JAKARTA, Monday, May 13, 2024 – Indonesia’s financial regulatory body, the Commodity Futures Trading Regulatory Agency (Bappebti), has formed a dedicated committee to monitor the cryptocurrency industry’s operations and compliance. 1
Plt. Head of CoFTRA Kasan disclosed at the inauguration of the 2024 Crypto Literacy Month (BLK) event in Jakarta on May 2, 2024.
This committee, known as the Crypto Asset Committee, was established under regulations enacted in January 2024.
Bappebti said that it views cryptocurrencies as commodities and aims to ensure the industry functions smoothly while adhering to legal frameworks.
The Crypto Asset Committee brings together various stakeholders to achieve this goal.
Representatives from various sectors contribute their expertise to the committee’s endeavors.
Bappebti representatives provide regulatory expertise and oversight, ensuring compliance and adherence to established guidelines.
Government ministries offer broader economic and social perspectives, enriching discussions with a holistic understanding of the implications of regulatory decisions. Crypto exchanges contribute industry insights and best practices, drawing from their experience in navigating the evolving landscape of digital assets.
Clearing institutions play a crucial role in ensuring smooth financial transactions within the crypto ecosystem, promoting efficiency and reliability.
Industry associations represent the collective voice of crypto businesses, advocating for their interests and concerns. Academics contribute valuable research and analysis, providing evidence-based insights to inform policy decisions.
Practitioners bring real-world industry experience to the table, offering firsthand knowledge and insights into operational challenges and opportunities. Together, these diverse stakeholders collaborate to address regulatory challenges and promote the growth and stability of the crypto industry.
The establishment of the Crypto Asset Committee aligns with regulations introduced in January under CoFTRA Regulation Number 8 of 2021.
- Crypto Committee: https://bappebti.go.id/pojok_media/detail/14260[↩]
