economy

Bappebti Is All Set To Strengthen The Crypto Asset Ecosystem By Confirming Two PFAKs

The Commodity Futures Trading Supervisory Agency (Bappebti) has officially approved two candidates for Physical Crypto Asset Traders (CPFAK) to become certified Physical Crypto Asset Traders (PFAK) as per the Head of Bappebti's Decree Numbers 01/BAPPEBTI/PFAK/08/2024 and 02/BAPPEBTI/PFAK/08/2024 dated August 1, 2024. Acting Head of Bappebti, Kasan, mentioned that promoting CPFAK to PFAK is a move to strengthen the crypto asset ecosystem, which is essential for protecting consumers. The two approved PFAKs are PT Pintu Kemana Saja (PINTU) and PT Bumi Santosa Cemerlang (Pluang).

"Bappebti is focused on enhancing the crypto asset ecosystem by encouraging CPFAK to transition to PFAK. Currently, we have recognized PINTU and Pluang as PFAKs. This approval is outlined in the Head of Bappebti's Decree Numbers 01/BAPPEBTI/PFAK/08/2024 and 02/BAPPEBTI/PFAK/08/2024 dated August 1, 2024. This will be crucial for strengthening consumer protection," Kasan explained in Jakarta today, Wednesday (August 7).

Kasan also pointed out that the process of CPFAK becoming PFAK reflects Bappebti's commitment and the crypto asset ecosystem to adhere to existing regulations. These regulations include Bappebti Regulation (Perba) Number 8 of 2021, amended by Perba Number 13 of 2022, which provides guidelines for the operation of physical crypto asset trading on the futures exchange. The aim of this regulation is to ensure the credibility and focus of businesses actively involved in crypto asset trading in Indonesia, emphasizing security, transaction integrity, and transparency.

"There are several requirements that CPFAK companies must meet to become PFAK. These include having ISO 27001 certification, and the systems used must be registered with the Ministry of Communication and Information Technology (Kominfo). Additionally, companies need to employ staff certified as Certified Information System Security Professionals (CISSP) and be registered as members of the exchange and clearing institutions," Kasan added.

Kasan mentioned that the requirements set for becoming a PFAK are part of the government's effort to provide an extra layer of security for crypto asset customers. He added that every transaction made through FPAK companies will be recorded on the exchange, making it more transparent. Additionally, there’s a clearing institution acting as a guarantor and a depository for storing crypto assets, which is expected to make people feel more comfortable and secure when trading. Meanwhile, Subani, the CEO of the Crypto Asset Exchange (CFX), expressed pride in the achievements of PINTU and Pluang, which have officially become PFAK. This is a testament to both companies' commitment to delivering top-notch service to their customers. "We hope that public trust will grow and the crypto asset industry will thrive with these two companies as PFAK. Currently, there are 13 other CPFAK companies that have received the Exchange Member Approval Letter (SPAB), which is a requirement for CPFAK to become PFAK. Hopefully, these 13 companies will soon achieve PFAK status," Subani expressed. According to Bappebti data, the value of crypto asset transactions has been on the rise from January to June 2024, reaching Rp301.75 trillion, with 20.24 million registered customers. In June 2024 alone, transactions hit Rp40.83 trillion, marking a 354.94 percent increase compared to the same period last year. Additionally, tax revenue from crypto assets for the January to June 2024 period reached Rp331.56 billion.

Tag: Bappebti CFX Crypto Kominfo PINTU