The players in the digital asset industry, namely cryptocurrency, view several articles in the proposed revision of the Financial Sector Development and Strengthening Act (UU P2SK) as potentially threatening the role of Digital Financial Asset Traders (PAKD) who have been operating independently.
Several new regulatory drafts that have garnered attention include Article 312A point C, which requires exchanges to conduct digital asset trading within two years after the law is enacted. Additionally, there is Article 215C point 9 regarding the provision that cryptocurrency exchanges must have or control a system for conducting digital financial asset trading, including cryptocurrencies and derivatives.
Triv CEO Gabriel Rey stated that if the new provisions are enacted, all trading activities would be under the control of exchanges, thereby undermining the role of PAKD, which has been operating independently. The impact could lead to layoffs threatening the industry and may cause local investors to flee to foreign cryptocurrency markets.
What is the impact of the new regulations on the cryptocurrency industry in Indonesia? For more details, listen to the dialogue between Savira Wardoyo and Triv CEO, Gabriel Rey on Profit, CNBC Indonesia (Tuesday, 02/12/2025)
