JAKARTA - Plt. The Head of Bappebti, Didid Noordiatmoko, said that the Ministry of Trade through the Commodity Futures Trading Supervisory Agency (Bappebti) responded positively to the growing development of crypto asset trading. Among these, it can be seen with various examples of such rapid development and cooperation.
"In response to this, Bappebti continues to regulate and oversee crypto asset trading in a number of regulations, including licensing, in an effort to provide protection to consumers," said Didid.
Head of the Commodity Futures Trading Development and Development Bureau, Tirta Karma Senjaya, explained that currently Bappebti is establishing institutions involved in physical trading of crypto assets to maintain the security of trading transactions, ensure compliance with established regulations, and be transparent.
“Crypto-asset exchanges, clearing, and crypto-asset custodians are in the registration and licensing assessment stages. Bappebti does not want to rush to ensure that the ecosystem that is formed can run properly according to its function,” added Tirta.
The functions of each institution are as follows, a clearing institution, which functions as a depository for crypto asset customers. A minimum of 70 percent of customer funds are held in clearing institutions and 30 percent can be deposited with crypto asset traders, as well as completing crypto asset transactions.
Crypto asset custodian, functions as a depository for customers' crypto assets transacted at crypto asset traders. A minimum of 50 percent of the crypto assets to be transacted and 50 percent of the crypto asset traders. Meanwhile, crypto asset traders function as a place for carrying out crypto asset trading transactions. (LM)