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Indonesia Regulator Forms Committee to Ensure Crypto Industry Compliance

Indonesia’s Commodity Futures Trading Regulatory Agency, also known as Bappebti, has created a committee to monitor the cryptocurrency sector. The agency established the country’s new Crypto Asset Committee under a decree promulgated in January.

Indonesia Committee to Enforce Crypto Compliance

Speaking on May 2 at an event in Jakarta, Bappebti head Kasan said the aim is to ensure industry compliance. Kasan said:

“This committee will be a driving force, ensuring that the crypto asset industry continues to operate smoothly and remains within the applicable legal framework. Therefore, optimizing the role of the Crypto Asset Committee should be a key focus in implementing the current crypto asset ecosystem.”

The Committee’s function will include conducting an assessment of crypto, analyzing related reports, and managing a central database. Managing the database would require adding and removing crypto assets from its list. The Crypto Asset Committee comprises representatives from several stakeholders, including Bappebti, crypto exchanges...