Trading digital currency or crypto assets in Indonesia is being more tightened with the latest regulation. The regulation is issued by the Ministry of Commerce. Recently, the Ministry of Trade (Kemendag) requires that crypto products being traded must be registered with the Commodity Futures Trading Supervisory Agency (Bappebti).
These basic rules must be complied with so that sellers and buyers are allowed to transact crypto in Indonesia. Also, this was confirmed by the Acting Head of Bappebti, Indrasari Wisnu Wardhana.
Quoted from the Ministry of Trade website, Monday, he said, “New Crypto Assets that will be traded must first be registered with Bappebti through Prospective Crypto Asset Physical Traders who have been registered for evaluation based on established regulations. Determination of crypto assets is carried out through the Analytical valuation method. Hierarchy Process (AHP) which has several assessment criteria.”
According to him, this rule was issued to provide legal certainty for people who will invest. That way, they will get clear and legal information on the crypto assets being traded.
In the regulation, his party has set the conditions for crypto assets that can be traded on the physical market for crypto assets. Currently, said Wisnu, Bappebti has also determined 229 types of crypto assets that can be traded on the physical market for crypto assets so that traders
He advised the public to only invest or transact in cryptocurrencies that have been registered and have been set by Bappebti.
Regarding Indonesian crypto assets made by the nation’s children, in principle, Wisnu sees this as a positive thing. As long as it complies with the applicable rules and regulations, domestically made crypto assets can be traded.