[Press Release] CFX Strengthens Commitment to Integrity, Growth, and Development of Indonesia’s Crypto Market

Press Release, July 16, 2024

CFX Strengthens Commitment to Integrity, Growth, and Development of
Indonesia’s Crypto Market

Jakarta, July 16, 2024 – PT Bursa Komoditi Nusantara (CFX), the only regulated crypto exchange in Indonesia, has revealed its strategic steps to drive the growth and development of the crypto asset market in Indonesia. Since officially commencing operations in 2023, CFX has been committed to ensuring a secure, innovative, and transparent crypto ecosystem.

CFX’s President Director, Subani, outlined the company’s ambitious vision and mission, including becoming the national leader in digital asset infrastructure and setting industry benchmarks. Additionally, CFX is dedicated to accelerating digital asset adoption, ensuring strict regulatory compliance to prevent misuse, and fostering innovation across the industry.

“We are proud to be part of developing a secure and transparent digital asset market in Indonesia. CFX is committed to facilitating a robust ecosystem that protects investors’ interests and promotes market integrity,” said Subani.

In accordance with Bappebti Regulation Number 13 of 2022, amending Bappebti Regulation Number 8 of 2021, Article 14, CFX reaffirms its obligations as a Self-Regulatory Organization (SRO) to adhere to stringent standards to ensure a safe and transparent trading environment for all involved parties.

Promoting Compliance and Security

CFX continuously encourages Prospective Physical Crypto Asset Traders (PPCAT) to join as exchange members and aims to strengthen the crypto ecosystem following the regulations stipulated in Bappebti Regulation Number 8 of 2021, Article 42, Paragraph 3. By joining CFX, PPCAT not only meets regulatory requirements but also demonstrates success in implementing high operational standards, including transaction and security aspects, as mandated within the CFX ecosystem.

“Currently, over 70% of crypto asset trading volume in Indonesia is under the strict supervision of CFX. There are 10 PPCATs who have received Exchange Membership Approval Letters, and those who have not yet joined are actively working to meet regulatory requirements to become exchange members,” Subani explained.

Kasan, Acting Head of Bappebti, stated that the physical crypto asset market is developing rapidly and dynamically. The need for an inclusive and integrated crypto ecosystem is becoming increasingly urgent to support sustainable growth. A strong ecosystem will enable industry players to operate more efficiently and securely while providing confidence to investors and consumers.

Furthermore, Kasan emphasized the importance of collaboration between the government, industry players, and other stakeholders in building a conducive ecosystem. “We continue to strive to create regulations that are adaptive and responsive to technological developments and market needs. This includes enhancing oversight and enforcement capabilities to ensure that all parties involved in crypto asset trading can operate safely and reliably,” he said.

Robby, Chairman of the Indonesian Crypto Asset Traders Association (ASPAKRINDO-ABI), welcomed CFX’s commitment to building a robust and innovative crypto industry in Indonesia. He hopes that CFX will continue to work with the association and all stakeholders to achieve common goals.

“We greatly appreciate the steps taken by CFX to strengthen the crypto ecosystem in Indonesia. Synergy between the exchange, the government, and the association is crucial to ensure that this industry can develop healthily and sustainably. We hope this collaboration can continue to be enhanced to create a safer and more reliable environment for all industry players and investors,” said Robby.

As interest in crypto assets continues to rise, CFX is also committed to educating market participants about the importance of security and compliance. Training programs and seminars organized by CFX aim to increase PPCAT’s understanding of applicable regulations and best practices in crypto asset trading. This is expected to create a safer and more orderly trading environment while enhancing the professionalism of physical crypto asset traders in Indonesia.

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About CFX Indonesia

CFX is a government-regulated crypto futures exchange focused on nurturing Indonesia’s digital asset market. With a mission to build secure infrastructure, ensure regulatory compliance, and foster innovation, CFX aims to lead the industry by creating a safe, innovative, and inclusive digital assets ecosystem.

CFX Indonesia

CFX Tower Jl. Gatot Subroto No.35-36, Lantai 8 RT.6/RW.3, Kuningan, Kuningan Tim., Kecamatan Setiabudi, Kota Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12950

Website : www.cfx.co.id

Further Information:
Public Relations
pr@cfx.co.id