CoFTRA Will Form Crypto Asset Committee, This Is The Hope Of Industry Players!

Plans to establish a crypto asset committee (photo: Unsplash)

JAKARTA - After officially establishing the Crypto Exchange last July, the Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade has plans to form a Crypto Asset Committee.

Included in the CoFTRA Regulation (PerBa) Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading for Crypto Assets (Crypto Assets) on the Futures Exchange, this Committee will complement the crypto asset trading ecosystem in Indonesia which has already been formed.

The Crypto Asset Committee will later consist of elements from CoFTRA, related Ministries and Institutions, Futures Exchanges, Futures Clearing Institutions, associations, academics, practitioners, and certain communities. This committee will be responsible to the Head of CoFTRA.

Tokocrypto CEO Yudhono Rawis welcomed the plan to establish a crypto asset committee, and said his presence showed the government's commitment to understanding and adapting the fast-growing trading of crypto assets.

"This (committee) creates the openness and involvement of all stakeholders in creating a conducive environment for innovation and growth in the crypto asset trading sector," Yudho said in a statement received on Thursday, October 19.

With this committee, Yudho hopes that later there will be more collaborative discussions between the government and other stakeholders to overcome challenges and maximize the potential of this industry.

Yudho also emphasized the importance of the Crypto Asset Committee which will not only provide benefits to industry players, but also to the wider community.

"We at Tokocrypto are very excited about this government move and hope to work closely with the Crypto Asset Committee to ensure a bright future for the crypto asset industry in Indonesia," Yudho hoped.