Investment in crypto assets in Indonesia has grown very rapidly. In 2020, the number of crypto market investors reached 4 million, more than doubled to 11.2 million in 2021, and exceeded 15.57 million by the end of July 2022. This figure is far higher than the 9.3 million investors in Indonesia’s capital market as of July 2022, indicating strong interest in crypto transactions, particularly among retail investors.
Currently, attention is focused on the government’s plan to establish a crypto asset futures exchange. Under Bappebti Regulation No. 8 of 2021, the futures exchange will serve as a business entity overseeing physical crypto asset market transactions to ensure they are orderly, well-regulated, and transparent.
Physical crypto asset trading may subsequently be conducted only through electronic platforms owned by physical crypto asset traders, with the futures exchange supervising the market. The establishment of this exchange can still be improved, so this study aims to review Bappebti Regulation No. 8 of 2021 and recommend relevant substantive amendments to promote the development of the domestic crypto asset market.
Cryptocurrency investment in Indonesia has grown rapidly. In 2020, the number of crypto market investors reached 4 million, more than doubled to 11.2 million in 2021, and surpassed 15.57 million by the end of July 2022. This figure is significantly higher than Indonesia’s capital market investors, who totaled 9.3 million as of July 2022, highlighting strong interest from investors, particularly retail, in crypto transactions.
Currently, attention is focused on the government’s plan to establish a crypto futures exchange. Under the Commodity Futures Trading Regulatory Agency ( Bappebti ) Regulation No. 8 of 2021, the futures exchange will serve as a business entity responsible for overseeing the execution of physical crypto market transactions to ensure they are orderly, regulated, and transparent.
Physical crypto trading will only be conducted through electronic platforms owned by licensed physical crypto traders, with the futures exchange supervising the market. The establishment of this exchange still allows for improvements, and this study aims to review Bappebti Regulation No. 8 of 2021 and recommend substantive changes relevant to fostering the development of Indonesia’s domestic crypto market.
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