Revision Of The P2SK Law: Aspakrindo Proposes Crypto As A Means Of Payment, Industry Welcomes Positive

Tokocrypto CEO Calvin Kizana. (photo: dock. VOI)

JAKARTA - The Association of Blockchains and Indonesian Crypto Asset Traders (Aspakrindo-ABI) submitted a suggestion that the revision of the Financial Sector Development and Strengthening Law (UU P2SK) can provide wider space for crypto innovation.

Deputy Chairperson of Aspakrindo-ABI, Yudhono Rawis emphasized, harmonization with the banking sector and the payment system. Because according to him, the United States has implemented where stablecoins are starting to be recognized for daily payment transactions.

Our recommendations are related to innovation, especially for payment instruments. Payments are still regulated at Bank Indonesia, while exchanges and blockchains are on the OJK. We hope that with harmonization between institutions, crypto can develop from investment instruments into payments," said Yudho.

Tokocrypto CEO, Calvin Kizana, positively welcomed the proposal submitted by the association by emphasizing the importance of a progressive and adaptive regulatory framework.

According to him, clear and harmonious regulations not only provide certainty for industry players, but are also able to pave the way for wider crypto adoption in society.

Calvin assessed that the association's initiative to encourage crypto as a payment instrument is an important momentum for Indonesia not to be left behind from other countries.

If directed properly, crypto can be a catalyst for accelerating digitalization of national finance, as well as strengthening the competitiveness of the financial technology industry at the global level.

"Some things that can be considered include providing lighter tax incentives, accelerating the process of listing new tokens, to supporting innovative products such as Staking and Futures," he concluded.