Economics and Business News

CoFTRA Freezes Operations of 2 Indonesian Crypto Exchanges

The Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade has revoked the registration certificates of two crypto exchanges in Indonesia. With this, the number of registered crypto-asset physical traders has now been reduced to 11 entities.

Quoted from CoFTRA's official website, it canceled the registration mark as a prospective physical trader of crypto assets on behalf of PT Bursa Crypto Prima and freezing of business activities on behalf of PT Plutonext Digital Asset.

In more detail, the reason for the suspension of business activities on behalf of PT Plutonext Digital Aset is because it has never submitted daily transaction reports, daily and monthly financial reports, and activity reports to CoFTRA. demands for all actions or violations that cause harm to other parties before freezing of business activities," CoFTRA wrote as quoted by FMM Tuesday (12/28/2021).

"The cancellation of this registration mark was carried out because PT Bursa Crypto Prima did not take corrective steps within 30 days from the business freeze," said CoFTRA. Previously, CoFTRA published 13 lists of prospective physical traders of crypto assets. The reduction of these two companies leaves physical traders of registered crypto assets left with 11 entities. Here's the list:

1. PT Indodax Nasional Indonesia (Indodax)

2. PT Crypto Indonesia Berkat (Tokocrypto)

3. PT Zipmex Exchange Indonesia (Zipmex)

4. PT Indonesia Digital Exchange (IDX)

5. PT Pintu Kemana (Door)

6. PT Luno Indonesia LTD (Luno)

7. PT Cipta Koin Digital (Koinku)

8. PT Tiga Inti Utama (Triv)

9. PT Upbit Exchange Indonesia (Upbit)

10. PT Accountku Dotcom Indonesia (Rekeningku.com)

11. PT Triniti Investama Berkat (Bitocto).

Take a peek at Crypto Performance in 2021, NFT Becomes the Prima Donna-Regulations are getting clearer

2021 is said to be a special year for the crypto world and the community in it. This is because of the many important and historic events that were engraved throughout 2021.

Bitcoin 4 times broke the record high price this year. In addition, the number of crypto asset investors in the country is also increasing. Check out the full review in the following 2021 crypto kaleidoscope.

Bitcoin Becomes the Best Asset in 2021 Although it is still in the price consolidation phase, Cointelegraph has named Bitcoin the best asset in 2021. At a time when the global economy was sluggish due to the pandemic, the price of 'The Crypto King' jumped up to 49%.

It is known, Bitcoin managed to set its ATH record four times throughout the 2021 period. In less than a month, Bitcoin managed to break the 2020 price record of US $ 40,000 (Rp. 570 million) on January 7, 2021. Then the price of Bitcoin touched a new ATH of US $ 60,000 (Rp. 870 million). ) more in early April. And managed to subvert the ATH record at US$63,000 (Rp 934 million) on April 12, 2021, due to institutional demand. At its peak, Bitcoin again scored an all-time high price in the range of US $ 68,789.63 (Rp 970 million) on November 8, 2021.

Crypto Investment is Increasingly Popular in Indonesia

The popularity of crypto assets in Indonesia is increasing. CoFTRA noted that the number of crypto investors almost reached 10 million in the fourth quarter of 2021. This figure is up 11 times compared to last year. In addition, the total crypto transactions have also penetrated IDR 478.5 trillion, or 5 times higher with an average of IDR 1.7 trillion per day.

The popularity of crypto assets in Indonesian cyberspace also shows almost the same sentiment. Twitter has just released its #HanyaDiTwitter 2021 summary featuring a list of the most talked-about accounts and hashtags in Indonesia. #crypto #nft also appears in the ranks of the most popular hashtags on Indonesian Twitter throughout 2021.

Read the article, "Peek at Crypto Performance in 2021, NFT Becomes the Primadona-Regulations are Getting Clearer" in full https://finance.detik.com/fintech/d-5873521/intip-performa-kripto-di-2021-nft-jadi- prima donna-regulation-more-clear.NFT Becomes the New Primadonna of Crypto

Non-Fungible Tokens or NFTs are predicted to be the new prima donna in the world of cryptocurrencies. It is estimated that the current total sales of NFT have reached more than US$9 billion (Rp 130 trillion) and will increase to US$ 17.7 billion (Rp 265 trillion) by the end of this year.

Not only abroad, NFT fever also hit Indonesia. Not long ago, 4 Indonesian children who were members of the SuperlativeSS (Superlative Secret Society) had several times become a trending topic in cyberspace. The reason is that the 11,110 NFT character series they created managed to enter page 1 of the oldest and largest NFT marketplace in the world, opensea.io.