Bappebti issues regulation to the determination of the list of crypto assets traded on the physical market of crypto assets
JAKARTA - The Ministry of Trade through the Commodity Futures Trading Regulatory Agency (Bappebti) continues to innovate following the development of trading in the physical market of crypto assets. This is marked by the issuance of the Commodity Futures Trading Supervisory Agency Regulation (Perba) Number 11 of 2022 concerning the Determination of the List of Crypto Assets Traded in the Physical Crypto Asset Market. This regulation also revokes Bappebti Regulation Number 7 of 2020.
“The issuance of this Perba is to accommodate the needs of prospective crypto asset traders, including the crypto asset industry in Indonesia. This is in accordance with the data growth in the number of customers and the volume of crypto asset transactions that continue to increase, as well as the types of crypto assets that continue to grow,” explained Plt. Head of Bappebti Didid Noordiatmoko.
Didid said that the Perba stipulated 383 types of crypto assets that could be traded on the physical crypto asset market. Meanwhile, for types of crypto assets outside the list, it must be delisted by prospective physical crypto asset traders followed by settlement steps for each crypto asset customer.
This regulation adopts a positive list approach that aims to minimize the risk of trading crypto assets that do not have a clear whitepaper or that have illegal purposes such as money laundering and so on. Head of the Bureau of Legislation and Enforcement of Bappebti, Aldison added, "This regulation regulates the procedures, requirements, and mechanisms for adding and subtracting crypto assets in the list of crypto assets traded. (LM)