The Commodity Futures Trading Supervisory Agency (Bappebti), recently issued an update regarding the list of legal crypto assets in Indonesia on June 9 2023. Initially, the list included 383 crypto assets recognized by Bappebti, but has now been expanded to 501 recognized assets. officially recognized by the institution.
The Head of CoFTRA, Didid Noordiatmoko, explained that with the issuance of CoFTRA Regulation Number 4 of 2023 concerning the List of Crypto Assets Traded on the Physical Crypto Asset Market, this step is expected to provide strong legal guarantees and better protection for people who want to get involved in asset trading. crypto.
"To meet the needs of crypto asset trading and provide legal certainty and protection for the public in transacting crypto assets on the physical crypto asset market, it is necessary to make adjustments to the list of crypto assets traded on the physical crypto asset market," said Didid.
The issuance of the latest Bappebti Regulation, which replaces the previous regulation issued in August 2022, has introduced a positive list approach in terms of crypto assets permitted to be traded in Indonesia.
The goal of this approach is to reduce the risks associated with trading crypto assets that do not have a clear whitepaper or have illegal purposes, such as money laundering. Thus, crypto assets such as Tornado Cash (TORN), Zcash (ZEC), and Monero (XMR) will probably not be allowed to be listed on Indonesian crypto exchange platforms.
PEPE Meme Coin and Artist Token Listed by Bappebti
Several new crypto assets have been added to the list issued by CoFTRA, such as Sui (SUI), PEPE (PEPE), TerraClassicUSD (USTC), Blur (BLUR), Arbitrum (ARB), AK12, Mira (MIRA), Digital ID tokens. Rupiah (IDDR), and others. Further information regarding the list of crypto assets can be found here.
Pepe Coin, one of the new cryptocurrencies included in the list, is attracting attention because it is a meme cryptocurrency that has recently gained great popularity thanks to its significant price increase in a short period of time.
On the other hand, only one artist token was successfully included in the list, namely the ASIX (ASX) token belonging to the famous singer Anang Hermansyah. Several other tokens have been delisted, including Prometeus, FTT, Terra Virtual Kollect, SuperFarm, Everipedia, Airbnb Tokenized Stock, Alibaba Tokenized Stock, and Clover Finance.
CoFTRA Believes Crypto Interest Will Increase Even Though Transactions Decrease
Even though there has been a significant increase, the growth in the number of investors in the crypto market tends to slow down. In April 2023, growth reached 7.52%, recording the highest figure in the past year.
However, the percentage of additional monthly investors continued to decline from October 2022 to April 2023, never even reaching above 1%.
The trend of decreasing crypto transaction value is also visible in Indonesia. In April 2023, the value of crypto transactions was recorded at IDR 10.77 trillion, a decrease of 14.15% from the previous month which reached IDR 12.54 trillion.
However, Didid remains optimistic about the development of crypto assets in 2023. He projects that although slowly, crypto assets will recover.
"In this case, although the transaction value has decreased, the number of customers has increased. This shows an extraordinary increase in interest in crypto assets," said Didid in an official statement issued on Friday (9/6).
