Jerry Sambuaga: Ministry of Trade Supports Competitive Indonesian Crypto Assets

- 26 August 2022 15:05 WIB
 Illustration. Bitcoin and crypto Assets. (Photo/
Illustration. Bitcoin and crypto Assets. (Photo/

JAKARTADAILY.ID – Indonesian Deputy Minister of Trade Jerry Sambuaga said that he hopes more crypto assets from Indonesia will be present in the crypto asset market. That way, domestic crypto assets are increasingly competitive and attractive to the international market.

“The Ministry of Trade strongly supports domestic and foreign companies and business actors to enter the growing Indonesian crypto asset market. Moreover, considering that trading crypto assets are very beneficial for the development of the national economy," said Jerry at the Coinfest Asia event held in Bali on Thursday, August 25, 2022.

Jerry explained that the Commodity Futures Trading Supervisory Agency (CoFTRA) has issued CoFTRA Regulation (Perba) Number 11 of 2022 concerning the Establishment of a List of Crypto Assets Traded in the Physical Crypto Asset Market.

Also read: BSSN Launches 2021 Cyber Security Monitoring Results Annual Report

This regulation is an update and revokes Perba No. 7 of 2020. In Perba No. 7 of 2020, there are 229 types of crypto assets that can be traded. With the issuance of Perba No. 11 of 2022, the number has increased to 383 types.

“Of the 383 types, there are ten crypto assets originating from Indonesia. This is a very good first step and should be appreciated. Hopefully, in the future there will be more crypto assets from Indonesia that are included in it," said the Vice Minister of Trade.

Based on Gross Merchandise Value (GMV), the value of Indonesia's digital economy in 2021 is $70 billion and is in the first position among Southeast Asian countries.

Also read: Indonesian Cyber and Crypto Agency: 1.6 Billion Cyber Attacks Occurred in 2021

In 2021, the value of crypto asset trading transactions in Indonesia will be recorded at Rp 859.4 trillion. Meanwhile, in 2022, until July it was recorded at Rp 232.4 trillion.

This is an indication that the digital economy in Indonesia can be a catalyst for the development of the national economy. Of course, with due regard to the legal aspects that apply in Indonesia.



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Editor: Suksmajati Kumara


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