The OJK Committee Has 45 Candidates, 2 Of Whom Are From The Cryptocurrency Industry, Jakarta The Selection Committee for the 2023-2028 DK OJK Committee Member Selection Committee has announced 45 names that have successfully passed the first round of selection. It is an administrative choice.

Citing the announcement of the 2023-2028 OJK Director Candidate Selection Committee, 2 out of 45 successful candidates are currently struggling in the Indonesian cryptocurrency industry.

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First, there is Teguh Kurniawan Harmanda, Chairman of the Indonesian Association of Asset Dealers (Aspakrindo) and Hendrikus Passagi, a member of the PT Cyrameta Exchange, a cryptocurrency exchange.

Teguh Kurniawan Harmanda, better known as Manda, is one of the well-known figures in the Indonesian crypto industry. Besides being the chairman of Aspakrindo, Manda is also the man behind cryptocurrency exchange Tokocrypto.

He is a business representative who frequently consults with the government to encourage regulation in Indonesia, especially with regard to digital assets. Manda currently works at Peruri as a Senior Digital Specialist.

Next up is Hendrikus Passagi, one of the Prospective Crypto Asset Traders (CPFAK) Commissioners registered with PT Cyrameta Exchange’s Commodity Futures Trading Supervision Agency (Bappebti). This position is set forth in the OJK Board of Director Candidate Selection Committee announcement.

In addition to being Commissioner of CPFAK in Indonesia, Hendrikus also serves as Commissioner of PT DFX (Digital Futures Exchange).

45 candidates, including two players from the crypto industry, will later compete for two spots. The first is serving as CEO and committee member overseeing financial institutions, venture capital firms, MFIs and other financial services institutions.

Second, the CEO oversees technological innovation in the financial sector, digital financial assets and crypto assets, and is also a member of the board of directors.

The promulgation of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (PPSK) transferred supervision of cryptocurrency assets from the Authority for Supervision of Commodity Futures Trading (Bappebti) to the Financial Services Authority (OJK). In this regard, how will crypto assets be regulated in Indonesia in the future?

Tirta Karma Senjaya, head of CoFTRA’s PBK development and development office, said that a closer look at the PPSK law makes it clear the obligation to transfer crypto assets from Bappebtik to OJK.

“Cryptocurrency assets will be fully mobile. In terms of regulatory provisions, OJK will adopt and add regulations later. We discussed this in the Government Regulation (PP) on the transition period from CoFTRA to OJK. ” Tirta explained in the Horizons talk. to show. In the cryptocurrency industry following the ratification of the P2SK Act, Thursday (June 4, 2023).

Tirta stated that CoFTRA and related parties are currently in the process of putting together a PP slated for a July 2023 release.

Tirta continued, “As of six months after the ratification of the PPSK Act, we are preparing a conversion-related PP, and we hope that the PP will be issued by July 2023.”

Along with regulation, Tirta provides an example that CoFTRA does not currently regulate how cryptocurrencies are introduced. With this transition, these rules can be regulated by OJK.

“We have not organized or overseen the introduction of any coin or coin offering or ICO (Initial Coin Offering) as this is not our area of ​​expertise. But at OJK we are used to overseeing IPOs so we can regulate these possibilities. “Terta explained.

During the transition period, according to Tirta, there will be no organizational voids. Make sure all transfers related to this transition go smoothly.

“Within two years of the transition, a task force will be formed between CoFTRA and the scope involved in the transition. If everything changes, CoFTRA will also continue to support it until it is 100% recovered,” Tirta said.

In terms of outlook, Tirta said Indonesia’s cryptocurrency market is still in a downturn. This may affect trading value and cryptocurrency trading volume in Indonesia.

“In 2021, almost all currencies will reach all-time highs. This will increase the value of Indonesian transactions, but in 2022, it will decrease because currency prices are also declining. The target for 2023 can be at least better than 2022. “Cannot match 2021” explained Tirta.

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Teguh Kurniawan Harmanda, president of the Indonesian Asset Dealers Association (Aspakrindo), said the Indonesian cryptocurrency industry had reached saturation as there was no choice for crypto products other than spot trading.

A person known as Manda said, “I wish that any regulator could limit innovation in the cryptocurrency industry.

Manda added not to let the cryptocurrency industry stumble and develop. Therefore, to attract investors, there must be diversity and innovation.

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