1 month ago
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December 29, 2024 | 04:46 pm
TEMPO.CO, Jakarta - Indonesia's Financial Services Authority (OJK) revealed that the new regulation on crypto asset trading has adopted many of the rules previously made by the Commodity Futures Trading Supervisory Agency (Bappebti). The aspects that are mostly adopted relate to crypto asset trading activities.
Chief Executive of the Financial Sector Technology Innovation Supervisory Agency, Digital Financial Assets, and Crypto Assets of OJK, Hasan Fawzi said that the adoption was stated in OJK Regulation Number 27 of 2024 concerning the Implementation of Digital Financial Asset Trading Including Crypto Assets (POJK 27/2024). The policy, said Hasan, provides legal certainty for crypto asset market players.
"Especially after the transfer of duties for regulating and supervising crypto assets from Bappebti to OJK," said Hasan when contacted by Tempo, Friday, December 27, 2024.
In addition, Hasan said that this regulation is a follow-up to the mandate of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (PPSK Law). The plan is for the transition to begin on January 12, 2025.
Hasan said that OJK recognizes all permits and registrations that have been issued by Bappebti, starting from permits that have been given to physical crypto asset traders, crypto exchanges, clearing institutions, crypto asset storage places, to lists of crypto assets that can be traded.
"We recognize all of them without the obligation of the actors to re-apply to OJK," he said.
In addition, he said that the transfer of duties for regulating and supervising crypto assets is one of the priorities and focuses of work in his field. "We are strengthening the capacity of employees to be ready to accept the transfer of duties," he said.
According to him, OJK has conducted in-depth research on the profile and ecosystem of the national crypto asset industry, including conducting comparative studies on the regulation and supervision of similar industries in other countries. In addition, various consultation and coordination activities are also carried out with related ministries including Bappebti and national crypto asset actors.
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