Crypto Industry Actors In Indonesia Committed To Support Mitigation Of Crypto Asset Protection

Tokocrypto CEO Yudhono Rawis (photo: Doc. VOI)

JAKARTA - The Commodity Futures Trading Supervisory Agency (CoFTRA) continues to mitigate to maintain stability and protect crypto investors who are growing rapidly today.

This effort received full support from industry players. Deputy Chairperson of the Association of Blockchain & Indonesian Crypto Asset Traders (Aspakrindo-ABI), Yudhono Rawis, expressed his commitment to supporting the development of the crypto asset ecosystem in Indonesia.

According to him, crypto asset industry players in Indonesia see the initiative of CoFTRA as a positive step in strengthening this developing ecosystem.

"The steps taken by CoFTRA, such as strengthening regulations, increasing the competence of human resources, and optimizing the crypto asset ecosystem, are considered an important foundation to ensure sustainable and healthy growth for the industry," Yudho said in a statement.

Crypto asset industry players in Indonesia have also shown a strong commitment to support CoFTRA mitigation measures, one of which is strengthening education and literacy.

In addition, crypto industry players always maintain close communication with CoFTRA and the Financial Services Authority (OJK) during the transitional regulation and supervision to provide input and suggestions related to regulations to protect investor interests.

Not only that, but Candidates for Physical Traders of Crypto Assets (CPFAK) also continue to improve the security of their platforms to prevent hacking and theft of crypto assets.

The implementation of strict KYC (Know Your Customer) and AML (Anti-Money Laundering) is also the main focus. Moreover, currently, there are several CPFAKs that have received crypto exchange membership certificates and clearing, are conducting audits to obtain licenses to become physical Crypto Asset Traders (PFAK) from CoFebti.

"With close collaboration between regulators and industry, it is hoped that the crypto asset industry in Indonesia can grow rapidly and provide benefits to all parties," he concluded.