T Bursa Komoditi Nusantara (CFX), Indonesia’s only licensed cryptocurrency exchange, has revealed strategic steps to drive the growth and development of Indonesia’s crypto asset market. Since officially commencing operations in 2023, CFX is committed to ensuring a safe, innovative and transparent cryptocurrency ecosystem.
Subhani, President of CFX He outlined the company’s ambitious vision and mission, which includes becoming the national leader in digital asset infrastructure and setting the industry benchmark. Furthermore, CFX is committed to accelerating the adoption of digital assets, ensuring strict regulatory compliance to prevent misuse, and fostering innovation across the industry.
“We are proud to contribute to the development of a safe and transparent digital asset market in Indonesia. CFX is committed to building a strong ecosystem that protects investors’ interests and promotes market integrity,” Subani said.
In accordance with Bappebti Regulation No. 13/2022 (amending Article 14 of Bappebti Regulation No. 8/2021), CFX reaffirms its obligation as a Self-Regulatory Organization (SRO) to adhere to strict standards to ensure a safe and transparent trading environment for all parties involved.
Promoting compliance and security
CFX continuously encourages prospective physical crypto asset traders (PPCAT) to join as exchange members, aiming to strengthen the crypto ecosystem in accordance with the regulations set out in Article 42 paragraph 3 of Bappebti Regulation No. 8/2021. By joining CFX, PPCAT not only meets the regulatory requirements, but also demonstrates its success in implementing high operational standards, including trading and security aspects, as mandated within the CFX ecosystem.
“Currently, more than 70% of Indonesia’s cryptocurrency trading volume is under the strict supervision of CFX. There are 10 PPCATs that have received exchange member approval letters, and the PPCATs that have not yet joined are actively working to meet the regulatory requirements to become exchange members,” Subani explained.
Representative of Kassan and Bapeptisaid the physical crypto asset market is developing rapidly and dynamically. Kassan said the need for a comprehensive and integrated crypto ecosystem is becoming more urgent to support sustainable growth. A strong ecosystem will enable industry players to operate more efficiently and securely, inspiring confidence among investors and consumers.
Additionally, Kassan stressed the importance of governments, industry players, and other stakeholders working together to build a beneficial ecosystem. “We will continue to work on creating regulations that adapt and respond to technological developments and market needs. This includes strengthening our oversight and enforcement capabilities to ensure that all parties involved in cryptocurrency transactions can operate safely and securely,” he said.
Roby, Chairman of the Indonesian Cryptocurrency Exchange Association (ASPAKRINDO-ABI)He welcomed CFX’s efforts to build a strong and innovative cryptocurrency industry in Indonesia. He looks forward to CFX continuing to work with the association and all stakeholders to achieve our common goals.
“We greatly appreciate the steps taken by CFX to strengthen Indonesia’s cryptocurrency ecosystem. Synergy between exchanges, governments and associations is essential for the healthy and sustainable development of this industry. We hope that this cooperation will continue to strengthen, creating a safer and more trustworthy environment for all industry players and investors,” Robbie said.
As interest in crypto assets grows, CFX is also committed to educating market participants on the importance of security and compliance. CFX-sponsored training programs and seminars aim to deepen PPCAT’s understanding of applicable regulations and best practices in crypto asset trading. This will hopefully create a safer and more orderly trading environment while enhancing the professionalism of Indonesia’s physical crypto asset traders.
