CoFTRA Stop Trading Assets Crypto FTX

Illustration (Photo: Doc. Antara)

JAKARTA - Acting (Plt) Head of the Commodity Futures Trading Supervisory Agency (CoFTRA) Didid Noordiatmoko emphasized that the trading of FTX token crypto assets was officially stopped.

The move came after the FTX token filed for bankruptcy to a United States court, resulting in the public withdrawing massively and the FTX Token price continuing to drop drastically.

CoFTRA took steps to stop it following the fall of FTX into crisis on November 11, 2022 ago. Currently, FTX is in the process of filing a bankrupt status in the United States court system. In this regard, many customers made withdrawals from FTX on a large scale and caused the price to drop drastically," Didid explained, quoted from Antara, Thursday, November 17.

CoFTRA stopped trading crypto asset Token FTX on November 14, 2022.

The FTX token is one of 383 crypto assets contained in CoFTRA Regulation Number 11 of 2022 concerning Determination of a List of Crypto Assets Trading in the Physical Crypto Asset Market.

Didid added, CoFTRA carried out intense surveillance through supervision of crypto asset traders who facilitated the trading of FTX Tokens.

Thus, any prospective crypto asset physical trader who trades FTX tokens must pay attention, monitor, and analyze the development of the FTX Token to provide protection for crypto asset customers.

Headquartered in the Bahamas, FTX is a crypto trading company or asset that has global derivative and spot trading products and was founded in Antigua and Barbuda in 2019.

FTX has more than one million customers and has released FTX Token as its product.

Currently, there are several physical traders of crypto assets listed on CoFTRA that facilitate the trading of FTX Tokens.

CoFTRA noted, in January-October 2022, the transaction that occurred was worth IDR 106.5 billion with a total transaction volume value of 193,435.

Didid revealed that the FTX token share was only 0.038 percent of the total transaction value of crypto assets in Indonesia for the January-October 2022 period was recorded at IDR 279.8 trillion.

It is hoped that the Indonesian market will remain conducive and the public will not withdraw funds and assets on a large scale in Indonesia.

"Based on the results of analysis and considerations and for the safety and protection of the interests of crypto asset customers in Indonesia, we recommend that physical trading companies of crypto assets not facilitate the trading of FTX Token," explained Didid.

Physical trading companies of crypto assets are expected to make a settlement in accordance with statutory regulations.

Meanwhile, the Head of the Futures Trading Development and Development Bureau, Tirta Karma Senjaya, explained that the volatility of the value of crypto assets is part of the risk of investment that must always be studied and analyzed by every customer.

Investment in crypto assets is an instrument that is very volatile or easy to change. This means that you can reap huge profits in a short time, but the potential loss is also very large (high risk, high return). Customers need to be vigilant.

In addition, CoFTRA will review the list of crypto assets traded on the physical crypto asset market following the current condition of the FTX Token.

It is hoped that crypto asset physical traders who no longer trade one type of registered crypto asset will first submit a written notification to CoFTRA.

"The request includes the number of customers and the number of crypto assets owned since the date of termination and the total value of crypto assets in the rupiah," explained Tirta.

Diharapkan, sebelum memutuskan untuk bertransaksi, ketahui terlebih dahulu profil dan legalitas pelaku usaha dan jenis aset kripto yang diperdagangkan. Informasi tersebut dapat diakses dengan mudah melalui tautan https://www.ceklegalitas.bappebti.go.id.