.Author Yohana Artha Uly | Editor Erlangga Djumena
JAKARTA, KOMPAS.com - The Ministry of Trade (Kemendag) through the Commodity Futures Trading Supervisory Agency (Bappebti) issued Regulation of the Commodity Futures Trading Supervisory Agency (Perba) Number 7 concerning Determination of List of Crypto Assets that can be Traded on the Physical Market for Crypto Assets. The regulation was issued and came into effect on December 17, 2020. "With the issuance of the Bappebti regulation, it is hoped that the physical trading of crypto assets in Indonesia will be able to provide legal certainty as well as protection for people who transact physical crypto assets in Indonesia," said Head of Bappebti Sidharta Utama in his official statement. , as quoted Monday (11/1/2021).
The regulation contains provisions that govern technically the procedure including requirements for determining crypto assets. Then the mechanism for adding and subtracting types of crypto assets in the list of crypto assets that can be traded on the physical crypto asset market. Also to regulate the settlement mechanism to customers as a result of delisting crypto assets that are not registered in the said Perba. There are five things that are the subject of the arrangement. First, the basis for determining the types of existing crypto assets has two approaches, namely a juridical approach (looking at the 500 coin market cap / CMC rating) in accordance with the provisions of Article 3 paragraph (2) letter c Perba Number 5 of 2019. As well as the process hierarchy analysis assessment approach (AHP) Bappebti while paying attention to security aspects, profiles of the team and team members who develop it, blockchain system governance, blockchain system scalability, a roadmap that describes a blockchain system development plan whose achievement can be verified, and a standard value of 6.5.
Second, the mechanism for reviewing or evaluating the crypto asset list. Third, the procedure / mechanism for delisting crypto assets that are not listed in the list of crypto assets that can be traded on the physical crypto asset market. Fourth, settlement steps for customers whose crypto asset types are removed from the list of crypto assets that can be traded on the physical crypto asset market. Fifth, additional norms that must be carried out by physical crypto asset traders who trade crypto assets that are not included in the 500 CMC, but the AHP value is below or above 6.5."In this regulation, Bappebti stipulates 229 types of crypto assets that can be traded on the physical crypto asset market. Thus, it is mandatory to delist types of crypto assets outside of this amount, followed by certainty of settlement steps for customers, "explained Sidharta. He explained that the issuance of this regulation is also intended to prevent the use of crypto assets for illegal purposes, such as money laundering, terrorism financing, and the development of weapons of mass destruction. This is in accordance with the recommendations of the International Financial Action Task Force's standards to protect crypto asset customers and facilitate innovation and growth of crypto assets in Indonesia. According to Sidharta, until now, the physical market trading of crypto assets has continued to increase and its segmentation is getting wider. This is marked by the increase in the price of certain crypto asset coins in the physical market for crypto assets traded by prospective crypto asset traders. One of them is Bitcoin. Since the beginning of 2020, Bitcoin's price surge has strengthened by more than 220 percent. The price of 1 Btc can reach IDR 375 million to IDR 450 million.Earlier this year, bitcoin prices even reached Rp. 520 million. The price of Bitcoin is also estimated to have a tendency to continue to rise. "This indicates that the physical trade of crypto assets is starting to return to the interest of the Indonesian people," said Sidharta. The issuance of the Perba is a series and mandate of the provisions of Article 3 paragraph (3) of the Regulation of the Commodity Futures Trading Supervisory Agency Number 5 of 2019 concerning Technical Provisions for the Implementation of the Physical Market for Crypto Assets (Crypto Asset) on the Futures Exchange. This rule has been changed several times. The last amendment was made through the issuance of Commodity Futures Trading Supervisory Agency Regulation Number 3 of 2020 concerning the Third Amendment to the Regulation of the Commodity Futures Trading Supervisory Agency Number 5 of 2019 concerning Technical Provisions for the Implementation of the Physical Crypto Asset Market (Crypto Asset) on the Futures Exchange. This article has been published on Kompas.com with the title "Rules for Tradable Crypto Assets Published, Here Are 5 Main Points", Click to read: https://money.kompas.com/read/2021/01/11/074000026/ this-published-crypto-assets-issue-rules-5-hal. Author: Yohana Artha Uly Editor: Erlangga Djumena