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COMMODITY FUTURES TRADING REGULATORY AGENCY REGULATION NUMBER 8 OF 2024 CONCERNING THE SECOND AMENDMENT TO COMMODITY FUTURES TRADING REGULATORY AGENCY REGULATION NUMBER 8 OF 2021 CONCERNING GUIDELINES FOR THE IMPLEMENTATION OF PHYSICAL MARKET TRADING OF CRYPTO ASSETS (CRYPTO ASSET) AT FUTURES EXCHANGES

BY THE GRACE OF THE MOST HIGH GOD, HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY REPUBLIC OF INDONESIA,

Considering: a. that in view of the growth and development of the Physical Market Trading of Crypto Assets in Indonesia, and to provide legal certainty and protection for the public in transacting Crypto Assets, including encouraging the formation of trusted and reliable institutions in the implementation of the physical market for crypto assets (crypto asset) at Futures Exchanges, it is necessary to adjust the regulations governing the guidelines for the implementation of physical market trading of Crypto Assets at Futures Exchanges; b. that based on the considerations as referred to in letter a, it is necessary to amend the Commodity Futures Trading Regulatory Agency Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading of Crypto Assets (Crypto Asset) at Futures Exchanges, as amended by the Commodity Futures Trading Regulatory Agency Regulation Number 13 of 2022 concerning Amendment to the Commodity Futures Trading Regulatory Agency Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading of Crypto Assets (Crypto Asset) at Futures Exchanges;

Recalling:

1. Law Number 32 of 1997 concerning Commodity Futures Trading (State Gazette of the Republic of Indonesia Year 1997 Number 93, Supplement to the State Gazette of the Republic of Indonesia Number 3720), as amended several times, lastly by Law Number 4 of 2023 concerning Development and Strengthening of the Financial Sector (State Gazette of the Republic of Indonesia Year 2023 Number 4, Supplement to the State Gazette of the Republic of Indonesia Number 6845);
2. Government Regulation Number 49 of 2014 concerning the Implementation of Commodity Futures Trading (State Gazette of the Republic of Indonesia Year 2014 Number 143, Supplement to the State Gazette of the Republic of Indonesia Number 5548);
3. Presidential Regulation Number 68 of 2019 concerning the Organization of State Ministries (State Gazette of the Republic of Indonesia Year 2019 Number 203), as amended by Presidential Regulation Number 32 of 2021 concerning Amendment to Presidential Regulation Number 68 of 2019 concerning the Organization of State Ministries (State Gazette of the Republic of Indonesia Year 2021 Number 106);
4. Presidential Regulation Number 11 of 2022 concerning the Ministry of Trade (State Gazette of the Republic of Indonesia Year 2022 Number 19);
5. Minister of Trade Regulation Number 99 of 2018 concerning General Policy on the Implementation of Crypto Asset (Crypto Asset) Futures Trading (State News of the Republic of Indonesia Year 2018 Number 1395);
6. Minister of Trade Regulation Number 29 of 2022 concerning the Organization and Work Structure of the Ministry of Trade (State News of the Republic of Indonesia Year 2022 Number 492);
7. Commodity Futures Trading Regulatory Agency Regulation Number 2 of 2019 concerning the Implementation of Commodity Physical Market at Futures Exchanges;
8. Commodity Futures Trading Regulatory Agency Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading of Crypto Assets (Crypto Asset) at Futures Exchanges;
9. Commodity Futures Trading Regulatory Agency Regulation Number 13 of 2022 concerning Amendment to the Commodity Futures Trading Regulatory Agency Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading of Crypto Assets (Crypto Asset) at Futures Exchanges;

DECIDES: Establishing: COMMODITY FUTURES TRADING REGULATORY AGENCY REGULATION CONCERNING THE SECOND AMENDMENT TO COMMODITY FUTURES TRADING REGULATORY AGENCY REGULATION NUMBER 8 OF 2021 CONCERNING GUIDELINES FOR THE IMPLEMENTATION OF PHYSICAL MARKET TRADING OF CRYPTO ASSETS (CRYPTO ASSET) AT FUTURES EXCHANGES.

Article I The provision in paragraph (2) of Article 42 in the Commodity Futures Trading Regulatory Agency Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading of Crypto Assets (Crypto Asset) at Futures Exchanges, as amended by the Commodity Futures Trading Regulatory Agency Regulation Number 13 of 2022 concerning Amendment to the Commodity Futures Trading Regulatory Agency Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading of Crypto Assets (Crypto Asset) at Futures Exchanges, is amended, so that it reads as follows:

Article 42 (1) Prospective Physical Crypto Asset Traders who have obtained a candidate trader registration certificate must submit an application for approval as a Physical Crypto Asset Trader to Bappebti no later than 1 (one) month since the Futures Exchange and Futures Clearing House receive approval from the Head of Bappebti. (2) Prospective Physical Crypto Asset Traders must meet the requirements and obtain approval as a Physical Crypto Asset Trader no later than October 16, 2024. (3) In the event that a Prospective Physical Crypto Asset Trader does not submit an application as referred to in paragraph (1) and does not obtain approval as a Physical Crypto Asset Trader by the deadline specified in paragraph (2), the candidate trader registration certificate is cancelled and becomes invalid. (4) In the event that the Futures Exchange and Futures Clearing House have received approval from the Head of Bappebti, the provision for submitting a registration application to Bappebti to obtain a certificate as a candidate Physical Crypto Asset Trader does not apply, and they must directly apply for approval as a Physical Crypto Asset Trader.

Article II This Regulation shall enter into force on the date of establishment.

Established in Jakarta on August 4, 2024 HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY REPUBLIC OF INDONESIA,

Signed, KASAN

A copy is consistent with the original COMMODITY FUTURES TRADING REGULATORY AGENCY, Head of the Regulatory Bureau