BAPPEBTI has issued a ministerial regulation under No. 5/2019 for the implementation of physical markets for crypto assets in futures exchanges. Reported by the Jakarta Post, the regulation focuses governance principles for crypto asset trading, legal certainty and consumer protection. It also has a requirement to establish a physical market for crypto assets through electronic infrastructure. In addition it regulates crypto assets that could be traded, which includes everything from the opening of accounts, fund saving, transactions and the withdrawal of crypto assets and funds.
However, there is a catch here. There is a minimal capital requirement for traders own in crypto assets. Under Article 24, a trader of crypto assets is required to transfer Rp 100 billion (approximately US$7.13 million) to their accounts. Rp 80 billion must be kept as a deposit.
BAPPEBTI is the Indonesian regulatory agency who is responsible for the regulation of the Indonesian financial markets, and, are under the supervision of the Ministry of Finance