Soon Bitcoin can be traded on the Indonesian stock exchange
Commodity Futures Trading Supervisory Agency (Bappebti) will soon release cryptocurrency (crypto) as a commodity subject that can be traded on the Futures Trading Exchange. This policy has been carefully studied by Bappebti through a number of considerations.
Head of Beppebti Market Supervision and Development Bureau, Dharma Yoga, explained that there are at least 2 more steps that must be fulfilled by the Crypto Exchange so that Bitcoin cs can be immediately traded on the Futures Exchange.
"There are at least 2 more processes that must be prepared until official crypto can be traded on the Exchange," said Dharma Yoga to the co-chair, Saturday (9/6).
Meanwhile, CoFTRA is also making rules regarding several things, such as storing customer funds. There is a suggestion that customer funds will be deposited by the Futures Clearing House or the customer deposit bank that is already in Bappebti not on an exchanger company. Exchanger company status is only a market place. This is done to prevent eliminating customer funds.
"Officially, it cannot be traded on the Exchange because it is still waiting for proposals from the Exchange for submitting the Bitcoin contract itself. In addition, we will prepare in advance the Technical Guidelines for Trading Procedures," he said.
In addition, there are several other things that will be regulated such as regarding taxation to the specifications of trade contracts. Meanwhile, although not yet officially traded on the Futures Exchange, cryptocurrency has officially become a tradable commodity subject.
"What has been stipulated by Bappebti is the Decree of the Head of Agency concerning the Determination of Crypto Digital Assets as a Commodity Subject that can be traded on the Futures Exchange," he explained.
Contacted separately, FXTM Research Analyst Lukman Otunuga said he was surprised that Bitcoin cs could later be traded on the Indonesia Futures Exchange. The reason is that there have been many rejections from the Ministry / Institution against trading or buying and selling cryptocurrency in Indonesia. He also welcomed Bappebti's decision and was optimistic that the cryptocurrency trade could improve Indonesia's economy.
"A decision signed to make cryptocurrency as a commodity that can be traded legally on the Futures Exchange can improve Indonesia's economy in digital currency space," he said.
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