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Jakarta Post

Welcome, crypto assets!

  • Muhammad Alpian Ramli

Jakarta   /   Fri, March 15 2019   /  01:35 am

After a long time waiting, Indonesia has finally opened the door to crypto assets, including cryptocurrencies like Bitcoin. Just a couple of weeks ago, the Commodity Futures Trading Supervisory Authority (Bappebti) enacted a series of regulations that legitimate and recognize crypto assets as commodities that are eligible to be the subjects of futures contracts or other derivative contracts and could be traded in Indonesian futures exchanges.The regulations consist of Bappebti regulations No. 2/2019, No. 3/2019 and No. 5/2019.Through Bappebti Regulation No. 5/2019, the authority attempts to create more legal certainty and protection for crypto asset investors or customers. For example, it requires the crypto assets to meet the minimum specified criteria to be stipulated by the head of Bappebti and to be traded in the physical market, whose procedures are particularly regulated by Bappebt...