Indonesia tightens supervision on crypto asset trading
The Indonesian Ministry of Trade's Commodity Futures Trading Regulatory Agency (Bappebti) is tightening the supervision of crypto asset trading in order to ensure that investors receive clear information on every traded crypto asset.
Jakarta (VNA) – The Indonesian Ministry of Trade's Commodity Futures Trading Regulatory Agency (Bappebti) is tightening the supervision of crypto asset trading in order to ensure that investors receive clearinformation on every traded crypto asset.
In a statement announced on February 13, Acting Head ofBappebti Indrasari Wisnu Wardhana stressed that every crypto asset product should be registered with the agencyand any type of crypto asset that do not comply with the agency’s regulations cannot be traded in Indonesia
Previously, Bappebti had issued a regulation on determining the list of crypto assets that could be traded in the crypto assetphysical market in 2020, and another one that lists the conditions of cryptoassets that could be traded in the market in 2021.
Indonesians could invest in cryptoasset types that have been determined by the agency's regulations, he noted.
He urged the public to understand the mechanismand the risk before choosing to invest in crypto assets.
InJanuary, the Trade Ministry of Indonesia reported that the value of cryptotransactions in the Southeast Asian country could triple to 2.5 quadrillion rupiah(180 billion USD) this year as more Indonesians become aware of digital assets.
Accordingto the Bappebti, the number of crypto investors in Indonesia rose to 11.2million last year from only 4 million in 2020.
As of January 2022, Indonesia has 11 cryptocurrency tradingplatforms licensed by Bappebti./.
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