Indonesia’s Regulator Establishes a Crypto Committee

Indonesia’s Commodity Futures Trading Authority (Bappebti) has formed a committee specifically for overseeing cryptocurrency operations and ensuring compliance.

Digital assets are classified as commodities in Indonesia and therefore fall under Bappebti’s purview. Head of Bappebti, Kasan, emphasized the importance of the committee’s role in effectively implementing regulations for the cryptocurrency industry.

The committee will be responsible for analyzing industry reports, maintaining a central database, assessing instrument risks, and making proposals for listing or delisting.

The committee will consist of representatives from Bappebti, government ministries, cryptocurrency exchanges, clearing institutions, associations, academics, and industry practitioners.