JAKARTA – The cryptoassets that will be traded in Indonesia must register themselves in the Commodity Futures Trading Regulatory Agency (lit. Badan Pengawas Perdagangan Berjangka Komoditi/Bappebti) of the Ministry of Trade. Wisnu Wardhana, the Acting Head of Bappebti of the Ministry of Trade, declared the rules in the press release quoted Monday (14/2).
“The cryptoassets are registered in Bappebti through the authorised designated cryptoassets physical seller, abiding by the predetermined regulation. The asset reception will be preceded by an analytical hierarchy process (AHP) with several evaluation criteria,” Wardhana explained.
According to Wardhana, the obligation to register the cryptoassets is stated in the Bappebti Regulation No.7/2020 regarding the Fixation of the List of Cryptoassets Tradable in the cryptoassets physical market. Currently, Bappebti has reckoned 229 types of cryptoassets. This regulation is intended to provide a legal safety net for the public interested in cryptoassets investments.
The Trade Ministry also issued Bappebti Regulation No.8/2021 regarding the Guideline of Trading in the Cryptoasset Physical Market in the Futures Market. It consists of legal certainty and cryptoassets user protection. It is intended to facilitate the innovation, growth, and development of business activities in the cryptoassets physical market. (LK/ZH)