The Commodity Futures Trading Regulatory Agency (Bappebti) through the decision of the Head of Commodity Futures Trading Regulatory Agency Number 02/BAPPEBTI/SP-LKBAK/12/23 has granted approval to PT Kliring Komoditi Indonesia (KKI) as the Guarantee and Settlement Agency for Physical Market Trading of Crypto Assets and PT Indonesia Coin Custodian (ICC) through the decision of the Head of Commodity Futures Trading Regulatory Agency Number 02/BAPPEBTI/SP-PTPAK/12/2023 has been approved as the Crypto Asset Storage Management Agency.
The Acting Head of Bappebti, Kasan, stated, “The establishment of KKI and ICC, is part of the government’s commitment to supporting the crypto asset trading ecosystem in Indonesia. It is expected that these two institutions will support the government in providing regulatory certainty, and enhancing protection for the public, both institutions have fully met the requirements and gone through the process according to the applicable regulations,”
The President Director of KKI, Rustam Sofyan Sirait, expressed, “We highly appreciate Bappebti for officially designating PT KKI as the Guarantee and Settlement Agency in the Physical Market Trading of Crypto Assets. KKI is ready to be part of the crypto asset ecosystem in Indonesia, especially in improving the efficiency of futures trading activities to mitigating transaction settlement risks,”
Rustam added, “Our core operations include providing support to the Exchange in terms of clearing and settlement of futures product transactions and crypto asset spot markets. Furthermore, we also promote better market transparency, maintain stability, and ensure transactions can be settled quickly and safely, thus fostering a more liquid crypto market condition,”
The President Director of ICC, Budi Mardino, stated, “The designation of ICC as the Crypto Asset Storage Management Agency further completes the ecosystem owned by the Nusantara Commodity Exchange (BKN). ICC operates as a crypto asset storage facility using world-standard security levels to ensure the security of crypto assets owned by investors,”
Bappebti has played an active role in supporting the crypto ecosystem in Indonesia by establishing three Self-Regulatory Organizations (SRO) consisting of Exchanges, Clearing Agencies, and Crypto Asset Storage Institutions. The Crypto Exchange itself, PT Bursa Komoditi Nusantara or Commodity Future Exchange (CFX), was established by Bappebti on July 17, 2023, through the Decision of the Head of Bappebti Number 01/BAPPEBTI/SP-BBAK/07/2023.
“We hope that the Prospective Physical Crypto Asset Traders (CPFAK) can synergize and collaborate with the related institutions as part of a joint effort to create a conducive crypto ecosystem that can provide security in investing in crypto assets domestically,” concluded the Acting Head of Bappebti, Kasan.
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About KKI
PT Kliring Komoditi Indonesia (KKI) received official authorization to operate as the Guarantee and Settlement Institution for Physical Market Trading of Crypto Assets in Indonesia, as per the Decision of the Head of Bappebti Number 02/BAPPEBTI/SP-LKBAK/12/23. By facilitating the crypto transaction ecosystem, KKI plays a crucial role in ensuring the fast, secure, and transparent settlement of crypto asset transactions through verification and oversight, as well as financial settlement recording.
