The Head of the Commodity Futures Trading Supervisory Agency (Bappebti), Didid Noordiatmoko, revealed that there would be additional costs after the launch of the Indonesian Crypto Exchange.

Didid explained that this additional cost was because PT Bursa Komoditi Nusantara or Commodity Future Exchange (CFX), as a crypto asset exchange, needed a fee to continue its business.

“With the existence of crypto exchanges, clearing institutions and custodians there will definitely be additional fees. Later they will discuss this in business terms with exchangers,” Didid told reporters after the inauguration ceremony for the Indonesian crypto exchange, Friday (28/7/2023).

Even so, Didid hopes that the fees provided can be transparent, fair, and do not burden various parties.

So far, it has not been determined that additional fees will be charged to exchangers or consumers. But Didid said this cost could be covered because the presence of a crypto exchange could open up new potential for the crypto industry.

“Currently we are still trading spot crypto. But with the existence of the crypto exchange there will be new features such as staking, derivatives or futures. This feature is expected to cover additional costs because the potential is large. Spot trading is likened to being just the skin while the core of the fruit is in the features others,” Didid explained.

Regarding plans for new features, CoFTRA hopes that by the end of 2023 these new features will roll out. Didid also said that transactions on crypto exchanges are expected to start next month. Exchangers who have not yet registered to become exchange members are also given until next month.

“In technical terms, we have made good regulations for the exchange, clearing and custodian. We have also given exchangers time to register as members of the exchange no later than next month,” Didid said.

Out of around 30 Prospective Crypto Asset Physical Traders (CPFAK) registered with Bappebti, only 23 CPFAK have just been registered as exchange members.