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Jakarta Post

Trade Ministry issues four regulations on crypto assets

  • News Desk

    The Jakarta Post

Jakarta   /   Tue, February 19, 2019   /   08:21 am
Trade Ministry issues four regulations on crypto assets Gold-plated souvenir bitcoins are arranged for a photograph in London on Nov. 20, 2018. The Trade Ministry's Futures Exchange Supervisory Board has issued four regulations that treat crypto assets as commodities. (AFP/Justin Tallis)

The Trade Ministry's Futures Exchange Supervisory Board (Bappebti) has issued four regulations that treat crypto assets as commodities.

“Those regulations will become the legal basis for the trading of crypto assets as commodities that could become the subjects of futures contracts and other derivative contracts traded in the stock market,” said Bappebti chairperson Indrasari Wisnu Wardhana in a statement on Monday.

“The regulations will also facilitate the growth and development of the digital trading of physical gold through futures stocks,” he added.

Wisnu said the issuance of the regulations was part of the government’s intention to follow the fast development of futures commodities and an effort to facilitate the development of digital commodity innovation.

The official added that Bappebti was committed to establishing legal certainty and protection for people and to provide legal certainty in the sector.

The four regulations were also a follow-up to Trade Ministerial Regulation No. 99/2018 on general policy on the implementation of crypto assets and Trade Ministerial Regulation No. 119/2018 on general policies for digital trading of physical gold through futures stocks.

“We hope that the issuance of the regulations will improve confidence and integrity among the traders in futures commodities for carrying out transactions in both crypto assets and digital gold,” Widnu added. (bbn)