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Bappebti Collaborates with Aspakrindo to Strengthen Crypto Education & Supervision

Bappebti Collaborates with Aspakrindo to Strengthen Crypto Education & Supervision

The Commodity Futures Trading Regulatory Agency (Bappebti) of the Ministry of Trade officially cooperates with the Indonesian Crypto Asset Traders Association (Aspakrindo) to optimize the development, empowerment and supervision of the ecosystem for organizing crypto asset physical market trading in Indonesia. The collaboration between the two parties was formalized through the signing of a cooperation agreement (PKS) between Acting Head of CoFTRA Didid Noordiatmoko and Aspakrindo Chairman Teguh Kurniawan Harmanda.

Meanwhile, the PKS regulates the optimization and synergy of the development of the implementation of crypto asset physical market trading. Didid said this collaboration was one of the efforts of the government and associations to increase investor literacy and education regarding crypto assets. This collaboration will also optimize supervision of crypto asset trading in Indonesia.

“Investing in crypto assets carries a fairly high risk. By their nature, the value of crypto assets is highly volatile. It could have experienced a very drastic increase and decrease in value in a short period of time,” Didid explained in his official statement.

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Didid explained that with this agreement, business actors can properly implement CoFTRA Regulation (Perba) Number 13/2022 concerning Amendments to Perba Number 8 of 2021 concerning Guidelines for Organizing Crypto Asset Physical Market Trading on the Futures Exchange. This is to improve and unify the steps of all stakeholders in the field of crypto assets so as to create synergistic optimization and coordination. Meanwhile, this step was taken in several aspects. First, coaching and supervision of physical traders of crypto assets or prospective physical traders of crypto assets.

Second, education and literacy for customers, prospective customers, the public and stakeholders. This education and literacy is expected to increase the understanding of related actors regarding crypto assets, physical trading of crypto assets, and regulations. Furthermore, the cooperation agreement will also promote the development of trading on the physical market for crypto assets. This is to create a more massive, transparent, and systematic penetration of the physical market for crypto assets.

In addition, PKS can also increase the protection of the public and customers of crypto assets in order to create regular, fair, efficient, effective and transparent trading of crypto assets in an atmosphere of fair competition. “This agreement also forms the basis for submitting data and/or information in the framework of development, the process of handling disputes, checking data for law enforcement activities,” Didid said. Meanwhile, Chair of Aspakrindo Teguh Hermanda Kurniawan said that the collaboration between the two parties was an important step for the growth and development of the crypto asset industry in Indonesia.

He believes this collaboration will create synergies that will have a positive impact on all parties. “Bappebti is a central institution in the crypto asset trading sector and has established strategic partnerships with business actors. We will continue to develop partnerships with cooperative principles, working hand in hand to increase the growth of the crypto asset trading industry in Indonesia,” said Manda. Manda added, Aspakrindo grew into an institution with a strong and large organizational structure, involving all members. Until now, Aspakrindo has members totaling 22 prospective crypto asset traders.

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