Vice Minister of Trade Affirms Government Will Still Open Crypto Exchange – Deputy Minister of Trade Jerry Sambuaga emphasized the importance of the right attitude in crypto trading in Indonesia. According to Jerry, this is to provide business certainty and legal certainty for the protection of crypto investors and consumers in Indonesia.

For that, he said, the crypto exchange is a must to be realized immediately.

“The key words are certainty and security. Those are all the duties of the government. This means that any business sector must be facilitated by the government so that every perpetrator gets justice and protection in transactions,” said Jerry in his statement on Sunday (9/1/2022).

To achieve this, the government must realize a market system and good supervision of the crypto market.

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Currently, the Commodity Futures Trading Regulatory Agency or CoFTRA has recorded a number of crypto traders who have carried out their business activities. Currently, there are around 11. CoFTRA registered as prospective official traders. CoFTRA has also received several new registrants who wish to be listed as crypto traders.

In the future, the exchange is expected to be able to create a trading system that can protect and regulate crypto traders. Thus, crypto trading can be more structured and systematized, making it easier for recording, monitoring and harmonizing efforts with other sectors.

“One of them is related to tax matters. If it has been recorded it will be easy to calculate and collect taxes. This will also provide a sizeable income for the state so that it will support development in other sectors,” added the Vice Minister of Trade.

In addition to the tax sector, the state’s advantage with the opening of a crypto exchange is in terms of ensuring state security, whether related to money laundering, terrorism financing or related to Indonesia’s monetary and fiscal security.

Meanwhile, in terms of consumer protection, which is also part of the main task of the Ministry of Trade, Jerry hopes that cases of violations that harm consumers, such as those that have occurred abroad, can be prevented by the existence of an exchange.

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“Some time ago there were those who ran away customer funds of up to trillions abroad. There were more tokens that were not verified and so on. This will obviously harm consumers and people who transact crypto. We hope that this can be prevented and minimized from happening in Indonesia,” said Jerry.

Source: – Berita Terbaru Bisnis, Ekonomi, Investasi Indonesia by

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