Cryptocurrency is Officially Subject of Trade in Indonesia

cryptocurrency (crypto) as the subject of commodities that can be traded on futures trading exchanges. The policy was established through the Decision of the Head of Beppebti.

As reported by cash, the Head of Bappebti has signed a decision that makes cryptocurrency a commodity worth trading on the exchange.

Head of Market Supervision and Development Beppebti Dharma Yoga said the decision was taken after Bappebti conducted a study over the past four months. Based on the results of the study, according to Yoga, cryptocurrency deserves to be categorized or classified as a commodity.

After establishing cryptocurrency as the subject of commodities traded on futures exchanges, according to Yoga, Bappebti will make further regulation on the determination of cryptocurency as a commodity. Including exchangers, wallpapers cryptocurrency and mining. Regulations on this matter will involve various ministries and other institutions such as BI and OJK.

More importantly, the tax regulation will be regulated further, therefore the Director General of Taxation will also be involved. Business actors propose cryptocurrency trades subject to final taxes as well as trading on the stock exchange in the capital market.

This further regulation also provides for the prevention of money laundering and the financing of terrorism and other crimes through crypto. Therefore, PPATK and Densus88 Mabes Polri will be involved.

In addition, Bappebti will request an existing cryptocurrenyc exchanges such as Indodax or other crypto communities to create proposals that contain contract or product specifications and trade procedures or mechanisms.

Product specifications or contracts of any type include any type of crypto information that is traded and the price fraction or tick size. While the trade order includes trade hours and dispute settlement mechanism when there is a problem between the manager and the investor or the customer. "Now we submit to the exchange to prepare ourselves to prepare a concrete proposal," he said.

This proposal is submitted to the Head of Bappepti for consideration and stipulation when approved.

In further regulations that will be made Bappebti, will also be arranged about the deposit of customer funds. Yoga said, later funds of customers or investors are not kept by the company exchangers. However, by the Clearing Futures or the customer's deposit bank already in Bappebti. This is according to him to prevent loss of customer funds either because of the risk of embezzlement by the manager and because of the risk of hacking