– The issuance of Perba No. 11 of 2022 raises pros and cons for business actors, especially for several local token or coin projects previously listed on the Crypto Asset List that can be Traded on CoFTRA’s Physical Crypto Assets Market (Positive List) which were excluded from the list.
– No doubt the business actors asked again regarding the transparency of the token or coin valuation carried out by CoFTRA.
– As we all known, stated in Perba No. 8 of 2021 Article 4 Paragraphs (1) and (2) which discuss the function of the Crypto Assets Committee, namely to provide considerations and/or advice to CoFTRA in relation to the activities of fostering and developing physical market trading of crypto assets.
– Meanwhile, Perba No. 11 of 2022 in Article 2 explains that Prospective Crypto Asset Physical Traders or Crypto Asset Physical Traders can submit proposals for addition and/or reduction of Crypto Assets in the list of Crypto Assets traded in the Crypto Asset Physical Market which must be jointly reviewed by the Crypto Asset Futures Exchange and Crypto Assets Committee so that the evaluation task is carried out by the Crypto Asset Assessment Team.
– However, considering that the Crypto Asset Committee and Crypto Asset Assessment Team have not yet been formed, the assessment for the implementation of the review process for the proposed addition and reduction of Crypto Assets and the evaluation is carried out by CoFTRA together with the Association for crypto asset trading activities, and all business actors in the field of Crypto Assets Physical Market Trading that have been registered with CoFTRA.
– However, what is the fate of the assessment and determination of the Positive List now and in the future?
– Asih Karnengsih, as Chairwoman of the Indonesian Blockchain Association (A-B-I) hopes “To ensure that coins or tokens that will be traded in Indonesia get equal and fair opportunities in the valuation process, CoFTRA’s plan in Perba 11 is good, namely the formation of a Crypto Asset Assessment Team, so that the assessment process can be more transparent and objective because it involves a professional team from the non-profit Indonesian Blockchain Association and its administrators who are not affiliated with any company. The establishment of a Crypto Asset Assessment Team will soon be very helpful in maintaining the conduciveness of the crypto industry in Indonesia, especially since the issuance of the new Positive List”.
– CoFTRA Head of Legislation and Enforcement Bureau (Rorundak), Aldison explained that “CoFTRA is in the process of preparing a Decree from the Head of CoFTRA regarding the Crypto Asset Assessment Team whose task is to carry out one of the tasks of the Crypto Assets Committee, which is to conduct an assessment and evaluation of the Crypto Assets list , later on the Crypto Asset Assessment Team will consist of elements of CoFTRA, associations, and representatives of business actors who have registered with CoFTRA”.