CoFTRA finalizes investor protection rules

Jakarta, – Today’s crypto news reviews the rules for the Commodity and Futures Trading Regulatory Agency (CoFTRA) that will finalize the rules for investing in cryptocurrency.

CoFTRA believes that the move is one of the efforts being made to protect crypto-asset investors in the country. Currently, crypto assets are the most preferred investment in the world.

In Indonesia, the number of investors also continues to grow significantly from year to year. So more mature regulations are needed to support the crypto ecosystem. So what is the explanation, let’s take a look at today’s news review.

Finalizing Cryptocurrency Investment Rules to Protect Investors – Today’s Cryptocurrency News

The Commodity Futures Trading Regulatory Agency, or CoFTRA, notes that interest in buying and selling crypto assets has grown exponentially from year to year.

Acting President of BAPPEBTI Dedid Nordiat Moko said that in 2020, the transaction value of crypto assets reached 64.9 trillion rupees and increased to 859.4 trillion rupees in 2021.

Meanwhile, as of August 2022, the transaction value of crypto assets has reached IDR 249.3 trillion. According to him, although the value of crypto-asset transactions decreased in 2022 compared to the previous year, this does not indicate a decline in public interest.

“This crypto transaction has contributed to the taxation of both PPH and PPM,” Dedid said at the 2022 Jakarta Global Financial Summit organized by CNBC Indonesia With Maxco Futures, citing Thursday (9/22/2022).

Therefore, BAPPEBTI will establish regulations on the purchase and sale of crypto assets. Dedeed then revealed the accrual policy in investing.

Today's Crypto News

The average adult investor

After that, this is necessary because the majority of crypto-asset clients, or up to 84% of 16.1 million people, are people between the ages of 18-30.

So they still do not have maturity in terms of investment.

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We know that investing always comes with risk, and it cannot be avoided. High risk, high return. Of course, if we want a high return, we have a fairly high risk. “Of course we will take more policies or arrangements,” Dedid said.

These rules to ensure protection – Crypto News Today

In addition, Dedeed continued, CoFTRA will also ensure protections for consumers. For example, policies that lead to transparency so that the public understands that investing is risky and the public can identify it Trusted broker.

“We are going to do some kind of evaluation of this broker, of the relevant business actors on this matter, so that we are both comfortable and fair, where in the future this industry will develop better and on the other hand protecting the community will do well,” Dedid said.

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Finally, he says, it’s about prudence. In this case, CoFTRA requires brokers and market players to provide education and literacy to the public. So people get better financial literacy of course.

Yesterday, there were several problems, for example fraudulent investments, trading bots. We don’t want this to happen again. That is why we ask that the public be reminded always. So overall, our policy going forward is to encourage the development of the industry and protect the public.”

This is information on today’s cryptocurrency news which reviews the rules that will be finalized by the Commodity and Futures Trading Regulatory Agency (CoFTRA). We hope this information is useful to you.

Always use a trusted crypto exchange, don’t get fooled easily and avoid links that contain dangerous malware in order to avoid fraudulent attempts to invest.

Read also: Trusted, Number One Crypto Investment Platform With 5.5 Million Members

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Author: Contributor / Shuhada Banji A

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