we believe that collaboration between the crypto asset industry and regulators is very important to ensure sustainable and safe development for the crypto ecosystem in Indonesia," said ASPAKRINDO Deputy General Chair Yudhono Rawis.

Yudho said several important points had been discussed in the hearing, namely existing regulations, challenges faced by the industry, as well as steps that had been taken to increase transparency, security, and consumer protection in crypto trading.

However, according to him, one of the most important points is about efforts to create a clear and fair regulatory framework for crypto asset trading in Indonesia, to ensure that consumers and investors are well protected.

Yudho, who also serves as CEO of Tokocrypto, also hopes that ASPAKRINDO and A-B-I can work together with OJK in formulating balanced and progressive regulations, to help create a conducive environment for the growth of the crypto industry, while still maintaining market integrity and security.

Apart from that, realizing the importance of understanding the risks and benefits of crypto assets, ASPAKRINDO and A-B-I are also committed to providing better education to the public about crypto assets and their potential.

This meeting ended with an agreement to continue dialogue between the crypto asset industry and the OJK. Both parties will continue to collaborate to reach agreements that benefit all parties and to develop a better crypto asset ecosystem in Indonesia.