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February 24, 2025 | 10:53 am
TEMPO.CO, Jakarta - Indonesian cryptocurrency exchange PT Central Finansial X (CFX) projects that the volume of cryptocurrency asset transactions will increase this year. This increase is driven by the growth in the number of customers and new products that were active at the end of 2024.
"We expect transaction volumes to be even better this year and potentially continue to increase with the presence of new crypto derivative products that were active towards the end of last year," said CFX President Director Subani at The Michael Resort, Bogor, on Saturday night, February 22, 2025.
Last year, the Commodity Futures Trading Regulatory Agency (Bappebti) recorded a 335 percent increase in the value of cryptocurrency asset transactions, or fourfold annually, from Rp149.25 trillion to Rp650.61 trillion. Meanwhile, the number of cryptocurrency asset customers has also reached 22.91 million customers.
Subani stated that his institution urges customers to transact cryptocurrency assets on 16 platforms that have become CFX members and are supervised by the Financial Services Authority. All of these platforms have been licensed as Digital Asset Financial Traders (PADK) by the OJK and have become CFX members.
"Consumers will be protected from the threat of investment fraud from illegal cryptocurrency trading platforms," Subani said.
CFX is now the world's first licensed cryptocurrency exchange under the supervision of the Financial Services Authority (OJK). CFX claims to be committed to supporting the growth of the cryptocurrency asset industry with integrity. To date, there are a total of 31 cryptocurrency asset trading platforms registered with CFX.
Subani stated that CFX applies security standards and verification discipline to maintain sustainable growth in the cryptocurrency asset industry. This includes comprehensive Know Your Customer (KYC) and Anti Money Laundering (AML) procedures for cryptocurrency traders. Therefore, he said, CFX is transparent in the cryptocurrency asset industry.
"We proactively work with regulators and law enforcement agencies to prevent the misuse of cryptocurrency assets for illegal activities in Indonesia. Moreover, the cryptocurrency trading ecosystem is now complete, as a Self Regulatory Organization (SRO), the presence of CFX, PT Kliring Komoditi Indonesia (KKI), and PT Kustodian Koin Indonesia (ICC) is crucial in adding security and increasing trust levels for all cryptocurrency users," he said.
He revealed that the rapid growth of the industry must also be in line with the increasing literacy of the community regarding cryptocurrency assets. Based on a report from cryptoliteracy.org in 2024, the level of cryptocurrency asset literacy is still relatively low. Data shows that only 31.8 percent of the population understands the basic principles of investing in cryptocurrency assets. Therefore, Subani hopes that cryptocurrency asset literacy among the community will increase this year.
"The growth of the cryptocurrency asset industry in Indonesia is on the right track, and CFX is not stopping in driving educational programs and literacy, as has been carried out in February through Crypto Literacy Month," he said.
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