Bappebti Will Release Bitcoin Trading Rules

The Commodity Futures Trading Supervisory Agency (Bappebti) immediately released the trading rule of crypto bitcoin as commodity product.

So far based on the results of a study that has been done with the University of Indonesia (UI), it is possible and does not violate the Law on Futures Trading.

"It is conical that we can set the bitcoin after the Futures Law," said Head Bappebti Bachrul Chairi, to Kontan.co.id, Friday (4/27/2018).

Although currently the results of the review still need a little revision, but he is optimistic that in the near future Bappebti will soon release the rules related to trading bitcoin as a commodity. Bitcoin can be traded like a gold trade.

However, Bachrul asserted, bitcoin still can not be used as a means of payment.

According to him, crypto currency needs to be regulated to provide protection to consumers. When a consumer fraud happens to report it to a regulatory agency.

In terms of taxes, this arrangement will also make it more transparent. Most importantly, the supervision of bitcoin can prevent money laundering in the country.

"Moreover, the value of bitcoin transactions in Indonesia has reached Rp 1 trillion in a day," he said.

Although quite optimistic, Bachrul not be sure when bitcoin trading as a commodity will be launched. Bappebti also did not specify what kind of trading pattern.

According to Bachrul, currently, it still formulates in more detail some rules related to trade arrangement, bitcoin provider including its place of storage. ** (RR Princess Werdiningsih) **