PR Newswire
01 Aug 2023, 16:41 GMT+10
JAKARTA, Indonesia, Aug. 1, 2023 /PRNewswire/ -- The Association congratulates the Commodity Futures Trading Supervisory Agency (Bappebti/CoFTRA) for establishing the Exchange, Clearing, and Depository Manager of crypto assets in Indonesia. It welcomes progressive steps from CoFTRA in accommodating developments of crypto asset technology in Indonesia. The inauguration of the crypto asset Exchange, Clearing, and Depository is evidence of the government's commitment to creating a conducive environment for developing the crypto asset industry.
Teguh Kurniawan Harmanda, as Chairman of the Asosiasi Pedagang Aset Kripto Indonesia (ASPAKRINDO), said the establishment and conferment of this permit was the opening gate for carrying out transactions by the mandate of CoFTRA Regulations and for registered Crypto Exchange, of course, would be an essential momentum to obtain the status of fully licensed Crypto Exchange. Manda also said business actors want reasonable, safe, reliable exchanges, clearing, and depositories. "As an example, namely the Depository, which has standard practices that have existed so far."
The inauguration of the Exchange, Clearing, and Depository Manager of crypto assets by CoFTRA is a positive step for CoFTRA. "We feel we can accelerate the growth of the domestic crypto asset industry in the future through monitoring and developing products and services in crypto asset transactions," said Asih Karnengsih, Chairwoman of the Asosiasi Blockchain Indonesia (A-B-I).
Asih added, "It is important for Exchanges, Clearing Houses, and Depository to consider imposing membership and transaction fees that can maintain the competitiveness of local business actors."
With the burden of tax fees that must be paid by Crypto Exchange (Corporate Income Tax) and taxes imposed on customers (VAT & Income Tax), it is hoped that the imposition of membership and crypto asset transactions fees at the following organ will not become an additional burden for Crypto Exchange or adding other costs, to customers, which can encourage a shift in interest in using foreign or unregistered crypto asset transaction platforms, which also results in capital outflows. Given Indonesia's enormous potential in the crypto asset industry to compete with other Southeast Asian countries, accelerated and intensive efforts from the government are needed to foster industrial growth.
The crypto asset industry in Indonesia is now entering a new chapter, which is full of optimism. One of the representatives of business actors, Yudhono Rawis, CEO of Tokocrypto, said, "The next step that that should be taken for Indonesia so that this industry continues to grow is the development of innovative crypto products and services that suit the needs and preferences of the Indonesian market."
Yudho also hopes that the crypto industry in Indonesia can be more mature in creating an ecosystem that is more integrated and competitive with global players.
To achieve a balance between technological innovation and consumer protection, ASPAKRINDO and A-B-I are committed to continuing to collaborate with the authorities and relevant stakeholders to build inclusive regulations that support the sustainable growth of the crypto asset industry in Indonesia.
Get a daily dose of Vietnam Tribune news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vietnam Tribune.
More InformationBATAM, Indonesia: Due to mounting geopolitical tensions and protests against China's activities in the South China Sea, ASEAN member nations ...
WASHINGTON DC, USA - The U.S. Department of State announced that it is taking steps to impose visa restrictions on ...
JAKARTA, Indonesia: An Indonesian court sentenced Lina Lutfiawati, also known as Lina Mukherjee, to two years in prison this week ...
NAYPYIDAW, Myanmar - Following recent investigations that have shaken the military and the country's business sector, Myanmar's junta chief, Gen ...
KATHMANDU, Nepal - On Thursday, hundreds of teachers from the Nepal Teachers' Federation, an elected body of teachers from across ...
DHAKA, Bangladesh - Md Shahriar Alam, State Minister for Foreign Affairs, has stated that the European Union's decision not to ...
BATAM, Indonesia: Due to mounting geopolitical tensions and protests against China's activities in the South China Sea, ASEAN member nations ...
FREMONT, California: This week, brain-chip startup Neuralink, owned by billionaire Tesla CEO Elon Musk, said an independent review board granted ...
BOSTON, Massachusetts: Officials said that a Delta flight from Chicago to Boston that was possibly struck by lightning landed safely ...
JAKARTA, Indonesia: An Indonesian court sentenced Lina Lutfiawati, also known as Lina Mukherjee, to two years in prison this week ...
HONG KONG: The Chinese Foreign Ministry has issued a request to all foreign consulates in Hong Kong, seeking the personal ...
MARTIN COUNTY, Florida: An Amazon driver making a delivery to a Florida home this week was bitten by a rattlesnake ...