The worldwide emergence of cryptocurrencies has not escaped the Indonesian government's attention and it has announced its intention to regulate cryptoasset transactions. As the relevant authority to supervise commodities in future transactions, the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI) has issued Regulation No. 8 of 2021 regarding Guidelines of Crypto-asset Transactions in Future Markets (Regulation 8/2021). We highlight several key points under the regulation which you should note.

Types of cryptoassets

Regulation 8/2021 provides that cryptoassets to be traded in Indonesia;

1. should be based on distributed ledger technology;
2. must be in a form of utility crypto or crypto-backed assets; and
3. have obtained assessment result from BAPPEBTI using the Analytical Hierarchy Process (AHP).

Trading of cryptoassets

Supervision and sanction