JAKARTA - The Ministry of Trade (Kemendag) had decided that 229 types of crypto assets could be traded on a physical crypto-asset exchange. This was conveyed by Sidharta Utama, Head of Commodity Futures Trading Regulatory Agency (Bappebti) of Ministry of Trade, in a press release quoted on Thursday (14/1).

He explained that the legal protection for this decision was stipulated in Bappebti Regulation No.7, which came into effect on December 17, 2020. "This regulation is expected to provide legal certainty and protection to public in crypto-asset transactions,” said Utama.

The types of crypto assets that can be traded include Bitcoin, Ethereum, Tether, Ripple, Bitcoin Cash, Binance Coin, Polkadot, Chainlink, Lightcoin, and Litecoin.

Mr. Utama also said that issuance of the legal protection was to prevent the use of crypto assets for illegal purposes, namely, money laundering, terrorism financing and development of mass destruction weapons. Current trading of physical crypto assets continues to show strength where the price of one Bitcoin reaches 450 million. "These prices are likely to rise in the future," he added. (LK/VA)