Tokocrypto CEO Affirms The Importance Of Development Of Digital Financial Asset Instruments In Indonesia

Yudhono Rawis at the OJK FGD (photo: Tokocrypto)

JAKARTA - At the end of March, the Financial Services Authority (OJK) held a Focus Group Discussion (FGD) entitled Digital Financial Asset Supervision and Development Framework including Crypto Assets.

This FGD aims to attract input from stakeholders regarding the supervision and development of crypto assets in Indonesia, in line with the transfer of supervisory authority from CoFTRA to OJK.

Deputy Chairperson of the Indonesian Crypto Asset Traders Association (ASPAKRINDO) Yudhono Rawis who was also present in the FGD conveyed the importance of collaboration between industry players and regulators in building strong regulations.

"A strong synergy is needed between regulators and industry to create a healthy and innovative digital financial asset ecosystem reminiscent of potential risks that accompany crypto assets," said Yudho, quoted Thursday, April 4.

Yudho also hopes that with the issuance of the P2SK Law, crypto assets will become a new asset class which is part of digital financial assets.

He also conveyed that the development of digital financial asset instruments is also an important focus. The reason is, blockchain technology and tokenization can open the door for innovation in the financial sector.

"Currently, several global regulators have used this technology to increase transaction efficiency and accelerate the operations of financial institutions," explained Yudho, who is also the CEO of Tokocrypto.

Yudho hopes that OJK can explore this potential so that more digital financial asset providers, including crypto assets, are interested in developing use cases in the financial sector.

"With the collaboration between regulators and industry players, Indonesia is on the right track to take full advantage of digital financial assets, including crypto assets, in supporting national economic growth," he concluded.