Crypto assets. Illustration. Photo: doc. Zipmex Indonesia
jpnn.comJAKARTA – The authority to supervise and regulate crypto assets will be transferred from the Commodity Futures Supervisory Agency (Bappebti) to the Financial Services Authority (OJK).
This is the mandate of Law Number 4 of 2023 concerning Development and Strengthening of the Financial Sector (P2SK).
The overall transition process will be carried out in a maximum of two years starting from January 12 2023, namely before January 12 2025.
However, the Government Regulation (PP) governing the transfer has not yet been issued. Therefore, DPR RI member Putri Komarudin urged the government and related institutions to issue the PP immediately.
“We urge the government and related regulators to immediately complete this derivative regulation, to provide legal certainty in carrying out the transfer of authority,” said Putri Komarudin.
This member of the DPR RI, who is a former member of the Working Committee (Panja) for the P2SK Bill, said that at the Working Meeting of Commission According to him, this was stated in the conclusion of the meeting.
Putri Komarudin appealed to the OJK to coordinate with Bappebti and other regulators, so that the transition process runs smoothly, and does not disrupt existing operational activities and business processes.
“OJK needs to ensure readiness in terms of institutions and regulations, licensing, supervisory infrastructure and technology, supervisory human resources, exchanges, guarantees, risk mitigation, data security, and consumer protection,” he said.
Indonesian DPR member Putri Komarudin urged the government and related institutions to immediately issue a PP on the Transfer of Authority to Supervise Crypto Assets.