Implementation of Digital Financial Asset Trading Including Crypto Assets

To:
The Board of Directors of Digital Financial Asset Trading Organizers Including Crypto Assets, At your location.

COPY
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

In light of the implementation of Financial Services Authority Regulation Number 27 of 2024 concerning the Conduct of Digital Financial Asset Trading Including Crypto Assets (State Gazette of the Republic of Indonesia Year 2024 Number 38/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 106/OJK), it is necessary to further regulate implementation provisions regarding the procedures for notifying crypto asset trading, the procedures and mechanisms for submitting evaluation results of crypto assets in the list of crypto assets, assessments of fitness and propriety of key parties, re-assessments of key parties, the business plan of digital financial asset trading organizers, as well as the scope, procedures, and mechanisms for submitting periodic and incidental reports of digital financial asset trading organizers in this Financial Services Authority Circular Letter as follows:

I. GENERAL PROVISIONS
In this Financial Services Authority Circular Letter, the following terms are meant:

1. Digital Financial Asset is a financial asset stored or represented digitally, including Crypto Assets.

2. Crypto Asset is a digital representation of value that can be stored and transferred using technology that enables the use of distributed ledgers such as blockchain to verify transactions and ensure the security and validity of stored information, not guaranteed by central authorities such as central banks but issued by private parties, can be traded, stored, and moved or transferred electronically, and can be in the form of digital coins, tokens, or other asset representations including backed crypto-assets and unbacked crypto-assets.

3. Digital Financial Asset Exchange Including Crypto Asset Organizer, hereinafter referred to as Exchange, is a business entity that conducts and provides systems and/or facilities to facilitate Digital Financial Asset trading including Crypto Assets and/or provides trading reports of Digital Financial Assets.

4. Clearing, Guaranteeing, and Settlement Institution for Digital Financial Asset Trading Including Crypto Assets, hereinafter referred to as Clearing Institution, is a business entity that provides services for the settlement of Digital Financial Asset trading transactions and the guarantee of settlement of Digital Financial Asset trading transactions.

5. Digital Financial Asset Storage Facility Manager Including Crypto Asset, hereinafter referred to as Storage Facility Manager, is a business entity that has obtained a business license from the Financial Services Authority to manage Digital Financial Asset storage facilities for the purpose of storing, maintaining, supervising, and/or delivering Digital Financial Assets.

6. Digital Financial Asset Trader, hereinafter referred to as Trader, is a business entity that conducts Digital Financial Asset trading, either on its own behalf and/or facilitates Consumers.

7. Consumer is any person who owns and/or utilizes products and/or services provided by the Trader.

8. List of Crypto Assets is the list of Crypto Assets established by the Exchange for trading in the Digital Financial Asset Market.

9. Digital Financial Asset Trading Organizer is the Exchange, Clearing Institution, Storage Facility Manager, Trader, and other parties designated by the Financial Services Authority.

10. Key Party is a party that owns, manages, supervises, and/or has significant influence over the Digital Financial Asset Trading Organizer.

11. Board of Directors is the company organ authorized and fully responsible for the management of the company for the interests of the company, in accordance with the company's purpose and objectives, and represents the company, both inside and outside of court, in accordance with the articles of association for companies in the form of a limited liability company or equivalent to the Board of Directors for companies in the form of other legal entities.

12. Board of Commissioners is the company organ tasked with conducting general and/or specific supervision in accordance with the articles of association and providing advice to the Board of Directors.

13. Controlling Shareholder is a legal entity and/or individual who holds shares in the Digital Financial Asset Trading Organizer and has the ability to exercise control over the Digital Financial Asset Trading Organizer.

14. Public Accountant is a person who has obtained a license to provide services as referred to in laws regarding public accountants.

15. Financial Services Authority Reporting System is an information system used as a means for submitting reports online by financial sector technology innovation organizers to the Financial Services Authority.

16. Periodic Report is a report made and submitted by the Digital Financial Asset Trading Organizer to the Financial Services Authority at specific intervals.

17. Incidental Report is a report made and submitted by the Digital Financial Asset Trading Organizer to the Financial Services Authority at specific times.

https://jdih.ojk.go.id/

18. Business Plan is a written document describing the business activity plan of the Digital Financial Asset Trading Organizer for a period of 1 (one) year, including plans to improve business performance and strategies to realize such plans in accordance with established targets and timeframes, while still observing the principles of risk management and prudence.

II. PROCEDURES FOR NOTIFICATION OF CRYPTO ASSET TRADING

1. Traders who will trade specific Crypto Assets listed in the List of Crypto Assets must submit a report to the Financial Services Authority at the latest 7 (seven) working days before the date of starting to trade the said Crypto Assets.

2. The submission of the report as referred to in item 1 is carried out in accordance with the notification format for the commencement of Crypto Asset trading as contained in Appendix I Part A, which is an integral part of this Financial Services Authority Circular Letter and is signed by one of the Board of Directors members.

3. Traders who will stop trading specific Crypto Assets listed in the List of Crypto Assets must submit a report to the Financial Services Authority at the latest 10 (ten) working days before the date of stopping the trade of the said Crypto Assets.

4. The submission of the report as referred to in item 3 is carried out in accordance with the notification format for the cessation of Crypto Asset trading as contained in Appendix I Part B, which is an integral part of this Financial Services Authority Circular Letter and is signed by one of the Board of Directors members.

III. SUBMISSION OF EVALUATION RESULTS OF CRYPTO ASSETS IN THE LIST OF CRYPTO ASSETS

1. Exchanges must evaluate Crypto Assets in the List of Crypto Assets that have been established at least 1 (one) time in 3 (three) months and/or at any time.

2. The evaluation as referred to in item 1 is documented in a Crypto Asset evaluation results document.

3. The evaluation results must be reported to the Financial Services Authority at the latest 5 (five) working days since the evaluation was conducted as referred to in item 1.

4. The submission of Crypto Asset evaluation results as referred to in item 3 is carried out by attaching a cover letter for the crypto asset evaluation results in the format as contained in Appendix II, which is an integral part of this Financial Services Authority Circular Letter.

5. The Exchange designates a Board of Directors member responsible for the preparation and presentation of Crypto Asset evaluation results.

6. The Crypto Asset evaluation results are signed by the Board of Directors member responsible as referred to in item 5.

IV. ASSESSMENT OF FITNESS AND PROPRIETY

1. Key Parties of the Exchange, Clearing Institution, Storage Facility Manager, and Trader include:
   a. Controlling Shareholders; https://jdih.ojk.go.id/ b. Board of Directors members; and
   c. Board of Commissioners members.

2. Prospective Key Parties must obtain approval from the Financial Services Authority before carrying out actions, duties, and functions as Key Parties.

3. To provide approval as referred to in item 2, the Financial Services Authority conducts a fitness and propriety assessment of prospective Key Parties in Digital Financial Asset trading.

4. The fitness and propriety assessment is conducted to assess that prospective Key Parties as referred to in item 3 meet the requirements:
   a. integrity and financial viability for prospective Controlling Shareholders; and b. integrity, financial reputation, and competence for prospective Board of Directors and Board of Commissioners members.

5. The Financial Services Authority conducts the fitness and propriety assessment as referred to in item 3 in accordance with the fitness and propriety assessment guidelines for prospective Key Parties of Exchanges, Clearing Institutions, Traders, and Storage Facility Managers as contained in Appendix III, which is an integral part of this Financial Services Authority Circular Letter.

V. RE-ASSESSMENT OF KEY PARTIES

1. Re-assessment of key parties is conducted in the event of indications of involvement and/or responsibility for issues:
   a. integrity and/or financial viability or financial reputation for controlling shareholders; and b. integrity, financial reputation, and/or competence for Board of Directors and Board of Commissioners members.

2. The re-assessment as referred to in item 1 is conducted based on evidence, data, and/or information obtained from supervision results or other information.

3. The re-assessment as referred to in item 1 is conducted with the following steps:
   a. clarification of evidence, data, and/or information to the Key Party being re-assessed; b. determination and submission of preliminary re-assessment results to the Key Party being re-assessed;
   c. response from the Key Party being re-assessed regarding the preliminary re-assessment results; and
   d. determination and notification of final re-assessment results to the Key Party being re-assessed with the predicate:

   1. pass; or
   2. fail.

4. The Financial Services Authority may determine the final re-assessment results without following all re-assessment steps as referred to in item 3 with certain considerations.

5. The Financial Services Authority conducts re-assessment of key parties as referred to in item 1 in accordance with the re-assessment guidelines for Key Parties of Exchanges, Clearing Institutions, Traders, and Storage Facility Managers as contained in Appendix IV
   https://jdih.ojk.go.id/

which is an integral part of this Financial Services Authority Circular Letter.

VI. BUSINESS PLAN OF DIGITAL FINANCIAL ASSET TRADING ORGANIZERS

1. Digital Financial Asset Trading Organizers must submit the Business Plan to the Financial Services Authority at the latest on November 30 before the year the Business Plan begins.

2. In the event that the submission deadline for the Business Plan as referred to in item 1 falls on a holiday, the submission deadline for the Business Plan is on the next working day.

3. The submission of the Business Plan as referred to in item 1 is carried out in accordance with the Business Plan format as contained in Appendix V, which is an integral part of this Financial Services Authority Circular Letter.

4. Digital Financial Asset Trading Organizers designate a Board of Directors member responsible for the preparation and presentation of the Business Plan of the Digital Financial Asset Trading Organizer.

5. The Business Plan of the Digital Financial Asset Trading Organizer is signed by the Board of Directors member responsible as referred to in item 4.

6. Digital Financial Asset Trading Organizers must submit realization of the business plan quarterly to the Financial Services Authority.

7. The Business Plan realization report is submitted to the Financial Services Authority as part of the quarterly report.

VII. SUBMISSION OF REPORTS BY DIGITAL FINANCIAL ASSET TRADING ORGANIZERS

1. Digital Financial Asset Trading Organizers must submit:
   a. Periodic Reports; and b. Incidental Reports, regarding the conduct of digital financial asset trading to the Financial Services Authority.

2. Digital Financial Asset Trading Organizers must compile and present reports as referred to in item 1 completely and correctly.
   What is meant by:

   1. complete means containing all report elements and not omitting material information or facts; and
   2. correct means in accordance with the actual conditions at the Digital Financial Asset Trading Organizer and not containing incorrect information or facts.

3. Digital Financial Asset Trading Organizers designate a Board of Directors member responsible for the preparation and presentation of the Digital Financial Asset Trading Organizer reports as referred to in item 1.

4. The Digital Financial Asset Trading Organizer reports as referred to in item 1 are signed by the Board of Directors member responsible as referred to in item 3.
   https://jdih.ojk.go.id/

5. Periodic Reports
   a. Periodic Reports as referred to in item 1 letter a consist of:

   1. daily reports;
   2. monthly reports;
   3. quarterly reports; and
   4. annual reports.
      b. Submission Deadlines for Periodic Reports
   5. Daily reports as referred to in letter a item 1 are submitted to the Financial Services Authority at the latest at 14:00 WIB on the following day.
   6. Monthly reports as referred to in letter a item 2 are submitted to the Financial Services Authority at the latest 10 (ten) working days after the reporting period ends.
   7. Quarterly reports as referred to in letter a item 3 are submitted to the Financial Services Authority at the latest 15 (fifteen) working days after the reporting period ends.
   8. Annual reports as referred to in letter a item 4 are submitted to the Financial Services Authority at the latest on April 30 of the following year.
   9. If the final deadline for submitting daily and annual reports as referred to in items 1) and 4) falls on a holiday, the submission deadline is on the next working day.
      c. Daily Reports
   10. Exchange Daily Reports
       a) Exchanges submit daily reports as referred to in letter a item 1 in the form of:
       i. daily transaction recapitulation reports per Trader; and
       ii. daily transaction recapitulation reports per Digital Financial Asset.
       b) Submission of daily reports as referred to in letter a) is carried out in accordance with the Exchange daily report format as contained in Appendix VI Part A, which is an integral part of this Financial Services Authority Circular Letter.
   11. Clearing Institution Daily Reports
       a) Clearing Institutions submit daily reports as referred to in letter a item 1 in the form of daily consumer fund recapitulation reports for session 1 (one) and session 2 (two). b) Submission of daily reports as referred to in letter a) is carried out in accordance with the Clearing Institution daily report format as contained in Appendix VI Part B, which is an integral part of this Financial Services Authority Circular Letter. https://jdih.ojk.go.id/
   12. Storage Facility Manager Daily Reports
       a) Storage Facility Managers submit daily reports as referred to in letter a item 1 in the form of:
       i. daily Consumer Digital Financial Asset recapitulation reports for session 1 (one) and session 2 (two); and
       ii. detailed reports of Digital Financial Assets placed per Trader for session 1 (one) and session 2 (two).
       b) Submission of daily reports as referred to in letter a) is carried out in accordance with the Storage Facility Manager daily report format as contained in Appendix VI Part C, which is an integral part of this Financial Services Authority Circular Letter.
   13. Trader Daily Reports
       a) Traders submit daily reports as referred to in letter a item 1 in the form of:
       i. daily Consumer fund balance reports;
       ii. daily Consumer and Trader Digital Financial Asset balance and transaction reports;
       iii. daily Consumer and Trader Digital Financial Asset transaction reports; and
       iv. daily transaction recapitulation reports per Digital Financial Asset.
       b) Submission of daily reports as referred to in letter a) is carried out in accordance with the Trader daily report format as contained in Appendix VI Part D, which is an integral part of this Financial Services Authority Circular Letter. d. Monthly Reports
   14. Exchange Monthly Reports
       a) Exchanges submit monthly reports as referred to in letter a item 2 in the form of monthly transaction recapitulation reports per Digital Financial Asset and the Exchange Monthly Financial Report. b) Submission of monthly reports as referred to in letter a) is carried out in accordance with the Exchange monthly report format as contained in Appendix VII Part A, which is an integral part of this Financial Services Authority Circular Letter.
   15. Clearing Institution Monthly Reports.
       a) Clearing Institutions submit monthly reports as referred to in letter a item 2 in the form of consumer fund placement reports per Trader and the Clearing Institution Monthly Financial Report. b) Submission of monthly reports as referred to in letter a) is carried out in accordance with the Clearing Institution monthly report format as contained in Appendix VII Part B, which is an integral part of this Financial Services Authority Circular Letter. https://jdih.ojk.go.id/
   16. Storage Facility Manager Monthly Reports
       a) Storage Facility Managers submit monthly reports as referred to in letter a item 2 in the form of wallet management reports and the Storage Facility Manager Monthly Financial Report. b) Submission of monthly reports as referred to in letter a) is carried out in accordance with the Storage Facility Manager monthly report format as contained in Appendix VII Part C, which is an integral part of this Financial Services Authority Circular Letter.
   17. Trader Monthly Reports
       a) Traders submit monthly reports as referred to in letter a item 2 in the form of:
       i. monthly activity reports;
       ii. recapitulation of the 20 (twenty) largest Consumers based on daily transaction value;
       iii. recapitulation report of the 20 (twenty) largest Consumers based on fund top-up value;
       iv. recapitulation report of the 20 (twenty) largest Consumers based on fund withdrawal value; and
       v. Trader Monthly Financial Report.
       b) Submission of monthly reports as referred to in letter a) is carried out in accordance with the Trader monthly report format as contained in Appendix VII Part D, which is an integral part of this Financial Services Authority Circular Letter. e. Quarterly Reports
   18. Digital Financial Asset Trading Organizers submit quarterly reports as referred to in letter a item 3 in the form of:
       i. Business Plan realization reports as referred to in Roman numeral VI item 6; and
       ii. Independent risk management assessment reports.
   19. The independent risk management assessment report as referred to in item 1 letter ii is the implementation of the risk management function of the Digital Financial Asset Trading Organizer.
   20. The Digital Financial Asset Trading Organizer reports as referred to in item 1 letter are carried out in accordance with the format as contained in Appendix VIII, which is an integral part of this Financial Services Authority Circular Letter.
       f. Annual Reports
   21. Digital Financial Asset Trading Organizers submit annual reports as referred to in
       https://jdih.ojk.go.id/

letter a item 4 in the form of annual activity reports and annual financial reports.
2) Submission of annual activity reports and annual financial reports as referred to in item 1 is in accordance with the annual activity report format as contained in Appendix IX, which is an integral part of this Financial Services Authority Circular Letter.
3) Annual financial reports are prepared based on accounting standards applicable in Indonesia and audited by public accountants registered with the Financial Services Authority.
4) Accounting standards applicable in Indonesia as referred to in item 3 include statements and interpretations with standards issued by the Accounting Standards Board of the Indonesian Institute of Accountants.
5) Annual financial reports of Digital Financial Asset Trading Organizers must be published to the public.
6) Publication as referred to in item 5 is carried out by announcing in at least 2 (two) daily newspapers in the Indonesian language, one of which is nationally circulated, at the latest 30 (thirty) days since the date of the relevant Public Accountant's report.
7) In the event that the Public Accountant provides an opinion other than Unqualified (Wajar Tanpa Pengecualian) on the annual financial report, the Financial Services Authority may summon members of the Board of Directors of the Digital Financial Asset Trading Organizer and/or conduct examinations to obtain further information.

6. Incidental Reports
   a. Digital Financial Asset Trading Organizers consist of reports:
   1. name changes;
   2. address changes;
   3. opening branch offices or offices other than the head office;
   4. increase in paid-up capital;
   5. changes in ownership composition;
   6. appointment of Board of Directors and/or Board of Commissioners members who have obtained approval from the Financial Services Authority;
   7. unusual Digital Financial Asset transactions; and
   8. other reports requested by the Financial Services Authority.
      b. Incidental Reports as referred to in paragraph (1) must be submitted at the latest 5 (five) working days since the incident occurred.
      c. Submission of Incidental Reports as referred to in letter a) is carried out in accordance with the incidental report format as contained in Appendix X, which is an integral part of this Financial Services Authority Circular Letter.
      https://jdih.ojk.go.id/

VIII. MECHANISM AND PROCEDURES FOR SUBMISSION OF NOTIFICATIONS OF CRYPTO ASSET TRADING, RESULTS OF EVALUATION OF CRYPTO ASSETS IN THE CRYPTO ASSET LIST, BUSINESS PLAN OF DIGITAL FINANCIAL ASSET TRADING EXCHANGE, AS WELL AS PERIODIC AND INCIDENTAL REPORTS

1. Submission of notifications of crypto asset trading, results of evaluation of crypto assets in the crypto asset list, Business Plan of Digital Financial Asset Trading Exchange, as well as Periodic and Incidental Reports shall be conducted online through the Financial Services Authority Reporting System.

2. In the event that the Financial Services Authority Reporting System referred to in item 1 is not yet available or experiences technical difficulties, the Digital Financial Asset Trading Exchange shall submit notifications of crypto asset trading, results of evaluation of crypto assets in the crypto asset list, Business Plan of Digital Financial Asset Trading Exchange, as well as Periodic and Incidental Reports in the form of electronic documents via email to the following addresses:

a. mailingroomsumitro@ojk.go.id, in the event that the Financial Services Authority Reporting System is not yet available; b. mailingroommrp@ojk.go.id, in the event that the Financial Services Authority Reporting System experiences technical difficulties; or
c. other addresses designated by the Financial Services Authority.

3. Submission of notifications of crypto asset trading, results of evaluation of crypto assets in the crypto asset list, Business Plan of Digital Financial Asset Trading Exchange, as well as Periodic and Incidental Reports in the form of electronic documents via email as referred to in item 2 shall be addressed to:

a. Head of the Department of Supervision of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets, in the event that the Financial Services Authority Reporting System is not yet available; or b. Head of the Department of Data and Statistics Management with a copy to the Head of the Department of Supervision of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets, in the event that the Financial Services Authority Reporting System experiences technical difficulties.

4. In the event that the Financial Services Authority email referred to in item 2 experiences technical difficulties, the submission of notifications of crypto asset trading, results of evaluation of crypto assets in the crypto asset list, Business Plan of Digital Financial Asset Trading Exchange, as well as Periodic and Incidental Reports shall be submitted to the Financial Services Authority offline by:

a. being handed over directly; or b. being sent through a courier service company.

5. Submission of notifications of crypto asset trading, results of evaluation of crypto assets in the crypto asset list, Business Plan of Digital Financial Asset Trading Exchange, as well as Periodic and Incidental Reports offline as referred to in item 4 shall be addressed to:

a. Head of the Department of Supervision of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets Soemitro Djojohadikusumo Building East Banteng Field Street No. 2-4 Jakarta 10710, Indonesia, https://jdih.ojk.go.id/

in the event that the Financial Services Authority Reporting System is not yet available; or b. Head of the Department of Data and Statistics Management Radius Prawiro Tower Building, 14th Floor Bank Indonesia Office Complex MH. Thamrin Street No. 2, Central Jakarta, 10350, with a copy to:
Head of the Department of Supervision of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets Soemitro Djojohadikusumo Building East Banteng Field Street No. 2-4 Jakarta 10710, Indonesia,

in the event that the Financial Services Authority Reporting System experiences technical difficulties.

6. Digital Financial Asset Trading Exchanges that submit notifications of crypto asset trading, results of evaluation of crypto assets in the crypto asset list, Business Plan of Digital Financial Asset Trading Exchange, as well as Periodic and Incidental Reports through the Financial Services Authority Reporting System as referred to in item 1 must have a preparer officer who has a user ID and password.

7. To obtain the user ID and password as referred to in item 6, Board Members must submit the registration of preparer officers on the Financial Services Authority Reporting System.

8. Registration as referred to in item 7 must be accompanied by a letter of request for user ID and password for the Digital Financial Asset Trading Exchange's Financial Services Authority Reporting System according to the format contained in Appendix XI Part A via email to the address mailingroommrp@ojk.go.id.

9. In the event that the Digital Financial Asset Trading Exchange changes Board Members who are responsible and/or preparer officers, the Digital Financial Asset Trading Exchange must submit a Letter of Request for Change of Financial Services Authority Reporting System Access according to the format contained in Appendix XI Part B via email to the address mailingroommrp@ojk.go.id.

10. Digital Financial Asset Trading Exchanges are deemed to have submitted notifications of crypto asset trading, results of evaluation of crypto assets in the crypto asset list, Business Plan of Digital Financial Asset Trading Exchange, as well as Periodic and Incidental Reports with the provisions:

a. submission through the Financial Services Authority Reporting System is proven by an acceptance receipt from the Financial Services Authority Reporting System; b. submission via email is proven by a receipt from the Financial Services Authority email; or
c. offline submission is proven by a receipt from the Financial Services Authority.

https://jdih.ojk.go.id/

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi

IX. CLOSING
This Circular Letter of the Financial Services Authority shall take effect as of January 10, 2025.

Determined in Jakarta on December 19, 2024

EXECUTIVE HEAD OF SUPERVISION OF
FINANCIAL SECTOR TECHNOLOGY INNOVATION,
DIGITAL FINANCIAL ASSETS AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed https://jdih.ojk.go.id/

APPENDIX I
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

A. FORMAT OF NOTIFICATION OF THE START OF CRYPTO ASSET TRADING NOTIFICATION OF THE START OF CRYPTO ASSET TRADING In order to implement the mandate of Article 12 paragraph (1) of POJK Number ... concerning the Conduct of Digital Financial Asset Trading including Crypto Assets regarding the obligation of Traders to notify the Financial Services Authority of the start of Crypto Asset trading, we, the undersigned:

Trader Name :
Trader Code :
hereby notify that we will conduct trading of Crypto Assets with the following explanation:

Name of Crypto Asset to be Traded :
Date Trading Starts :
Considerations for Trading Crypto Assets :
Total Amount of Crypto Assets to be
Traded :

This is our notification and for your attention, we thank you.

Sincerely,
Board Member,
……………...............

…...............................
(Clear Name and Signature)

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi

B. FORMAT OF NOTIFICATION OF CESSATION OF CRYPTO ASSET TRADING NOTIFICATION OF CESSATION OF CRYPTO ASSET TRADING In order to implement the mandate of Article 12 paragraph (2) of POJK Number ... concerning the Conduct of Digital Financial Asset Trading including Crypto Assets regarding the obligation of Traders to notify in the event of ceasing Crypto Asset trading to the Financial Services Authority, we, the undersigned:

Trader Name :
Trader Code :
hereby notify that we will cease trading of Crypto Assets with the following explanation:

Name of Crypto Asset to be
Ceased Trading :
Date of Trading Cessation :
Reason for Trading Cessation :
Mitigation Plan :
Number of Consumers*) :
Number of Crypto Assets) :
Total Value of Crypto Assets (in Rupiah) :

This is our notification and for your attention, we thank you.

Sincerely,
Board Member,
……………...............

..................................
(Clear Name and Signature)
*) Filled with the number of Consumers owned as of the date of notification of cessation of Crypto Asset trading ) Filled with the number of Crypto Assets owned as of the date of notification of cessation of Crypto Asset trading

Determined in Jakarta on December 19, 2024

EXECUTIVE HEAD OF SUPERVISION OF
TECHNOLOGY INNOVATION IN THE
FINANCIAL SECTOR, DIGITAL FINANCIAL
ASSETS AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX II
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi

COVER LETTER FOR RESULTS OF CRYPTO ASSET EVALUATION Number : …………………………… ................ 20 ...
Attachments : ..………………………….
Subject : Results of Crypto Asset Evaluation

To

Yth.
Head of the Department of Supervision of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets

Referring to Financial Services Authority Regulation Number ..... Year 2024 concerning the Conduct of Digital Financial Asset Trading including Crypto Assets, we hereby submit the document containing the results of Crypto Asset evaluation along with supporting documents (if any).

We hereby declare that the documents submitted via electronic system or email are true and identical to the original documents. If it is later found that the data/information/documents we have submitted are incorrect and/or there is forgery, we are willing to be subject to sanctions in accordance with applicable laws and regulations.

This is our report. For your attention*), we thank you.

Sincerely,
Board Member
…………...............
Stamp Duty
Rp.10.000,-

..................................
(Clear Name and Signature)
*) cross out one

Determined in Jakarta on December 19, 2024

EXECUTIVE HEAD OF SUPERVISION OF
TECHNOLOGY INNOVATION IN THE
FINANCIAL SECTOR, DIGITAL FINANCIAL
ASSETS AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX III
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

GUIDELINES FOR ASSESSING COMPETENCY AND PROPRIETY TOWARDS PROSPECTIVE MAIN PARTIES OF EXCHANGES, CLEARING AND GUARANTEE INSTITUTIONS, SETTLEMENT INSTITUTIONS, TRADERS, AND CUSTODIANS

A. GENERAL PROVISIONS ON COMPETENCY AND PROPRIETY ASSESSMENT

1. Scope of Parties Subject to Competency and Propriety Assessment

a. Competency and propriety assessments are conducted by the Financial Services Authority against prospective Main Parties of Exchanges, Clearing and Guarantee Institutions, Settlement Institutions, Custodians, and Traders.

b. Prospective Main Parties as referred to in letter a include:

1. Controlling Shareholders, namely:

a) individuals and/or legal entities that will purchase, receive gifts, inherit, or undergo other forms of transfer of rights over shares of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders, thereby causing the relevant party to become a Controlling Shareholder; b) shareholders of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders who are not classified as Controlling Shareholders (non-Controlling Shareholders) who purchase, receive gifts, inherit, or undergo other forms of transfer of rights over shares of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders, thereby causing the relevant party to become a Controlling Shareholder; c) non-Controlling Shareholders who increase capital contributions, thereby causing the relevant party to become a Controlling Shareholder; d) individuals and/or legal entities that will become Controlling Shareholders in "Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders resulting from a merger" (merger); e) individuals and/or legal entities that will become Controlling Shareholders in "Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders resulting from a consolidation" (consolidation); and/or f) individuals and/or legal entities that will become Controlling Shareholders in Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders that will be established.

2. Prospective members of the Board of Directors or Board of Commissioners, namely:

a) individuals who have never served as members of the Board of Directors or Board of Commissioners, who are nominated to become members of the Board of Directors or Board of Commissioners; b) individuals who are currently serving as members of the Board of Directors or Board of Commissioners, who are nominated to become members of the Board of Directors or Board of Commissioners, either in the same financial services sector or in a different sector; c) individuals who have previously served as members of the Board of Directors or Board of Commissioners, who are nominated to become members of the Board of Directors or Board of Commissioners, at the same Exchange, Clearing and Guarantee Institution, Custodian, or Trader, or at other Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders, for example:
an individual who previously served as a Director and is nominated to become a Commissioner at the same Exchange, Clearing and Guarantee Institution, Custodian, or Trader, or at other Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders; d) members of the Board of Directors or Board of Commissioners, who will change positions within the same company, for example:
i. a Commissioner who will change positions to become a Director within the same company;
ii. a Director who will change positions to become a Commissioner within the same company; or
iii. a Director or Commissioner who will change positions to a higher position within the same company, for example:
i) a Director who will be appointed as the Chief Executive Director, or equivalent, within the same company; and/or ii) a Commissioner who will be appointed as the Chief Commissioner, or equivalent, within the same company; e) members of the Board of Directors or Board of Commissioners, who come from Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders that undergo a merger or consolidation, for example:
i. members of the Board of Directors or Board of Commissioners, who come from "Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders that undergo a merger";
ii. members of the Board of Directors or Board of Commissioners, at "Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders resulting from a merger" who come from "Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders that receive the merger", including extension of tenure; or
iii. members of the Board of Directors or Board of Commissioners, at "Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders resulting from a consolidation" who come from "Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders that undergo consolidation".

3. Controlling Shareholders as referred to in letter b item 1) are legal entities and/or individuals who own shares or equivalents of shares of Digital Financial Asset Trading Exchanges and have the ability to exercise control over Exchanges, Clearing and Guarantee Institutions, Custodians, and Traders.

c. Competency and propriety assessments are not conducted for the extension of tenure within the same Exchange, Clearing and Guarantee Institution, Custodian, or Trader for members of the Board of Directors or Board of Commissioners.

d. Extension of tenure as referred to in letter c is any reassignment to the same, equivalent, or lower position, for example:
i. the same position is an Information Technology Director who is reassigned to become an Information Technology Director within the same company;
ii. an equivalent position is a Finance Director who is appointed as a Risk Management Director within the same company; and
iii. a lower position is:
i) a Chief Executive Director who is appointed as a Director within the same company; or ii) a Chief Commissioner who is appointed as a Commissioner within the same company.

2. Requirements in Competency and Propriety Assessment

a. Integrity Requirements

1. Integrity requirement assessments are conducted to ensure the level of compliance and good faith of Main Parties in managing, supervising, and/or executing business processes so that Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders are able to fulfill their obligations to Consumers.

2. Assessment criteria for integrity requirements for Main Parties include:

a) having the legal capacity to perform legal acts; b) having good ethics and morals, at least demonstrated by an attitude of complying with applicable regulations, including never being sentenced for proven criminal offenses within a certain period prior to nomination, including:
i. criminal offenses in the financial services sector whose sentence has been completed within the last 20 (twenty) years prior to nomination;
ii. felony offenses, namely criminal offenses listed in the Criminal Code (KUHP) and/or similar to the KUHP abroad with a prison sentence threat of 1 (one) year or more whose sentence has been completed within the last 10 (ten) years prior to nomination; and/or
iii. other criminal offenses with a prison sentence threat of 1 (one) year or more, including but not limited to corruption, money laundering, narcotics/psychotropics, smuggling, customs, excise, human trafficking, illegal arms trafficking, terrorism, counterfeiting money, in the field of taxation, in the field of forestry, in the field of environment, and in the field of marine and fisheries, whose sentence has been completed within the last 20 (twenty) years prior to nomination.

The term "prior to nomination" as referred to in roman numeral i), roman numeral ii), and roman numeral iii) is calculated from the date the relevant party has completed serving their criminal sentence until the date of the letter of request from the Exchange, Clearing and Guarantee Institution, Trader, or Custodian to the Financial Services Authority; c) having a commitment to comply with laws and regulations and support the policies of the Financial Services Authority, among others demonstrated by:

1. never violating prudential principles in the financial services sector; and

2. never violating laws and regulations in the financial services sector;
   d) having a commitment to the healthy development of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders, among others demonstrated by:

3. submission of the prospective Controlling Shareholder's plan for the development of Digital Financial Asset Trading Conduct, which at least contains the direction and strategy for the development of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders, strategy in the event that the Exchange, Clearing and Guarantee Institution, Custodian, or Trader to be owned and/or controlled experiences financial difficulties, and capital plan for a period of at least 3 (three) years;

4. never violating commitments previously agreed upon with the supervising and overseeing agency of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders, namely acts of failing to fulfill some or all of the commitments agreed upon contained in meeting minutes, minutes of proceedings, or stated in the company's letter of commitment, including but not limited to not executing:
   a) recommendations from audit results reports; b) programs for the rehabilitation of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders; and c) settlement of obligations of Exchanges, Clearing and Guarantee Institutions, Custodians, or Traders to Consumers that have been agreed upon;

5. having a commitment not to commit and/or repeat acts and/or actions that cause the relevant party to be listed in the list of parties prohibited from being Main Parties, for prospects who have previously been listed in the list of parties prohibited from being Main Parties;

6. never committing acts that provide unfair benefits to shareholders, Main Parties, employees, and/or other parties that can harm or reduce Consumer rights;

7. never committing acts that are not within their authority or beyond their authority; and/or

8. never being declared unable to exercise their authority; and
   e) not being included as a party prohibited from becoming a prospective Main Party.

b. Financial Reputation Requirement Assessment

1. Assessment of financial reputation requirements is conducted to assess financial capability and assess the involvement of Board Members and Board of Commissioners who are not shareholders in the assessment criteria for financial reputation requirements.

2. Assessment criteria for financial reputation requirements for Main Parties as referred to in item 1 include:

a) not having non-performing loans and/or financing; and b) never being declared bankrupt and/or never having been a shareholder who is not a shareholder, member of the Board of Directors or

members of the Board of Commissioners who have been declared guilty of causing a company to be declared bankrupt within the last 5 (five) years before being nominated.

3. The definition of non-performing loans as referred to in item 2) does not include non-performing loans arising from annual fee charges for credit cards, credit card administrative fees, and/or other charges related to credit cards that do not originate from credit card usage transactions.

c. Financial Feasibility Requirements

1. The assessment of financial feasibility requirements is conducted to evaluate the financial capacity of the Controlling Shareholder, who is a shareholder in the financial reputation factor criteria.

2. The criteria for assessing financial feasibility requirements include:

a) having a financial reputation as referred to in letter b item 2);

b) having financial capacity that can support the business development of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader, namely:

i. the financial position of an individual Controlling Shareholder capable of supporting the company's business development, accompanied by a statement of financial capacity from the individual Controlling Shareholder, which may be supported by evidence; and

ii. the position of the latest audited annual financial reports for a corporate Controlling Shareholder, including: liquidity position, solvency position, investment placement position, return on assets position, and return on equity position; and

c) having a commitment to undertake necessary measures if the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader faces financial difficulties.

d. Competency Requirements

1. The assessment of the competency factor is conducted to evaluate the knowledge, ability, experience, and expertise possessed by members of the Board of Directors and members of the Board of Commissioners, to ensure they are adequate and relevant to their positions.

2. The criteria for assessing the competency factor for members of the Board of Directors and members of the Board of Commissioners include assessments of:

a) knowledge and ability in strategic management carried out to ensure that:

i. members of the Board of Directors and members of the Board of Commissioners have adequate and relevant knowledge for their positions, among others proven by:

i) knowledge regarding organizational structure, management, job descriptions, and responsibilities;

ii) potential ability to analyze business processes, lead organizations, and manage human resources to achieve organizational goals;

iii) basic supervisory knowledge including internal controls, specifically for members of the Board of Commissioners;

iv) basic knowledge related to leadership and conflict management, specifically for members of the Board of Commissioners; and/or

v) ability to evaluate company obligations or other technical aspects;

ii. members of the Board of Directors and members of the Board of Commissioners have an understanding of legislation, among others proven by:

i) understanding of legislation in the financial services sector, prioritizing legislation in the industry where the members of the Board of Directors and members of the Board of Commissioners will serve; and

ii) basic understanding of other relevant legislation, including understanding of legislation regarding limited liability companies, the Financial Services Authority (OJK), bankruptcy, and money laundering criminal offenses, and its implementing regulations;

iii. members of the Board of Directors and members of the Board of Commissioners have the ability to carry out strategic management for healthy business development, among others proven by:

i) for members of the Board of Directors, namely:
(1) formulating the company's vision and mission; (2) conducting situation analysis of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader; (3) conducting analysis of the internal development conditions of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader; (4) setting targets to be achieved regarding the position held; and (5) designing short-term, medium-term, and long-term strategies to achieve company goals, including the ability to anticipate future developments, such as the ability to prepare annual business plans and medium-term and long-term corporate plans using realistic and measurable assumptions;

ii) for members of the Board of Commissioners, namely:
(1) conducting basic situation analysis of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader; (2) conducting analysis of the internal development conditions of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader, including the company's financial health condition, human resources, and technology; and (3) conducting analysis of the Board of Directors' policies;

b) experience in the field of Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader and/or other fields relevant to their position, among others proven by:

(1) experience in relevant financial services institutions; and/or (2) experience in positions relevant to the plan for the person to be appointed or employed; and

c) expertise in the field of Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader Digital Financial Assets and/or other fields relevant to their position at the Digital Financial Asset Trading Organizer.

B. APPLICATION PROCEDURES AND ADMINISTRATIVE REQUIREMENTS

1. Application Procedure

a. Applications for approval to become a Key Party are submitted by:

1. prospective owners, founders, or members of the Board of Directors of the Digital Financial Asset Trading Organizer in the case of business license applications for Exchanges, Clearing, Guarantee and Settlement Institutions, Custodians, or Traders; and

2. members of the Board of Directors of the Digital Financial Asset Trading Organizer, in the case where the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader has obtained a business license.

b. In the event that members of the Board of Directors of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader as referred to in letter a cannot perform their functions or have conflicts of interest with the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader, the application is submitted by:

1. other members of the Board of Directors who do not have conflicts of interest with the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader;

2. members of the Board of Commissioners if all members of the Board of Directors cannot perform their functions or have conflicts of interest with the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader; or

3. other parties appointed by the General Meeting of Shareholders if all members of the Board of Directors or members of the Board of Commissioners cannot perform their functions or have conflicts of interest with the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader.

c. Applications for approval to become a Key Party as referred to in letters a and b are submitted to the Financial Services Authority (OJK) using the format in Section F item 1.

d. Submission of the letter of application for approval to become a Key Party as referred to in letter c must be accompanied by administrative requirement documents.

e. The Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must fill out the administrative requirement fulfillment list using the format in Section F item 2.

f. The Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must first conduct a self-assessment of the members of the Board of Directors, executive officers, and members of the Board of Commissioners before submission to the Financial Services Authority (OJK) using the format in Section F item 3.

g. The self-assessment as referred to in letter f is conducted by the party having the compliance and internal audit function at each Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader.

h. In the event that the Financial Services Authority's (OJK) data communication network system related to licensing is available, the submission of the letter of application for approval to become a Key Party and/or administrative requirement documents as referred to in letter d is submitted to the Financial Services Authority (OJK) online.

i. In the event that the Financial Services Authority's (OJK) data communication network system is not available or technical disturbances occur during the submission of the application for approval to become a Key Party and/or administrative requirement documents, the application and/or administrative requirement documents are submitted to the Financial Services Authority (OJK) offline.

j. Submission of the application for approval to become a Key Party and/or administrative requirement documents offline as referred to in letter i must be submitted in hardcopy and softcopy form on a compact disc (CD) or other electronic data storage media.

k. If technical disturbances as referred to in letter i are experienced by the Financial Services Authority (OJK), the Financial Services Authority (OJK) announces this via the OJK website on the same day the technical disturbance occurs.

l. The submission of applications for approval to become a Key Party for prospective Key Parties submitted by the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must state the number of Key Parties according to the targeted position.

2. Administrative Requirement Documents

a. Completeness of administrative requirement documents as referred to in item 1 letter d for parties nominated as Key Parties who are individuals and are shareholders, namely:

1. a completed form using the format in Section F item 2 letter a, attached with:

a) photocopies of identity documents such as an Indonesian Identity Card (KTP) or valid passport;

b) Taxpayer Identification Number (NPWP) for Indonesian citizens or equivalent valid documents for foreign citizens; and

c) 2 (two) recent color passport photos with size 4x6 cm;

2. a statement letter that has been filled out completely, affixed with sufficient stamp duty, and signed by the nominated party using the format in Section F item 5, containing a statement of meeting integrity aspects, financial feasibility aspects, and not undergoing a competency and propriety assessment process at another financial services institution.

b. Completeness of administrative requirement documents for parties nominated as Controlling Shareholders in the form of a legal entity and are shareholders, namely:

1. a completed form using the format in Section F item 4 letter b, containing legal entity data, attached with:

a) photocopies of establishment documents such as the deed of establishment of the legal entity, including the latest amended articles of association approved by the competent authority or equivalent documents for foreign business entities according to regulations in the country of origin; and

b) Taxpayer Identification Number (NPWP) for Indonesian legal entities or equivalent valid documents for foreign legal entities;

2. the latest audited annual financial report;

3. a completed curriculum vitae of members of the Board of Directors and members of the Board of Commissioners using the format in Section F item 6, attached with:

a) personal data:

i. photocopies of identity documents such as an Indonesian Identity Card (KTP) or valid passport;

ii. Taxpayer Identification Number (NPWP) for Indonesian citizens or equivalent valid documents for foreign citizens; and

iii. 2 (two) recent color passport photos with size 4x6;

b) skills mastered and foreign language proficiency; and

4. a statement letter from the legal entity represented by the Board of Directors that has been filled out completely and affixed with sufficient stamp duty using the format in Section F item 5, containing a statement of meeting integrity aspects, financial feasibility aspects, and not undergoing a competency and propriety assessment process at another financial services institution.

c. Completeness of administrative requirement documents as referred to in letter A item 4 for parties nominated as members of the Board of Directors and members of the Board of Commissioners, namely:

1. a completed curriculum vitae using the format in Section F item 6, attached with:

a) personal data:

i. photocopies of identity documents such as an Indonesian Identity Card (KTP) or valid passport;

ii. Taxpayer Identification Number (NPWP) for Indonesian citizens or equivalent valid documents for foreign citizens; and

iii. 2 (two) recent color passport photos with size 4x6 cm;

b) formal education history documents:

i. photocopy of the latest diploma; and

ii. photocopy of expertise certificates (if any);

c) training and seminar documents previously attended (if any):

i. photocopy of graduation certificates or attendance certificates for previously attended training; and

ii. photocopy of attendance certificates for previously attended seminars;

d) work history documents:

i. employment experience certificates; and

ii. recommendation letters and/or letters of intent to resign from the previous Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader;

e) awards relevant to the financial industry previously achieved (if any); and

f) skills mastered and foreign language proficiency;

2. a statement letter that has been filled out completely, affixed with sufficient stamp duty, and signed by the nominated party as a member of the Board of Directors or member of the Board of Commissioners using the format in Section F item 5, containing a statement of meeting integrity aspects, financial reputation aspects, and not undergoing a competency and propriety assessment process at another financial services institution; and

3. a writing regarding plans to be carried out after appointment in the targeted position, including:

a) vision and mission;

b) programs to be carried out during the term of office; and

c) targets to be achieved during the term of office.

3. Administrative Requirement Fulfillment List

a. Before the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader submits administrative requirement documents to the OJK in the nomination application, the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must first fill out the administrative requirement fulfillment list as referred to in item 1 letter e.

b. The Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must submit the results of the administrative requirement fulfillment list as referred to in letter a to the OJK, signed by:

1. prospective owners, founders, or officials of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader who are authorized in the case of establishment license applications for the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader; or

2. authorized officials of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader in the case where the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader has obtained a business license.

c. Submission of the results of the administrative requirement fulfillment list as referred to in letter b is accompanied by an explanation stating that the submitted administrative requirement documents:

1. are complete and correct in terms of quantity, format, and substance; and

2. state that the administrative requirement documents in the form of "statements" and "forms" are true and have been filled out and signed by the nominated candidates.

d. The administrative requirement fulfillment list as referred to in letter b is submitted together with the submission of the administrative requirement documents of the nominated candidates.

4. Self-Assessment

a. Self-assessment of members of the Board of Directors and members of the Board of Commissioners, as referred to in the self-assessment format for members of the Board of Directors/members of the Board of Commissioners as stated in Section F item 3, is conducted by the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader before submission to the relevant Financial Services Authority (OJK), concerning:

1. assessment of the fulfillment of integrity, financial reputation, and competency requirements for prospective members of the Board of Directors, executive officers, and members of the Board of Commissioners to be submitted. The assessment must at least cover the assessment of track records including sanctions previously given by the Digital Financial Asset Trading Organizer, educational background both formal and informal, and achievements achieved in the performance of duties, the candidate's ability to hold the position to be held, concurrent positions, and ownership of non-performing loans and/or financing; and

2. fulfillment of requirements in accordance with legislation.

b. The results of the self-assessment as referred to in letter a are submitted to the Financial Services Authority (OJK) at the time of the application submission.

5. Submission Address

a. The letter of application for approval to become a Key Party along with administrative requirement documents as referred to in item 1 letters c and d, and the results of the self-assessment as referred to in item 4 letter b are submitted completely to the Financial Services Authority (OJK).

b. Submission of the letter of application for approval to become a Key Party along with administrative requirement documents, and the results of the self-assessment as referred to in letter a is addressed to the following address:

Head of the Executive Supervisor for Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets of the Financial Services Authority

Attention: Head of the Department for Financial Sector Technology Innovation Regulation and Licensing, Digital Financial Assets and Crypto Assets

Soemitro Djojohadikusumo Building

Jalan Lapangan Banteng Timur 2-4

Jakarta 10710, Indonesia

c. In the event of a change in the OJK office address for the submission of the letter of application for approval to become a Key Party along with administrative requirement documents, and the results of the self-assessment as referred to in letter b, the OJK will convey notification regarding the address change via letter or announcement.

C. PROCEDURES FOR IMPLEMENTING COMPETENCY AND PROPIETY ASSESSMENT

1. The procedures for competency and propriety assessment as regulated in Article 60 of POJK on the Organization of Digital Financial Asset Trading including Crypto Assets are conducted through administrative assessment.

2. Administrative assessment is carried out to evaluate the application of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader for approval of prospective Key Parties to have met the requirements of integrity, financial reputation or financial feasibility, and/or competency.

3. The Financial Services Authority (OJK) may request information and/or recommendation letters regarding prospective Key Parties from other competent parties in the implementation of administrative assessment.

4. In the event that the administrative requirement documents submitted by the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader as referred to in Section B item 2 are incomplete, the Financial Services Authority (OJK) requests the Digital Financial Asset Trading Organizer to complete the administrative requirement documents.

5. The Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must complete the administrative requirement documents requested by the Financial Services Authority (OJK) as referred to in letter d within a maximum of 20 (twenty) working days from the date of the request from the Financial Services Authority (OJK).

6. In the event that the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader does not complete the administrative requirement documents within the time frame as referred to in item 5, the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader is deemed to have cancelled the application for approval of prospective Key Parties.

7. The Financial Services Authority (OJK) issues a rejection letter for the application for approval of prospective Key Parties if the administrative requirement documents submitted by the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader are declared untrue.

8. In the implementation of administrative assessment as referred to in item 1, prospective Controlling Shareholders must conduct a presentation or exposition at least regarding:

a. the prospective Controlling Shareholder's plans for the development of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader to be owned for at least 3 (three) years from ownership; and

b. the prospective Controlling Shareholder's strategy in the event that the owned Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader experiences financial difficulties.

9. In the event that the prospective Controlling Shareholder is a legal entity, the presentation or exposition as referred to in item 8 may be conducted by the Board of Directors of that legal entity or the Board of Directors of another legal entity in its business group or the ultimate shareholders of that legal entity.

10. In the event that the Board of Directors of another legal entity in its business group or the ultimate shareholders of that legal entity as referred to in item 9 are unable to attend, the prospective Controlling Shareholder may be represented by another official one (1) level below the Board of Directors based on a power of attorney appointment.

11. Based on the results of the administrative assessment as referred to in item 1 as well as information and/or recommendation letters over

candidates from other authorized parties as referred to in item 3, the Financial Services Authority conducts clarification with the candidate members of the Board of Directors and members of the Board of Commissioners if:
a. the candidate member of the Board of Directors or member of the Board of Commissioners has negative data or information obtained by the Financial Services Authority; b. the candidate member of the Board of Directors or member of the Board of Commissioners does not yet have relevant experience at the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader, considering the position, as well as the size and complexity of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader where the candidate will be nominated; and/or
c. the candidate member of the Board of Directors or member of the Board of Commissioners was previously not approved due to not meeting competency requirements in the last suitability and competency assessment prior to nomination.

12. The number of candidate members of the Board of Directors and/or candidate members of the Board of Commissioners that can be submitted in the application is at most 2 (two) persons for each vacancy, and the determination of candidates submitted must comply with applicable legislation.

13. The Financial Services Authority notifies the schedule for the implementation of activities:
    a. presentation or exposition by the candidate Controlling Shareholder as referred to in item 8; and b. clarification to the candidate members of the Board of Directors and members of the Board of Commissioners as referred to in item 11, no later than 10 (ten) working days after the application to obtain approval for the candidate Key Party as referred to in Part B item 1 letter c and the administrative requirement documents as referred to in Part B item 2 are received completely by the Financial Services Authority.

14. In the event that the candidate Key Party cannot attend the schedule determined by the Financial Services Authority as referred to in item 13, the candidate Key Party must submit a written notification accompanied by reasons for absence to the Financial Services Authority no later than 1 (one) working day before the implementation of the activity.

15. Based on the written notification as referred to in item 14, the Financial Services Authority may provide 1 (one) opportunity for schedule adjustment communicated to the candidate Key Party.

16. In the event based on the written notification in letter k:
    a. the Financial Services Authority does not provide an opportunity for schedule adjustment to the candidate Key Party; or b. the candidate Key Party does not attend the implementation of the activity as referred to in item 13 according to the new schedule without notification, the Financial Services Authority cancels the application to obtain approval for the Key Party.

17. The Financial Services Authority communicates the cancellation of the application for approval of the candidate Key Party if:
    a. the candidate Key Party does not submit a written notification of absence as referred to in item 14 to the Financial Services Authority; or b. the reason for absence submitted by the candidate Key Party as referred to in item 14 is not accepted.

18. The candidate Key Party whose application for approval is cancelled by the Financial Services Authority as referred to in item 17 will be determined as not approved to become a candidate Key Party for the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader by the Financial Services Authority.

D. CESSATION OF SUITABILITY AND COMPETENCY ASSESSMENT

1. The Financial Services Authority ceases the suitability and competency assessment of the candidate Key Party if at the time of the assessment the candidate:
   a. is undergoing legal process; b. is undergoing suitability and competency assessment at a financial services institution, ITSK provider, or other Digital Financial Asset Provider; and/or
   c. is in the process of re-assessment due to indications of integrity issues, financial viability/reputation, and/or competence.

2. What is meant by undergoing legal process is if the candidate Key Party has the status of suspect or defendant in a criminal case or is undergoing judicial process related to bankruptcy.

3. What is meant by undergoing suitability and competency assessment at a financial services institution, ITSK provider, or other Digital Financial Asset Provider is if the candidate Key Party is being nominated as a candidate Key Party at a financial services institution, ITSK provider, or other Digital Financial Asset Provider.
   The Financial Services Authority ceases the suitability and competency assessment for nominations other than the first nomination submitted by the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader to the Financial Services Authority.

4. What is meant by being in the process of re-assessment due to indications of integrity issues, financial viability/reputation, and/or competence is if the candidate Key Party is in the process of re-assessment due to indications of integrity issues, financial viability/reputation, and/or competence in their capacity as a Key Party.
   The Financial Services Authority ceases the suitability and competency assessment for the relevant nomination submitted by the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader to the Financial Services Authority.

5. The Financial Services Authority notifies the cessation of suitability and competency assessment to the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader that submitted the nomination.

6. The candidate Key Party whose suitability and competency assessment is ceased may be submitted again to the Financial Services Authority to become a candidate Key Party if they have completed:
   a. legal process proven by the existence of:

1. Order for Termination of Investigation (SP3); or
2. Court Decision that has obtained permanent legal force stating that the person is not guilty;
3. Court Decision that has obtained permanent legal force stating that the person is not declared bankrupt; or
   b. re-assessment process related to integrity issues, financial viability/reputation, and/or competence but not proven to have integrity, financial viability/reputation, and/or competence issues.

E. PROCEDURE FOR DETERMINATION OF SUITABILITY AND COMPETENCY ASSESSMENT RESULTS AND CONSEQUENCES

1. Classification of Assessment Results
   a. The results of the suitability and competency assessment are classified into 2 (two) predicates as follows:

1. approved; or
2. not approved.
   b. The candidate Key Party who obtains the predicate approved as referred to in letter a point 1) is declared to meet the requirements and obtains approval from OJK to become a Key Party at the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader that submitted the nomination.
   c. The candidate Key Party who obtains the predicate not approved as referred to in letter a point 2) is declared not to meet the requirements and does not obtain approval from the Financial Services Authority to become a Key Party at the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader that submitted the nomination.

2. Determination and Submission of Suitability and Competency Assessment Results
   a. The Financial Services Authority determines the results of the suitability and competency assessment of the candidate Key Party no later than 30 (thirty) working days after all application documents are received completely. b. In the event that the suitability and competency assessment of the candidate Key Party is conducted at the time of the application for establishment license, merger, and/or consolidation of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader, the Financial Services Authority provides the determination of the results of the suitability and competency assessment within the time period in accordance with regulations governing the granting of establishment, merger, and/or consolidation licenses for the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader.
   c. What is meant by establishment license as referred to in letter b is the business license of the Digital Financial Asset Provider.
   d. The results of the suitability and competency assessment in the form of predicate approved or predicate not approved for the application of the candidate Key Party as referred to in item 1 letter a) are communicated in writing to the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader that submitted the nomination. e. The Financial Services Authority may notify the results of the suitability and competency assessment to interested parties in the implementation of the functions, duties, and authorities of the Financial Services Authority or as required by legislation, including the government, shareholders of financial services institutions, or other parties deemed necessary by the Financial Services Authority.

3. Consequences of Assessment Results
   a. For candidate Controlling Shareholders who are shareholders who obtain the predicate approved as referred to in item 1 letter a point 1) by the Financial Services Authority, the person concerned may purchase shares of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader. b. For candidate Controlling Shareholders who are shareholders who obtain the predicate not approved as referred to in item 1 letter a point 2) by the Financial Services Authority but already hold shares of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader, then:

1. the person concerned must transfer their share ownership in the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader and not exercise Control; and
2. restrictions are placed on the shareholder rights at the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader concerned, namely shareholder rights are only recognized up to the amount of initial shares before the addition of shares that caused the person to become a candidate Controlling Shareholder who is a shareholder.
   c. What is meant by transferring their share ownership in the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader concerned as referred to in letter b point 1) is transferring their share ownership in the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader concerned so that the person concerned no longer meets the criteria as a candidate Controlling Shareholder who is a shareholder.
   d. The transfer of share ownership as referred to in letter b point 1) must be done no later than 1 (one) year from the date of rejection from the Financial Services Authority. e. What is meant by shareholder rights as referred to in letter b point 1) includes, for example, the right to attend, quorum calculation, voting in the general meeting of shareholders, and the right to receive distributed dividends. f. In the event that the candidate Controlling Shareholder who is a shareholder does not transfer share ownership within the time period as referred to in letter d, then the shareholder rights as referred to in letter e for all shares owned by them are not recognized until the person concerned transfers share ownership. g. The Financial Services Authority may determine parties who are not allowed to receive share transfers as referred to in letter b point 1). h. Parties who are not allowed to receive share transfers as referred to in letter g are parties affiliated with the candidate Controlling Shareholder who is a shareholder, consisting of:
3. parties having a family relationship up to the second degree with the candidate Controlling Shareholder who is a shareholder, including to their business group;
4. parties who are the controllers of the candidate Controlling Shareholder who is a shareholder concerned;
5. parties where the candidate Controlling Shareholder who is a shareholder acts as a controller; and
6. parties having financial interdependence with the candidate Controlling Shareholder who is a shareholder.
   i. What is meant by family relationship up to the second degree as referred to in letter h point 1) is both vertical and horizontal relationships, including parents-in-law, children-in-law, and siblings-in-law, covering:
7. biological/step/adopted parents;
8. biological/step/adopted siblings including their spouses;
9. biological/step/adopted children;
10. biological/step/adopted grandparents;
11. biological/step/adopted grandchildren;
12. biological/step/adopted siblings of parents including their spouses;
13. spouses;
14. parents-in-law;
15. siblings-in-law;
16. spouses of biological/step/adopted children; and/or
17. grandparents of spouses;
18. spouses of biological/step/adopted grandchildren; and/or
19. biological/step/adopted siblings of spouses including their spouses.
    j. The Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must report the transfer of share ownership as referred to in letter b point 1) to the Financial Services Authority by referring to regulations governing the reporting of articles of association changes related to ownership changes applicable at the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader. k. In the event that the transfer of share ownership as referred to in letter b point 1) is done by transferring shares to parties not allowed to receive share transfers as referred to in letter h, then:
20. the transfer is not considered as a transfer of ownership as referred to in letter b point 1);
21. the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader is prohibited from recording the party receiving the transfer in the shareholder list of the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader; and
22. the party receiving the transfer does not obtain their rights as a shareholder.
    l. The Financial Services Authority cancels the approval as referred to in item 1 letter a point 1), if after approval is given:
23. it is known that the information or documents submitted in the suitability and competency assessment process are incorrect so as to not meet the requirements; and/or
24. there is information obtained from other authorities that causes the approved party to no longer meet the requirements.
    m. For candidate members of the Board of Directors or members of the Board of Commissioners who obtain the predicate approved as referred to in item 1 letter a point 1) by the Financial Services Authority, they must be appointed in their positions in accordance with the positions submitted at the time of the suitability and competency assessment application no later than 3 (three) months from the date of determination of the suitability and competency assessment results. n. In the event that after the time period as referred to in letter m, the Key Party who obtains the predicate approved as referred to in item 1 letter a point 1) by the Financial Services Authority has not been appointed, then the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader that submitted the nomination notifies the Financial Services Authority of the reasons for non-appointment of the Key Party concerned no later than 10 (ten) working days since the time period as referred to in letter m. o. The Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must report the appointment of candidate members of the Board of Directors or members of the Board of Commissioners, as referred to in letter m, to the Financial Services Authority by referring to regulations governing the reporting of Key Party changes related to management changes applicable at the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader. p. For candidate members of the Board of Directors or candidate members of the Board of Commissioners who are not approved by the Financial Services Authority as referred to in item 1 letter a point 2) but have already been appointed as members of the Board of Directors or members of the Board of Commissioners, the Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must hold a general meeting of shareholders to cancel the appointment of the person concerned within a time period no later than 3 (three) months from the date the person concerned's application is declared not approved. q. The Exchange, Clearing, Guarantee and Settlement Institution, Custodian, or Trader must report the holding of the general meeting of shareholders to cancel the appointment of members of the Board of Directors or members of the Board of Commissioners as referred to in letter p to the Financial Services Authority by referring to regulations governing the reporting of Key Party changes applicable at the Digital Financial Asset Trading Provider.

F. FORMAT OF ADMINISTRATIVE REQUIREMENTS FOR SUITABILITY AND COMPETENCY ASSESSMENT

1. Application Letter for Approval to Become a Key Party

Number : (date/month/year)
Attachments :
Subject : Application to Obtain Approval to Become a Key Party Controlling Shareholder/Chief Director/Director/Chief Commissioner/Commissioner *)

To:
Head of Executive Supervisor of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets u.p. Head of Department of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets Regulation and Licensing

Hereby we submit an application to obtain approval to become a Key Party for:

1. Name : ...................................................................................
   Position : As Controlling Shareholder/Chief Director/Director/Chief Commissioner/Commissioner *)
2. Name : ...................................................................................
   Position : As Controlling Shareholder/Chief Director/Director/Chief Commissioner/Commissioner *)
3. …etc :
   To complete the aforementioned application, we attach the following administrative requirement documents:
4. questionnaire);
5. curriculum vitae;
6. photocopy of identity documents in the form of ID card (KTP) or valid passport;
7. tax identification number (NPWP) for Indonesian citizens/Indonesian legal entities or equivalent documents valid for foreign citizens/foreign legal entities;
8. 2 (two) sheets of latest color passport photos with size 4x6 cm;
9. photocopy of establishment documents in the form of articles of incorporation, including the latest amended articles of incorporation approved by the competent authority or equivalent documents for foreign business entities in accordance with regulations in the country of origin*);
10. statement letter meeting aspects of integrity, financial reputation or financial viability, and not undergoing suitability and competency assessment at a financial services institution;
11. formal education history documents);
12. training and seminar documents attended (if any));
13. work experience certificate);
14. recommendation letter and/or letter of resignation from the previous Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader);
15. awards relevant to the financial industry achieved (if any));
16. skills mastered and foreign language proficiency, except for candidate Controlling Shareholders;
17. latest audited annual financial report by public accountant);and
18. writing regarding plans to be carried out after appointment in the targeted position).

We also submit the list of administrative requirement fulfillment as referred to in the Attachment of this OJK Regulation.

We may convey that for reporting purposes, you may contact Mr./Ms.*) ..., via email address ... or telephone number ...

Thus this application is submitted, for your attention Mr./Ms.*) we express our gratitude.

Owner/Founder/Board of Directors/Board of Commissioners/Other party designated by GMS*) Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader
................

………………………………
*) strike what is not necessary
) this requirement is submitted for the application of candidate Controlling Shareholders *) this requirement is submitted for the application of candidate Controlling Shareholders in the form of a legal entity ) this requirement is submitted for the application of candidate members of the Board of Directors and members of the Board of Commissioners

2. List of Administrative Requirement Document Fulfillment
   a. List of Administrative Requirement Document Fulfillment for Individual Controlling Shareholders List of Administrative Requirement Document Fulfillment Application to Obtain Approval to Become a Key Party for Individual Controlling Shareholders

Company Name :
Company Type :
Application Letter Number :
Application Letter Date :
The Company submits the following individual names to be nominated as candidate Controlling Shareholders:
No Name of Candidate Controlling Shareholder Domicile Ownership Percentage Brief description of the background of the application to obtain approval to become a Key Party:
Contact Person (Name, Phone Number, e-mail) :
No Description Document Details Substance Yes No

1. Company Application Letter
   Is the application letter signed by the candidate owner/founder/Board of Directors/Board of Commissioners/other party designated by the general meeting of shareholders? Has the appropriate format for the Attachment of this SEOJK been used?
2. Curriculum Vitae
   Has the curriculum vitae been in accordance with the format of the Attachment of this SEOJK?
   Has it been attached with a photocopy of valid KTP/Passport?
   Has it been attached with a photocopy of NPWP for Indonesian citizens or equivalent documents valid for foreign citizens?
   Has it been attached with 2 (two) sheets of latest color passport photos with size 4x6 cm?
3. Statement Letter
   Has the statement letter from the individual Controlling Shareholder been in accordance with the format in the Attachment of this SEOJK?
   Signature above stamp
   We declare that the entries above are in accordance with the actual documents and if there are differences, corrections will be made.
   Owner/Founder/Official of Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*) who is authorized
   ................

………………………………
*) strike what is not necessary

b. List of Administrative Requirement Document Fulfillment for Controlling Shareholders in the Form of Legal Entities

List of Administrative Requirement Document Fulfillment Application for Approval to Become a Principal Party for Controlling Shareholders in the Form of Legal Entities

Company Name:
Company Type:
Application Letter Number:
Application Letter Date:
The Company submits the following legal entity to be proposed as a candidate Controlling Shareholder of the company.

No. Company Name Representative Name Representative Position Principal Party Represented Domicile Ownership Percentage

Brief description of the background of the application to obtain approval to become a Principal Party:
Contact Person (Name, Phone Number, e-mail):

No. Description Document Details Substance Yes No

1. Company Application Letter
   Has the application letter been signed by the prospective owner/founder/Board of Directors/Board of Commissioners/other party appointed by the general meeting of shareholders*)? Has the format used been in accordance with the format in the Appendix of this SEOJK?

2. Representative of the Company
   Is the legal entity/business group of the prospective Controlling Shareholder who is a shareholder*) represented by the Board of Directors/officials at the Director level? Has the company questionnaire used the format in accordance with the format in the Appendix of this SEOJK? Has it been attached with a photocopy of the establishment document in the form of the deed of establishment of the legal entity or an equivalent document for foreign business entities in accordance with the regulations in the country of origin?

3. Representative of the Company
   Has it been attached with a photocopy of the Taxpayer Identification Number (NPWP) for Indonesian legal entities or an equivalent document applicable to foreign legal entities?

4. Curriculum Vitae
   Has the curriculum vitae of the Board of Directors members and Board of Commissioners members been in accordance with the format in the Appendix of this SEOJK?

5. Annual Financial Report
   Has it been attached with the latest annual financial report audited by a public accountant?

6. Statement Letter
   Has the statement letter from the Board of Directors or equivalent officials representing the legal entity/Controlling Shareholder who is a shareholder*) been in accordance with the format in the Appendix of this SEOJK?

Signature above the stamp.
We declare that the entries above are in accordance with the actual documents and if there are differences, corrections will be made.

Owner/Founder/Official of the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader who is authorized*)
................

………………………………
*) strike out what is not necessary

c. List of Administrative Requirement Document Fulfillment for Board of Directors Members/Board of Commissioners Members

List of Administrative Requirement Fulfillment Application for Approval to Become a Principal Party for Board of Directors Members/Board of Commissioners Members

Company Name:
Company Type:
Reporting Letter Number:
Reporting Letter Date:
The Company submits the following individual names to be proposed as candidate Principal Parties of the company:

No. Name Position

Brief description of the background of the application for change of Board of Directors/Acting Manager/Board of Commissioners*):
Reason for nomination:
Name of the official being replaced:
Reason for position replacement:
Term of office:
Contact Person (Name, Phone Number, e-mail):

No. Description Document Details Substance Yes No

1. Company Application Letter
   Has the application letter been signed by the prospective owner/founder/Board of Directors/Board of Commissioners/other party appointed by the general meeting of shareholders*? Has the format used been in accordance with the format in the Appendix of this SEOJK?

2. Curriculum Vitae
   Has the curriculum vitae been in accordance with the format in the Appendix of this SEOJK?
   Has it been attached with a photocopy of a valid ID card/Passport?
   Has it been attached with a photocopy of the Taxpayer Identification Number (NPWP) for Indonesian citizens or an equivalent document applicable to foreign citizens? Has it been attached with 2 (two) sheets of the latest color photos with size 4x6 cm? Has it been attached with formal education history documents in the form of photocopies of the last diploma and skill certificates (if any)? Has it been attached with training and seminar documents previously attended (if any)? Has it been attached with a letter of work experience certificate? Has it been attached with a letter of recommendation and/or a letter of statement to resign from the previous Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader? Has it been attached with awards relevant to the financial industry previously achieved (if any)?

3. Statement Letter
   Has the statement letter from the party nominated as a Board of Directors member/Board of Commissioners member*) been in accordance with the format in the Appendix of this SEOJK?

Signature above the stamp.
Has it been attached with writing regarding plans to be carried out after being appointed to the targeted position?

We declare that the entries above are in accordance with the actual documents and if there are differences, corrections will be made.

Owner/Founder/Exchange Official/Clearing, Guarantee and Settlement Institution/Custodian/Trader who is authorized*)
................

………………………………
*) strike out what is not necessary

3. Self-Assessment Format for Board of Directors Members/Board of Commissioners Members

a. Self-Assessment of Integrity Requirements

I INTEGRITY REQUIREMENTS YES NO DESCRIPTION
A. Competent to perform legal acts
B. Possesses good character and morality

1. Never committed a criminal offense in the financial services sector whose penalty has been served within the last 20 (twenty) years before nomination.
2. Never committed a criminal offense, namely criminal acts listed in the Criminal Code (KUHP) and/or similar to the KUHP abroad with a prison sentence threat of 1 (one) year or more whose penalty has been served within the last 10 (ten) years before nomination.
3. Never committed other criminal offenses with a prison sentence threat of 1 (one) year or more, whose penalty has been served within the last 20 (twenty) years before nomination.
   C. Possesses commitment to comply with legislation and support OJK policies
4. Never violated prudential principles in the financial services sector.
5. Never violated legislation in the financial services sector.
   D. Possesses commitment to the development of healthy Digital Financial Asset Trading Organizers
6. Possesses commitment not to commit and/or repeat acts and/or actions that cause the person to be listed in the list of parties prohibited from being Principal Parties, for candidates who have previously been listed in the list of parties prohibited from being Principal Parties.
7. Never committed acts that provide unfair benefits to shareholders, Principal Parties, employees, and/or other parties that can harm or reduce Consumer rights.
8. Never committed acts that are not in accordance with their authority or beyond their authority.
9. Never declared incapable of exercising their authority.
   E. Not included as a party prohibited from becoming a Principal Party

b. Self-Assessment of Financial Reputation Requirements

II FINANCIAL REPUTATION REQUIREMENTS YES NO DESCRIPTION

1. Does not have non-performing loans and/or financing.
2. Never declared bankrupt and/or never been a shareholder, who is not a shareholder, Board of Directors member, or Board of Commissioners member who was declared guilty of causing a company to be declared bankrupt within the last 5 (five) years before nomination.

c. Self-Assessment of Competency Requirements

COMPETENCY REQUIREMENTS
RATING SCALE
Description
Very Poor Poor Fair Good Very Good
A. Knowledge and ability in strategic management

1. Adequate and relevant knowledge with their position
   a. Knowledge regarding organizational structure, management, job descriptions, and responsibilities according to position. b. Potential ability to perform business process analysis.
   c. Ability to lead an organization to achieve organizational goals, specifically for Board of Directors members.
   d. Ability to manage human resources to achieve organizational goals, specifically for Board of Directors members. e. Basic supervisory knowledge including internal control, specifically for Board of Commissioners members. f. Basic knowledge related to leadership and conflict management, specifically for Board of Commissioners members. g. Ability to perform evaluations regarding company obligations or other technical actuarial aspects.

2. Understanding of legislation
   a. Understanding of legislation in the financial services sector, prioritizing legislation in the relevant industry. b. Basic understanding of other relevant legislation, including understanding of legislation in the field of limited liability companies, Financial Services Authority, bankruptcy, and money laundering criminal offenses and their implementing regulations.

3. Ability to perform strategic management in the framework of healthy business development
   a. Ability to formulate the vision and mission of the company to be led, specifically for Board of Directors members. b. Ability to perform company situation analysis.
   c. Ability to perform analysis of the company's internal condition development.
   d. Ability to set targets to be achieved related to the position held, specifically for Board of Directors members. e. Ability to design short, medium, and long-term strategies to achieve company objectives, specifically for Board of Directors members. f. Ability to perform analysis of Board of Directors policies, specifically for Board of Commissioners members. B. Experience at Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader and/or other fields relevant to their position Company Name: ... Position: ... Tenure: ...
   C. Expertise at Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader and/or other fields relevant to their position at Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader

4. Questionnaire Format for Controlling Shareholders

a. Questionnaire for Individual Controlling Shareholders (Use a separate answer sheet if the available pages are insufficient)

1. Full name (including alias)
2. Other names (if any)
3. Place, date of birth
4. Address according to identity proof
5. Domicile/correspondence address (if different from address according to item 4)
6. Professional qualifications of yours and their period (state completely)
7. Explain your profession/business activities and professional membership in the last two years. Explain including company name, business field, position, professional association followed, and other relevant information
8. Taxpayer Identification Number (NPWP) (for Indonesian citizens) or equivalent (for foreign citizens)
9. Explain the source of funds that you will use to buy shares of the Digital Financial Asset Trading Organizer, whether from:

• Personal wealth?
• Domestic loans?
• Foreign loans?
• Others?
  (State the source)

10. Explain the companies you own (directly and indirectly/nominee)
11. Explain your obligations and responsibilities at that company
12. Are you currently a Controlling Shareholder at another Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*)? Explain
13. Are you currently acting as a Controlling Shareholder in a non-Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader company*)?
14. Does another Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*) in question no. 12 and/or non-Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader company*) in question no. 13 have a business relationship with the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*) whose shares you will buy? Explain the type of business relationship in detail
15. Do you intend to buy those shares for the purpose of long-term investment (strategic partner)? If not, explain
16. Do you currently already own shares at the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*) whose shares you will buy (directly or indirectly)? Explain details with the composition
17. How many shares will you buy? What is the purchase value? What is the proportion of the total shares of the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*)?
    If you already owned shares of the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*) before, what is the proportion if added with the number of shares you will buy now?
18. How will you use your voting rights at the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*) there, individually (you as an individual) or together with your business group/affiliates?
19. Have you ever been asked to stop working, subjected to disciplinary actions/sanctions by the company, or subjected to prohibition sanctions to practice your profession?
20. Have you ever been declared bankrupt by authorities in Indonesia or other countries? Explain specifically
21. When you managed or owned a company, was that company ever declared bankrupt by authorities in Indonesia or other countries?
22. Have you, your company, or your business group ever been published or become the object of investigation by law enforcement authorities regarding criminal matters or other misconduct in the financial field?
23. Do you have a company whose license was frozen by authorities in Indonesia or other countries?
    Explain
24. Do you or your company have a license to conduct business in Indonesia or other countries? If true, explain the type of business field, how long, where?
    If there are licenses that were frozen/cancelled, explain specifically
25. Have you, your company, or your business group ever had a license application in the banking/financial field rejected by authorities in Indonesia or other countries? Explain in detail
26. Do you and/or your business group have plans to conduct other business in Indonesia or other countries that will affect the Digital Financial Asset Trading Organizer whose shares you will buy? Explain
27. Have you, your company, or your business group ever failed to fulfill obligations to other parties based on laws in Indonesia or other countries (e.g., tax payments, credits, etc.)? Explain
28. Is your business activity or your company/business group's business activity currently or will be guaranteed by other parties? Explain
29. Explain if there is other information that can provide data as consideration for the Financial Services Authority in processing your application

The undersigned hereby declares that:

1. has understood the provisions related to my rights and obligations as a Controlling Shareholder who is a shareholder*) as regulated in the applicable provisions.
2. the information provided above is true, complete, and accurate.
3. will inform the Financial Services Authority within 30 (thirty) days if there are significant changes in information.
4. if the above statement/information is proven to be untrue, then within 30 (thirty) days is willing to resign from the Controlling Shareholder who is a shareholder of the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader*).
   *) strike out what is not necessary
   (City), ...........…
   (Signature above stamp is sufficient)
   (Name/Position)

b. Questionnaire for Controlling Shareholders in the Form of Legal Entities (Use a separate answer sheet if the available pages are insufficient)

1. Company name and full address:
2. Place and date of company establishment:
3. Full name (party representing the company):
   Position in the company:
4. Explain your obligations and responsibilities as the party representing the company:
5. Supervisory Body/Regulator of your company:

• Institution Name:
• Address:
• Website:
  Is your company's supervisory authority willing to accept the concept of consolidated supervision by the Financial Services Authority?

6. Main business of the company currently and according to the company's articles of association:

7. Is your company currently a Controlling Shareholder at another Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader?
   Explain.

8. Is your company currently acting as a Controlling Shareholder in a non-Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader company?
   Explain.

9. Does the company in question no. 8 have a business relationship with the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader to be taken over or with the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader in question no. 7? Explain.

10. Does your company intend to become a controller/Controlling Shareholder for the purpose of long-term investment (strategic partner)?
    If Yes, explain your program.

11. Does your company currently already own shares of the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader to be taken over?
    If Yes, explain the composition in detail in whose name, explain the reasons.

12. Describe in detail, the nominal amount/percentage of ownership to be taken over by your company and your business group.

13. Explain the use of your company's voting rights at the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader to be taken over: Is it used individually (your company independently) or together with your business group as a unity?

14. State the name and position of the "key person" in your company. Explain detailed information including nationality, academic and professional qualifications, and employment in the last five years.

15. Inform in detail the entire list of shareholders in your company and explain its Controlling Shareholders.

16. Is your company currently directly or indirectly controlling the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader to be taken over?
    If Yes, explain.

17. Has your company ever been published or become the object of investigation by competent authorities in Indonesia or other countries in criminal matters or other misconduct in the financial field?
    If Yes, explain, including the final result of resolution.

18. Is your company a controller in another company whose business license has ever been revoked or recommended for revocation by authorities in Indonesia or other countries:
    If Yes, explain.

19. Does your company or your business group have a license to conduct business in Indonesia or other countries and then the license was frozen/cancelled?
    If Yes, explain.

20. Has your company or your business group ever had a license application in the banking/financial field rejected by authorities in Indonesia or other countries?
    If Yes, explain.

21. Do you and/or your business group have plans to conduct other business in Indonesia or other countries that will affect the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader to be taken over?
    If Yes, explain.

22. Has your company or your business group ever failed to fulfill obligations (tax payments, credits, etc.) to other parties based on laws in Indonesia or other countries?
    If Yes, explain.

23. Is the business activity of your company/other companies in your business group currently or will be guaranteed by other parties?
    If Yes, explain by whom and how that guarantee will be implemented.

24. Explain the source of funds that your company will use to take over the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader (answer must be accompanied by supporting documents).

25. Explain reasons/other information that can strengthen the consideration of the OJK in processing the application for the takeover of the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader by your company (accompanied by supporting evidence).
    The undersigned hereby declares that:

26. has understood the provisions related to my rights and obligations as a Controlling Shareholder who is a shareholder*) as regulated in the applicable provisions.

27. the information provided above is true, complete, and accurate.

28. will inform the Financial Services Authority within 30 (thirty) days if there are significant changes in information.

29. if the above statement/information is proven to be untrue, then within 30 (thirty) days is willing to resign from the Controlling Shareholder who is a shareholder of the Exchange/Clearing, Guarantee and Settlement Institution/Custodian/Trader.
    (City), ..........................
    (Signature above stamp is sufficient)
    Name & Position:
    _________________________________________________ Name of Company Represented:

---

Legal basis for representation:

---

*) strike out what is not necessary

5. Format of Controlling Shareholder Statement Letter
   STATEMENT LETTER
   (to be filled by prospective Controlling Shareholders)

---

I, the undersigned:
Name : .....................................................................................
Address : .....................................................................................
Position : Controlling Shareholder hereby declare that I:

1. meet the integrity aspects, including:
   a. are competent to perform legal acts; b. have never been sentenced for proven criminal offenses in the financial services sector, namely criminal offenses at financial service institutions whose sentences have been fully served within the last 20 (twenty) years prior to nomination;
   c. have never been sentenced for proven criminal acts, namely criminal offenses listed in the Criminal Code (KUHP) and/or similar KUHPs abroad with a prison sentence threat of 1 (one) year or more whose sentences have been fully served within the last 10 (ten) years prior to nomination;
   d. have never been sentenced for proven other criminal acts with a prison sentence threat of 1 (one) year or more, including but not limited to corruption; money laundering; narcotics/psychotropics; smuggling; customs; excise; human trafficking; illegal arms trade; terrorism; counterfeiting money; in the field of taxation; in the field of forestry; in the field of environment; in the field of marine and fisheries whose sentences have been fully served within the last 20 (twenty) years prior to nomination; e. have never violated prudential principles in the financial services sector; f. have never violated legislation in the financial services sector; g. have submitted plans for the prospective Controlling Shareholder regarding the operational development of the Exchange/Clearing and Guaranteeing Institution and Settlement/Custodian Operator/Trader*); h. have never violated commitments agreed upon with the supervising and regulatory agencies of the Exchange/Clearing and Guaranteeing Institution and Settlement/Custodian Operator/Trader*);
   i. have a commitment not to commit and/or repeat acts and/or actions that cause the person to be listed as a Prohibited Party, for candidates who have previously been listed as a Prohibited Party;
   j. have never committed acts that provide unfair benefits to shareholders, Key Parties, employees, and/or other parties that can harm or reduce consumer rights;

k. have never committed acts that are not in accordance with their authority or beyond their authority;
l. have never been declared incapable of exercising their authority; and
m. are not included as parties prohibited from becoming Key Parties.
2. meet the financial viability aspects, including:
a. have a financial reputation; b. have financial capabilities that can support business development; and
c. have a commitment to undertake necessary efforts if the company faces capital or liquidity difficulties.
3. are not currently undergoing a fitness and propriety assessment process at a financial service institution.

This statement of declaration is made truthfully and if it is later found that my declaration is not true, I am willing to be sued in court in accordance with applicable laws.

(date/month/year)
(signature)
(full name)
*) strike out what is not necessary

6. Curriculum Vitae List
   CURRICULUM VITAE LIST
   Personal Data
   Name : ....................................................
   Place/Date of Birth : ....................................................
   Gender : ....................................................
   Religion : ....................................................
   Nationality : ....................................................
   National Identity Number (NIK)
   : ....................................................
   Address : ....................................................
   City .....
   Province .....
   Postal Code .....
   Telephone Number : ....................................................
   Mobile Phone Number
   Applicant
   : ....................................................
   Education History
7. Formal
   Education Level
   Major/Specialization
   Name/Place
   Year of Graduation
8. Non-Formal (Certified)
   Course/Seminar Organizer Year
9. Professional Education (Profession)
   Certification Organizer Year of Graduation
   4x6 cm

This copy is in accordance with the original
Director of Legal Development
Legal Department
Aat Windradi
4. Work History
Name
Company
Position Description
Main Duties
Date
Start
Working
Date
Stop
Working
Reason
For Leaving
.....,............ 20.....
Applicant,
Stamp
Rp.10,000,-
......................................
(Clear name and signature)
Established in Jakarta on 19 December 2024
EXECUTIVE HEAD
SUPERVISOR OF INNOVATION
TECHNOLOGY FOR THE
FINANCIAL SECTOR, DIGITAL FINANCIAL ASSETS AND CRYPTO ASSETS FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX IV
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE CONDUCT OF TRADING OF DIGITAL FINANCIAL ASSETS INCLUDING CRYPTO ASSETS

GUIDELINES FOR RE-EVALUATION OF KEY PARTIES OF EXCHANGES, CLEARING AND GUARANTEEING INSTITUTIONS AND SETTLEMENT, TRADERS, AND CUSTODIAN OPERATORS A. KEY PARTIES SUBJECT TO RE-EVALUATION

1. Key Parties subject to re-evaluation by the Financial Services Authority include:
   a. controlling shareholders; b. members of the Board of Directors; and
   c. members of the Board of Commissioners.
2. Re-evaluation for Key Parties as referred to in item 1 includes:
   a. Key Parties who are currently serving or exercising Control on Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders and there are indications of involvement and/or responsibility for integrity, financial viability, financial reputation, and/or competence issues; b. parties who, at the time of being Key Parties on Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, had indications of involvement and/or responsibility for integrity, financial viability, financial reputation, and/or competence issues, but at the time of re-evaluation, the person:

1. has become a shareholder and/or works at another Exchange, Clearing and Guaranteeing Institution and Settlement, Custodian Operator, or Trader, for example, during an inspection at PT DEF, a violation was found committed by the IT Director of PT DEF, namely Mr. A. From document research, it was known that the violation involved the Finance Director of PT DEF, namely Mr. B, who has become the Finance Director at PT ABC. In this case, the parties subject to re-evaluation are Mr. A as the IT Director of PT DEF and Mr. B as the former Finance Director of PT DEF; or
2. is no longer a shareholder and/or works at another Exchange, Clearing and Guaranteeing Institution and Settlement, Custodian Operator, or Trader, for example, during an inspection at PT XYZ, a violation was found committed by Mr. C as the Compliance Director whose term has expired. In this case, the party subject to re-evaluation is Mr. C as the former Compliance Director of PT XYZ, even though the person has ceased from their position and no longer works at an Exchange, Clearing and Guaranteeing Institution and Settlement, Custodian Operator, or Trader or Digital Financial Asset Trading Organizer and other financial service institutions.
   B. SCOPE OF RE-EVALUATION

1. The implementation of re-evaluation of Key Parties is conducted at any time if based on evidence, data, and/or information obtained from indirect supervision (off site supervision), direct supervision (on site supervision),
   and/or other information, there are indications of involvement and/or responsibility for:
   a. integrity and/or financial viability issues regarding controlling shareholders; or b. integrity, financial reputation, and/or competence issues regarding members of the Board of Directors and members of the Board of Commissioners.
2. Integrity and/or financial viability issues for controlling shareholders as referred to in item 1 letter a are issues related to:
   a. actions, both directly and indirectly, involving influencing and/or ordering members of the Board of Directors, members of the Board of Commissioners, and/or employees of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to conceal and/or obscure violations of certain regulations or actual financial conditions and/or transactions, including but not limited to:

1. false recording and/or fictitious transactions, whether conducted on the asset or liability side of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, including transactions on administrative accounts;
2. embezzlement or manipulation;
3. incorrect bookkeeping practices and/or financial reports of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders;
4. hacking of information system technology of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders; and
5. concealing, destroying, and/or eliminating bookkeeping records and/or transaction supporting documents or bookkeeping records of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders;
   b. actions, both directly and indirectly, involving influencing and/or ordering members of the Board of Directors, members of the Board of Commissioners, and/or employees of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to provide unfair benefits to shareholders, Key Parties, employees of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, and/or other parties that can harm or reduce the profits of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, including but not limited to:
6. sale and/or purchase of assets including assets in the form of investment instruments owned by Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders at prices that are not fair compared to market prices;
7. provision of facilities and/or salaries that do not comply with legislation regulations and/or are unfair to members of the Board of Commissioners, members of the Board of Directors, employees, and/or other parties;
8. provision of commissions to other parties unfairly in connection with the conduct of business activities;
9. receipt of fees unfairly in connection with the conduct of business activities; and
10. actions that utilize Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to finance personal interests and/or business group interests illegally;
    c. actions, both directly and indirectly, involving influencing and/or ordering members of the Board of Directors, members of the Board of Commissioners, and/or employees of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to commit acts that violate prudential principles in the financial services sector and/or good corporate governance principles of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, including but not limited to:
11. unhealthy debt and/or obligation management practices;
12. product marketing and/or conducting activities that have not received approval from the Financial Services Authority;
13. purchase or disposal of assets including assets in the form of investment instruments that do not pay attention to prudential principles and risk management; and
14. provision of funds to parties, sectors, and/or activities prohibited by legislation regulations;
    d. proven to have committed criminal offenses that have been decided by the court and have permanent legal force, namely:
15. criminal offenses in the financial services sector;
16. criminal acts, namely criminal offenses listed in the Criminal Code (KUHP) and/or similar KUHPs abroad with a prison sentence threat of 1 (one) year or more; and/or
17. other criminal offenses with a prison sentence threat of 1 (one) year or more, including but not limited to corruption, money laundering, narcotics/psychotropics, smuggling, customs, excise, human trafficking, illegal arms trade, terrorism, counterfeiting money, in the field of taxation, in the field of forestry, in the field of environment, in the field of marine, and fisheries;
    e. causing Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to experience difficulties that endanger the continuity of the business of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders and/or can endanger the financial services industry, including but not limited to actions that violate legislation regulations that can cause Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to have their business activities frozen and/or their business licenses revoked; f. not implementing orders from the Financial Services Authority to perform and/or not perform certain actions; g. having non-performing loans and/or financing at Financial Service Institutions and/or becoming controllers, members of the Board of Directors, members of the Board of Commissioners, or equivalents of companies that have non-performing loans and/or financing, excluding non-performing loans and/or financing originating from annual fees, administrative fees, and/or other charges that do not originate from credit card usage transactions; h. proven to be declared bankrupt and/or becoming shareholders, members of the Board of Directors, members of the Board of Commissioners, or equivalents, who are declared guilty causing a company to be declared bankrupt or have their business licenses revoked;
    i. not undertaking necessary efforts when Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders face capital and/or liquidity difficulties, including but not limited to:
18. not undertaking efforts to increase capital deposits; and
19. not undertaking efforts to find new investors; and/or
    j. refusing to provide commitments and/or not fulfilling commitments agreed upon with the Financial Services Authority and/or the government, such as commitments agreed to be fulfilled by Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders as stated in the results report of direct inspections of Digital Financial Asset Trading Organizers.

3. Integrity, financial reputation, and/or competence issues for members of the Board of Directors and members of the Board of Commissioners as referred to in item 1 letter b are issues related to:
   a. actions, both directly or indirectly, involving concealing and/or obscuring violations of certain regulations or actual financial conditions and/or transactions, including but not limited to:

1. false recording and/or fictitious transactions, whether conducted on the asset or liability side of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, including transactions on administrative accounts;
2. embezzlement or manipulation;
3. incorrect bookkeeping practices and/or financial reports of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders;
4. hacking of information system technology of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders; and
5. concealing, destroying, and/or eliminating bookkeeping records and/or transaction supporting documents or bookkeeping records of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders;
   b. actions, both directly or indirectly, involving providing unfair benefits to shareholders, members of the Board of Directors, members of the Board of Commissioners, employees of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, and/or other parties that can harm or reduce the profits of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, including but not limited to:
6. sale and/or purchase of assets including assets in the form of investment instruments owned by Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders at prices that are not fair compared to market prices;
7. provision of facilities and/or salaries that do not comply with legislation regulations and/or are unfair to members of the Board of Commissioners, members of the Board of Directors, employees, and/or other parties;
8. provision of commissions to other parties unfairly in connection with the conduct of business activities;
9. receipt of fees unfairly in connection with the conduct of business activities; and
10. actions that utilize Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to finance personal interests and/or business group interests illegally;
    c. actions, both directly or indirectly, involving committing acts that violate prudential principles and/or good corporate governance principles of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, including but not limited to:
11. unhealthy debt and/or obligation management practices;
12. product marketing and/or conducting activities that have not received approval from the Financial Services Authority;
13. purchase or disposal of assets including assets in the form of investment instruments that do not pay attention to prudential principles and risk management; and
14. provision of funds to parties, sectors, and/or activities prohibited by legislation regulations;
    d. proven to have committed criminal offenses that have been decided by the court and have permanent legal force, namely:
15. criminal offenses in the financial services sector;
16. criminal acts, namely criminal offenses listed in the Criminal Code (KUHP) and/or similar KUHPs abroad with a prison sentence threat of 1 (one) year or more; and/or
17. other criminal offenses with a prison sentence threat of 1 (one) year or more, including but not limited to corruption, money laundering, narcotics/psychotropics, smuggling, customs, excise, human trafficking, illegal arms trade, terrorism, counterfeiting money, in the field of taxation, in the field of forestry, in the field of environment, in the field of marine, and fisheries;
    e. causing Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to experience difficulties that endanger the continuity of the business of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders and/or can endanger the financial services industry, including but not limited to actions that violate legislation regulations that can cause Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders to have their business activities frozen and/or their business licenses revoked; f. not implementing orders from the Financial Services Authority to perform and/or not perform certain actions; g. having non-performing loans and/or financing at financial service institutions and/or becoming controllers, members of the Board of Directors, members of the Board of Commissioners, or equivalents of companies that have non-performing loans and/or financing, excluding non-performing loans and/or financing originating from annual fees, administrative fees, and/or other charges that do not originate from credit card usage transactions; h. proven to be declared bankrupt and/or becoming shareholders, members of the Board of Directors, members of the Board of Commissioners, or equivalents, who are declared guilty causing a company to be declared bankrupt or have their business licenses revoked;
    i. not undertaking strategic management in order to develop Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders healthily, including but not limited to the ability to interpret the vision and mission of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders, anticipating economic and financial services sector developments, analyzing the industry situation and related industrial sectors directly with the business activities of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders; and
    j. refusing to provide commitments and/or not fulfilling commitments agreed upon with the Financial Services Authority and/or the government, such as commitments agreed to be fulfilled by Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders as stated in the results report of direct inspections of Exchanges, Clearing and Guaranteeing Institutions and Settlement, Custodian Operators, or Traders.
    C. RE-EVALUATION PROCEDURE

1. The Financial Services Authority conducts re-evaluation with the following steps:
   a. clarification of evidence, data, and/or information to the Key Parties being re-evaluated; b. determination and transmission of preliminary re-evaluation results to the Key Parties being re-evaluated;
   c. response from the Key Parties being re-evaluated regarding the preliminary re-evaluation results; and
   d. determination and notification of final re-evaluation results to the Key Parties being re-evaluated.

2. The Financial Services Authority sends a letter requesting clarification of evidence, data, and/or information as referred to in item 1 letter a to the Principal Party being re-evaluated.

3. For Principal Parties who no longer own, manage, supervise, and/or have influence on the Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader at the time of re-evaluation, the notification for the clarification request can be done by correspondence through the contactable party and/or summons through mass media.

4. The Principal Party being re-evaluated is given the opportunity to submit a response to the request for clarification of evidence, data, and/or information as referred to in item 1 letter a, at the latest 10 (ten) working days calculated from the date of the written clarification request from the Financial Services Authority.

5. The Financial Services Authority may summon the Principal Party for an interview process in the context of implementing the clarification of evidence, data, and/or information, which is carried out within a maximum period of 10 (ten) working days calculated from the date of the written clarification request from the Financial Services Authority.

6. In the event that the Principal Party being re-evaluated does not use the right to submit clarification of evidence, data, and/or information, including during the interview as referred to in item 5, the Financial Services Authority makes a determination and submits the preliminary results of the re-evaluation to the Principal Party being re-evaluated.

7. Based on the results of the clarification of evidence, data, and/or information, the Financial Services Authority makes a determination and submits the preliminary results of the re-evaluation to the Principal Party being re-evaluated.

8. The Principal Party being re-evaluated is given the opportunity to submit a response to the preliminary results of the re-evaluation as referred to in item 6 or item 7, at the latest 10 (ten) working days calculated from the date of the Financial Services Authority's letter.

9. In the event that the Principal Party being re-evaluated does not use the right to submit a response to the preliminary results of the re-evaluation within the time limit as referred to in item 8, the Financial Services Authority determines the preliminary results of the re-evaluation to become the final results of the re-evaluation.

10. In the event that the Financial Services Authority obtains new evidence, data, and/or information before the determination and notification of the final results of the re-evaluation as referred to in item 1 letter d, the Financial Services Authority determines the final results of the re-evaluation by considering the new evidence, data, and/or information obtained.

11. The determination of the final results of the re-evaluation as referred to in item 9 or item 10 is carried out by still referring to the process as referred to in item 1 letter a to letter c.

12. The determination of the final results of the re-evaluation is carried out based on the level of involvement and/or responsibility of the Principal Party being re-evaluated, which is categorized into:
    a. perpetrator; or

b. accomplice perpetrator.
13. What is meant by perpetrator as referred to in item 12 letter a is:
a. a person who orders, instructs to do, or proposes the occurrence of an act; b. a person who approves, participates in approving, or signs;
c. a person who carries out or participates in carrying out an act based on orders, with or without pressure, and who should know or should suspect that the order violates statutory regulations, including:

1. a person who executes a proposal/order in the form of providing analysis/recommendation support against the occurrence of an act/decision and who should know or should suspect that the proposal/order violates statutory regulations and does not attempt to refuse to carry out the act or order; and
2. a person who executes a decision and who should know or should suspect that the decision violates statutory regulations and does not attempt to refuse to carry out the act or order; and/or
   d. a person who carries out an act due to a promise or specific reward.

14. What is meant by accomplice perpetrator as referred to in item 12 letter b is a person who, by carrying out duties, positions, and/or due to an order from another party, with or without pressure, carries out or participates in carrying out an act, and who should know or should suspect that the act or order carried out violates statutory regulations, but who has attempted to refuse to carry out the act or order, which is proven by supporting documents and/or who has reported the act or order to the relevant work unit handling violations of statutory regulations.

D. FINAL RESULTS OF RE-EVALUATION

1. The Financial Services Authority determines the final results of the re-evaluation of Principal Parties with the predicate:
   a. pass; or b. fail.
2. Parties categorized as accomplice perpetrators may be determined to have passed if they submit a letter of statement containing a commitment not to repeat violation actions in the future.
3. Violations of the commitment as referred to in item 2 can become the basis for re-evaluation of the party concerned.
4. The Financial Services Authority notifies the final results of the re-evaluation of Principal Parties in writing to the Controlling Principal Party, Digital Financial Asset Trading Organizer, Principal Party being re-evaluated, and other interested parties.

E. CONSEQUENCES OF FINAL RESULTS OF RE-EVALUATION

1. Principal Parties determined with the predicate pass meet the requirements to remain as Controlling Shareholders, members of the Board of Directors, members of the Board of Commissioners.
2. Controlling Principal Parties determined with the predicate fail due to issues:
   a. integrity, are prohibited from becoming:

1. Controlling Principal Party or owning shares in the Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader;
   and/or
2. Management Principal Party of the Exchange, Clearing and Guarantee Institution, Custodian, or Trader.
   b. financial feasibility, are prohibited from becoming:
3. Controlling Principal Party where the Principal Party is being re-evaluated, for example, Controlling Shareholder of PT XYZ determined to fail re-evaluation due to financial feasibility issues, then the party concerned is prohibited from becoming a Controlling Shareholder of any Digital Financial Asset Trading Organizer company; and/or
4. Management Principal Party where the Principal Party is being re-evaluated, for example, individual Controlling Shareholder of PT XYZ determined to fail re-evaluation due to financial feasibility issues such as financial reputation, then the party concerned is prohibited from becoming a member of the Board of Directors, member of the Board of Commissioners of any Digital Financial Asset Trading Organizer company.

3. Management Principal Parties determined with the predicate fail due to issues:
   a. integrity, are prohibited from becoming:

1. Controlling Principal Party or owning shares in the Digital Financial Asset Trading Organizer;
   and/or
2. Management Principal Party and/or Official Principal Party in the Digital Financial Asset Trading Organizer.
   b. financial reputation, are prohibited from becoming:
3. Controlling Principal Party where the Principal Party is being re-evaluated; and/or
4. Management Principal Party where the Principal Party is being re-evaluated.
   c. competence, are prohibited from becoming Management Principal Party where the Principal Party is being re-evaluated.

4. The imposition of a ban period on the parties as referred to in item 2 and item 3, with details as stated in the Appendix which is an integral part of this Financial Services Authority Regulation.

5. The Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader must follow up on the dismissal of the Management Principal Party within a maximum period of 3 (three) months from the date of notification from the Financial Services Authority by holding a general meeting of shareholders to dismiss (ratify) the Management Principal Party determined with the predicate fail.

6. The Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader must report the follow-up as referred to in item 5 to the Financial Services Authority within a maximum period of 10 (ten) working days from the date of holding the general meeting of shareholders for the dismissal of the Management Principal Party.

7. Controlling Shareholders who are shareholders determined with the predicate fail must transfer all share ownership in:
   a. the Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader in the event that the Controlling Shareholder is determined to fail due to integrity factors; or b. the Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader where the Principal Party is being re-evaluated, in the event that the Controlling Shareholder is determined to fail due to financial feasibility factors, within a maximum period of 1 (one) year from the date the predicate fail is determined by the Financial Services Authority.

8. The Financial Services Authority may determine the time limit for the obligation to transfer ownership as referred to in item 7 separately in the event that:
   a. in the opinion of the Financial Services Authority, the step needs to be adjusted to the rehabilitation program of the Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader as regulated in statutory regulations and/or policies in the financial services sector; and/or b. the Controlling Shareholder who is a shareholder is subject to the obligation to transfer all share ownership in more than 1 (one).

9. The rights of the Controlling Principal Party regarding dividend distribution from the Exchange, Clearing and Guarantee Institution, Settlement Institution, Custodian, or Trader in the form of a limited liability company, the following provisions apply:
   a. The Controlling Principal Party still has the right to dividend payment for a maximum period of 1 (one) year calculated from the date the predicate fail is determined by the Financial Services Authority. b. In the event that the time limit as referred to in letter a has expired and the Controlling Principal Party does not transfer all share ownership as referred to in item 7 or item 8, the right to dividend payment is suspended until the party concerned transfers all their share ownership in accordance with statutory regulations.

F. REQUEST FOR REVIEW

1. Principal Parties determined with the predicate fail may submit a request for review of the predicate fail before the consequence time limit expires.
2. The request for review as referred to in item 1 may be submitted if it meets the criteria:
   a. there is new evidence, data, and/or information related to the absence, or not submitting clarification or response during the re-evaluation; b. there is a final and binding court decision stating that the party determined with the predicate fail as referred to in item 1 is not proven to have committed a criminal offense or not proven to be declared bankrupt and/or to be a shareholder, member of the board of directors, or member of the board of commissioners, or equivalent, who is declared guilty causing a company to be declared bankrupt or have its business license revoked;
   c. as a consequence of the implementation of the Law of the Republic of Indonesia; and/or
   d. has served ¾ (three quarters) of the consequence time limit, and the Principal Party:

1. has no negative records during the period of being declared fail; and
2. is committed to contributing significantly to the strengthening or rescue of the financial services industry, which is realized within the time limit determined by the Financial Services Authority.

3. New evidence, data, and/or information related to the absence, or not submitting clarification or response as referred to in item 2 letter a must include strong and relevant reasons or considerations related to the evidence of absence or not submitting clarification or response, including:
   a. illness that does not allow the party being re-evaluated to function normally; and b. other reasons that cause the party being re-evaluated to be unable to provide clarification or response within the time limit determined by the Financial Services Authority.
4. What is meant by the consequence of the implementation of the Law of the Republic of Indonesia as referred to in item 2 letter c includes, among others, the implementation of Law of the Republic of Indonesia Number 11 of 2016 concerning Tax Amnesty.
5. What is meant by having no negative records as referred to in item 2 letter d item 1) is not committing legal violations with the threat of imprisonment/conviction of more than 1 (one) year, not causing bankruptcy, and/or becoming a shareholder, member of the board of directors, or member of the board of commissioners, or equivalent, who is declared guilty causing a company to be declared bankrupt or have its business license revoked.
6. The commitment to contribute significantly to the strengthening or rescue of the Digital Financial Asset Trading Organizer industry as referred to in item 2 letter d item 2) is stated, among others, in written documents containing action plans with specific timeframes to be realized or the provision of funds in the form of an escrow account.
7. The request for review as referred to in item 1 must be accompanied by documents as follows:
   a. identity documents, at least consisting of:

1. photocopy of electronic identity card;
2. curriculum vitae;
3. latest 4x6 cm photo; and
4. photocopy of tax identification number (NPWP);
   b. photocopy of the final result decision of the re-evaluation of the Principal Party stating that the applicant failed;
   c. evidence documents in accordance with the criteria for the request for review, including:
5. new evidence, data, and/or information related to absence or not submitting clarification or response during the re-evaluation, such as an official letter from the hospital where the applicant was treated;
6. copy of the final and binding court decision stating that the applicant is not proven to have committed a criminal offense or not proven to be declared bankrupt and/or to be a shareholder, member of the board of directors, or member of the board of commissioners, or equivalent, who is declared guilty causing a company to be declared bankrupt or have its business license revoked; and
7. official and valid evidence of the consequence of the implementation of the law;
   d. evidence of having no negative records during the period of being declared fail, including:
8. stamped statement letter stating that the applicant:
   a) is not proven to be declared bankrupt and/or to be a shareholder, member of the board of directors, or member of the board of commissioners, or equivalent, who is declared guilty causing a company to be declared bankrupt or have its business license revoked; and b) has never been sentenced for proven legal violations with a threat of penalty of more than 1 (one) year; and
9. police record certificate; and

8. If necessary, the Financial Services Authority is authorized to request other supporting documents and/or information related to the request for review documents as referred to in item 7.
9. The Financial Services Authority grants approval or rejection of the request for review submitted by the Principal Party determined with the predicate fail based on:
   a. examination of the completeness and truthfulness of documents; b. analysis of the review documents; and
   c. other considerations, such as the impact on the condition of the Digital Financial Asset Trading Organizer both individually and industrially.
10. In the event that based on the analysis results it is known that there is a mismatch of the request for review criteria and/or the submitted documents are incomplete, the Financial Services Authority notifies the applicant that the request for review is rejected.

This copy is in accordance with the original
Director of Legal Development
Legal Department
Aat Windradi

11. The applicant may submit a request for review again if it meets the request for review criteria and/or the documents owned are complete.
12. In the event that the criteria are met, the request for review approved by the Financial Services Authority is carried out with the following steps:
    a. clarification of evidence, data, and/or information to the Principal Party submitting the request for review; b. determination and submission of the preliminary results of the review to the Principal Party submitting the request for review;
    c. response from the Principal Party submitting the request for review to the preliminary results of the review; and
    d. determination and notification of the final results of the review to the Principal Party submitting the request for review.
13. Principal Parties declared to pass in the review process can become Principal Parties through the suitability and propriety assessment process referring to this Financial Services Authority Regulation.

G. DELIVERY ADDRESS

1. Delivery of clarification, statement letters, and/or responses from Principal Parties being evaluated in the re-evaluation process is delivered to:
   Head of the Executive Supervisor for Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets of the Financial Services Authority Up. Head of the Department for Regulation and Licensing of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets Soemitro Djojohadikusumo Building East Banteng Field Street 2-4 Jakarta 10710, Indonesia
2. In the event of a change in the address of the Financial Services Authority office, the delivery address is in accordance with the information provided on the official website of the Financial Services Authority.

Determined in Jakarta on December 19, 2024
HEAD OF EXECUTIVE SUPERVISOR
FOR FINANCIAL SECTOR TECHNOLOGY
INNOVATION, DIGITAL FINANCIAL
ASSETS AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX V
LETTER CIRCULAR OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

BUSINESS PLAN
No. Report

1. Executive Summary
   a. Vision and Mission
   .....
   b. Policy Direction
   .....
   c. Strategic Steps to be Taken
   .....
   d. Key Financial Indicators
   No Objectives Projection Dec T-1 (Rp) Target (Rp) Growth Target (%) a b c = (b-a)/a 1 Total Assets 2 Total Liabilities 3 Total Equity 4 Operational Revenue 5 Operational Expenses 6 Net Profit e. Short-Term Business Activity Targets No Objectives Target Notes 1 Growth in number of consumers*) 2 Target daily transaction value*) 3 Target daily transaction volume*) 4 Vendor provider turnover*) … … … … ) example f. Medium-Term Business Activity Targets No Objectives Target Notes 1 Trading platform development) Q2 2027 ) 2 Business cooperation with third parties) Q2 2026 *) ... … … … *) example additional explanation if needed
2. Management Policies and Strategies
   a. Company Position Analysis in Facing Business Competition
   .....
   b. Management Policies (Policy Statements)
   .....
   c. Risk Management and Compliance Policies
   .....
   d. Business Development Strategy
   .....
   e. Human Resource Development Strategy and Remuneration Policies (Remuneration Policies)
   .....
3. Implementation of current risk management and performance
   a. Implementation of risk management
   No Type of Risk Identified Risks Mitigation Plan for Identified Risks 1 Operational Risk*) error*) IT failure*) … 2 Compliance Risk*) failure to meet regulations*) … … … … *) example

additional explanation if needed, example: plan for developing risk management implementation b. Implementation of Good Corporate Governance
.....
c. Financial Performance, especially from the Capital and Earnings aspects;
.....
4. Financial Statement Projections and Assumptions Used
No Financial Items Actual Sept T-1
Projection
Dec T-1
T
Mar Jun Sept Dec
Note:
Using the balance sheet and income statement template in monthly financial reports
5. Projection of Ratios and Other Specific Items
No Ratio Actual
Sept T-1
Projection
Dec T-1
T
Mar Jun Sept Dec
Capital
1 Total Equity/Rp500 M (for traders)
...
Liquidity
2 Current Ratio = Current Asset / Current Liabilities 3 Cash Ratio = (Cash + Cash Equivalent) / Current Liabilities ...
Leverage
4 Debt Ratio = Total Liabilities / Total Asset ...

Profitability
5 BOPO = Operational Costs / Operational Revenue 6 ROE = Net Profit / Total Equity ...
6. Funding Plan
Filled with the Organizer's funding plan including: bank debt, subordination, and/or shareholder debt
7. Capital Participation Plan
Filled with the capital participation plan at least on:
a. business field; b. estimated amount of funds to be invested; and
c. ownership percentage including control aspects
8. Capital Plan
Filled with the capital change plan
9. Management Change Plan
No Position Name Reason for Change Planned Submission Time 1 … 2 …
10. Plan for organizational, IT, and human resource development
a. Organizational Development Plan
.....
b. Information System and Information Technology Development Plan No Plan Notes Implementation Target Application Development Plan 1 Consumer service application development*) April 2025*) 2 Trading platform enhancement*) Q3 2025*) … … … … Infrastructure Development Plan 1 Firewall replacement*) September 2025*) 2 Storage procurement*) Q4 2025*) 3 Data Center relocation*) Q4 2025*)

… … … …
*) example
c. Human Resource Development Plan
No. Type of Training Target Number of Participants (Persons) Total additional explanation if needed d. Plan for Utilization of Foreign Workers and Use of Outsourcing Labor
.....
11. Plan for Product Issuance and/or New Activities
Filled with the product issuance plan including:
a. plan for trading new products; or b. plan for issuing new products;
c. plan for carrying out new activities.
No New Activity/Product
Plan to be Implemented
Purpose/Benefit
Relevance with Strategy
Trader Description
Potential Risks
Mitigation
For Trader Risks
For Investor Risks
… … … … … … … … …
12. Plan for Office Network Development and/or Changes, Including Cooperation with Marketing Agents
.....
13. Other Information
.....

This copy is in accordance with the original
Director of Legal Development
Legal Department
Aat Windradi
(date/month/year)
Board of Directors Member,
(signature)
...............................
(full name)
Determined in Jakarta on December 19, 2024
HEAD OF EXECUTIVE SUPERVISOR
FOR FINANCIAL SECTOR TECHNOLOGY
INNOVATION, DIGITAL FINANCIAL
ASSETS AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX VI
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE IMPLEMENTATION OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

DAILY REPORTS
A. EXCHANGE DAILY REPORTS
Reporting Period: DD/MM/YYYY
00.00 WIB – 23.59 WIB (24 hours)
Daily Transaction Recapitulation per Trader
No. Trader Code* Trader Name Transaction Value (Rp) Transaction Frequency a b d e … Total … … *Trader Code will be standardized

Daily Recapitulation Report of Transactions per Digital Financial Asset No.
Digital Financial Asset Code
Digital Financial Asset Name
Lowest Price (Rp)
Highest Price (Rp)
Exchange Reference Closing Price (Rp)
Volume (Unit)*
Transaction Value (Rp)
Frequency a b c d e f g h
…
… … … … … … … … …
Total … …

• Volume = number of Digital Financial Assets traded

B. CLEARING AND GUARANTEE SETTLEMENT INSTITUTION DAILY REPORTS Reporting Period: DD/MM/YYYY
00.00 WIB – 23.59 WIB (24 hours)
Daily Consumer Funds Recapitulation Report
No. Trader Code Trader Name
Previous Position Balance (Rp)
Total Deposit Funds (Rp)
Total Withdraw Funds (Rp)
Final Position Balance (Rp) a b c d e f = (c + d) - e Daily Consumer Funds Recapitulation - Session 1 … Total Daily Consumer Funds Recapitulation - Session 2 … Total Total (Session 1 & 2)

C. DIGITAL ASSET STORAGE MANAGER DAILY REPORTS
Reporting Period: DD/MM/YYYY
00.00 WIB – 23.59 WIB (24 hours)
Daily Consumer Digital Financial Assets Recapitulation Report* No.
Trader Code
Trader Name
Digital Financial Asset Name
Digital Financial Asset Code
Quantity (Unit)
Price Per Unit (Rp)
Value (Rp) a b c d e f g = e x f
Daily Consumer Digital Financial Assets Recapitulation - Session 1 2 ….. ….. …..
… … … … ….. ….. …..
39240 … … … ….. ….. …..
Total …..
Daily Consumer Digital Financial Assets Recapitulation - Session 2 2 ….. ….. …..
… … … … ….. ….. …..
39240 … … … ….. ….. …..
Total …..
Total (Session 1 & 2) …..
Note:
*) Recapitulation of all Consumer Digital Financial Asset values

Detailed Report of Digital Financial Assets Placed per Trader) No.
Trader Code
Trader Name
Digital Financial Asset Name
Digital Financial Asset Code
Quantity (Unit)
Price Per Unit (Rp)
Value (Rp) a b c d e f g = e x f
Detailed Digital Financial Assets Placed by
Trader - Session 1
2 ….. ….. …..
… … … … ….. ….. …..
300 … … … ….. ….. …..
Total …..
Detailed Digital Financial Assets Placed by
Trader - Session 2
2 ….. ….. …..
… … … … ….. ….. …..
300 … … … ….. ….. …..
Total …..
Total (Session 1 & 2) …..
Note:
) Digital Financial Assets placed by the Trader to meet the minimum 70% storage obligation

D. TRADER DAILY REPORTS
Reporting Period: DD/MM/YYYY
00.00 WIB – 23.59 WIB (24 hours)
Daily Consumer Funds Balance
Session Previous Position Balance*
(Rp) Total Deposit Funds (Rp) Total Withdraw Funds (Rp) Final Position Balance (Rp) a b c d = (a + b) - c Total … … … *) Previous session, depending on the reporting session

Daily Consumer and Trader Digital Financial Asset Balances and Transactions No.
DFC Code
DFC Name
DFC Quantity (Unit)
Consumer-owned DFC
Trader-owned DFC
Consumer DFC Placed with Trader
Consumer DFC Placed with Storage Manager
Price Per Unit (Rp)
Value (Rp) - Total
Value (Rp) - Consumer-owned DFC
Value (Rp) - Trader-owned DFC
Value (Rp) - Consumer DFC Placed with Trader
Value (Rp) - Consumer DFC Placed with Storage Manager a b c d = f + g e f g h i = c x h j = d x h k = e x h l = f x h m = g x h … Total ... ... ... ... ... ... Note:
DFC : Digital Financial Asset
*) Digital Asset Code will be standardized
) using the reference closing price from the Exchange

Daily Consumer and Trader Digital Financial Asset Transactions No. Description Affiliated Party Non-affiliated Party Foreign Value (Rp) Domestic Value (Rp) Total Value (Rp) a b c d e = a + b + c + d Total Purchase of Digital Financial Assets for Individual Consumers Total Purchase of Digital Financial Assets for Institutional Consumers Total Purchase of Digital Financial Assets for Trader's own account Total Sale of Digital Financial Assets for Individual Consumers Total Sale of Digital Financial Assets for Institutional Consumers Total Sale of Digital Financial Assets for Trader's own account 7 Total On The Counter Transactions

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi
8 Total Over The Counter Transactions

Daily Recapitulation Report of Transactions per Digital Financial Asset No.
Digital Financial Asset Code
Digital Financial Asset Name
Lowest Price (Rp)
Highest Price (Rp)
Transaction Frequency
Volume*
(Unit)
Transaction Value (Rp) a b c d e f g
…
…
Total ...
*Volume = number of Digital Financial Assets traded

Established in Jakarta on 19 December 2024
EXECUTIVE HEAD OF THE SUPERVISOR OF
FINANCIAL SECTOR TECHNOLOGY INNOVATION, DIGITAL FINANCIAL ASSETS AND CRYPTO ASSETS FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX VII
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE IMPLEMENTATION OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

A. EXCHANGE MONTHLY REPORTS
I. Monthly Transaction Recapitulation Report per Digital Financial Asset
No.
Digital Financial Asset Code
Digital Financial Asset Name
Frequency
Volume (Unit)
Transaction Value (Rp) a b c d e
…
... … … … … …
Total
II. Exchange Monthly Financial Report
Balance Sheet Report
Account Name
Position
31 January 20xx (Rp)
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents
Investments
Trade Receivables a. Third parties b. Related parties Other Receivables Shareholdings Prepaid Taxes Advances and Prepaid Expenses Other Current Assets Total Current Assets NON-CURRENT ASSETS Fixed Assets (Accumulated Depreciation and Impairment of Fixed Assets) Net Right-of-Use Assets Intangible Assets (Accumulated Amortization and Impairment of Intangible Assets) Other Non-Current Assets Total Non-Current Assets TOTAL ASSETS LIABILITIES AND EQUITY SHORT-TERM LIABILITIES Bank Payables Short-term Right-of-Use Liabilities Tax Payables

Account Name
Position
31 January 20xx (Rp)
Accrued Expenses
Deferred Revenue
Short-term Bank Payables
Short-term Right-of-Use Liabilities
Short-term Employee Benefit Liabilities
Others
Total Short-term Liabilities
LONG-TERM LIABILITIES
Bank Payables
Long-term Right-of-Use Liabilities
Loans to related parties
Other long-term payables
Total Long-term Liabilities
TOTAL LIABILITIES
EQUITY
Paid-in Capital
Additional Paid-in Capital
Reserves:
a. General Reserve b. Specific Reserve
Previous Period Profit (Loss) Balance
Current Period Profit (Loss)
Other Equity
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
Income Statement
Account Name
Position
31 January 20xx (Rp)
OPERATING REVENUE
Digital Financial Asset Trading Transaction Fees Registration Fee Trader Membership Fees Investment Income Penalty Income Other Income TOTAL OPERATING REVENUE OPERATING EXPENSES Transaction Costs IT and Telecommunication Costs Annual Contribution Expense to OJK

Account Name
Position
31 January 20xx (Rp)
Marketing Costs
Administrative and General Expenses a. Labor Costs
i. Salaries and wages
ii. Honorariums
iii. Others
b. Education and Training Costs
c. Rental Costs
d. Depreciation/Impairment Expense of Fixed Assets and Inventories e. Amortization and Impairment Expense of Intangible Assets f. Insurance Premium Expenses g. Maintenance and Repair Costs h. Goods and Services Costs
i. Taxes
Other Operating Expenses
TOTAL OPERATING EXPENSES
OPERATING PROFIT/LOSS
NON-OPERATING REVENUE
Profit from Asset Sales
Others
Total Non-Operating Revenue
NON-OPERATING EXPENSES
Loss from Asset Sales
Fines/penalties
Others
Total Non-Operating Expenses
NON-OPERATING PROFIT/LOSS
PROFIT/LOSS FOR THE CURRENT YEAR BEFORE TAX
Estimated Income Tax
Deferred Tax (Income) Expense
NET PROFIT/LOSS FOR THE CURRENT YEAR
Cash Flow Statement
Account Name
Position
31 January 20xx (Rp)
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Activity Receipts:
Transactions
Others
Total Receipts
Operating Activity Disbursements:
Employees
Others
Total Disbursements
Net Cash Flows from Operating Activities

CASH FLOWS FROM INVESTING ACTIVITIES
Investing Activity Receipts:
Dividend Receipts
Others
Total Receipts Investing Activity Disbursements:
Investing Activity Disbursements
Purchase of Fixed Assets
Others
Total Disbursements
Net Cash Flows from Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Financing Activity Receipts:
Bank Loans
Others
Total Receipts
Financing Activity Disbursements
Dividend Payments
Others
Total Disbursements
Net Cash Flows from Financing Activities
Net Increase (Decrease) in Cash Flows
Beginning Cash and Cash Equivalents Balance
Ending Cash and Cash Equivalents Balance
B. CLEARING AND GUARANTEE SETTLEMENT INSTITUTION MONTHLY REPORTS
I. Consumer Funds Placement Report per Trader
No.
Trader Code
Trader Name
Bank Name
Account Name
Account Number
Fund Balance (Rp) a b c d e f
...
Total …
II. Clearing and Guarantee Settlement Institution Monthly Financial Report
Balance Sheet Report
Account Name
Position
31 January 20xx (Rp)
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents

Account Name
Position
31 January 20xx (Rp)
Consumer Funds Placed at the Clearing and Guarantee Settlement Institution Investments/Shareholdings Trade Receivables a. Third Parties b. Related Parties Other Receivables Prepaid Taxes Advances and Prepaid Expenses Other Current Assets Total Current Assets NON-CURRENT ASSETS Fixed Assets (Accumulated Depreciation and Impairment of Fixed Assets) Net Right-of-Use Assets Intangible Assets (Accumulated Amortization and Impairment of Intangible Assets) Loans to Related Parties Other Non-Current Assets Total Non-Current Assets TOTAL ASSETS LIABILITIES AND EQUITY SHORT-TERM LIABILITIES Bank Payables Liabilities for Consumer Funds Placed at the Clearing and Guarantee Settlement Institution Trade Payables a. Related b. Third Parties Short-term Right-of-Use Liabilities Tax Payables Other Payables Accrued Expenses Deferred Revenue Short-term Bank Payables Short-term Right-of-Use Liabilities Others Total Short-term Liabilities LONG-TERM LIABILITIES Bank Payables Long-term Right-of-Use Liabilities Other Long-term Payables Total Long-term Liabilities

Account Name
Position
31 January 20xx (Rp)
TOTAL LIABILITIES
EQUITY
Paid-in Capital
Additional Paid-in Capital
Reserves:
a. General Reserve b. Specific Reserve
Previous Period Profit (Loss) Balance
Current Period Profit (Loss)
Other Equity
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
Income Statement
Account Name
Position
31 January 20xx (Rp)
OPERATING REVENUE
Digital Financial Asset Trading Transaction Fees Registration Fee Trader Membership Fees Other Income TOTAL OPERATING REVENUE OPERATING EXPENSES Consumer Fund Storage Service Costs IT and Telecommunication Costs Annual Contribution Expense to OJK Marketing Costs Administrative and General Expenses a. Labor Costs
i. Salaries and wages
ii. Honorariums
iii. Others
b. Education and Training Costs
c. Rental Costs
d. Depreciation/Impairment Expense of Fixed Assets and Inventories e. Amortization and Impairment Expense of Intangible Assets f. Insurance Premium Expenses g. Maintenance and Repair Costs h. Goods and Services Costs
i. Taxes

Account Name
Position
31 January 20xx (Rp)
Other Operating Expenses
TOTAL OPERATING EXPENSES
OPERATING PROFIT/LOSS
NON-OPERATING REVENUE
Interest Income
Profit from Asset Sales
Others
Total Non-Operating Revenue
NON-OPERATING EXPENSES
Loss from Asset Sales
Fines/penalties
Others
Total Non-Operating Expenses
NON-OPERATING PROFIT/LOSS
PROFIT/LOSS FOR THE CURRENT YEAR BEFORE TAX
Estimated Income Tax
Deferred Tax (Income) Expense
NET PROFIT/LOSS FOR THE CURRENT YEAR
Cash Flow Statement
Account Name
Position
31 January 20xx (Rp)
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Activity Receipts:
Transactions
Others
Total Receipts
Operating Activity Disbursements:
Employees
Others
Total Disbursements
Net Cash Flows from Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Investing Activity Receipts:
Dividend Receipts
Others
Total Receipts Investing Activity Disbursements:
Investing Activity Disbursements
Purchase of Fixed Assets
Others
Total Disbursements
Net Cash Flows from Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Financing Activity Receipts:
Bank Loans
Others
Total Receipts
Financing Activity Disbursements
Dividend Payments
Others
Total Disbursements
Net Cash Flows from Financing Activities
Net Increase (Decrease) in Cash Flows
Beginning Cash and Cash Equivalents Balance
Ending Cash and Cash Equivalents Balance
C. DIGITAL ASSET STORAGE MANAGER MONTHLY REPORTS
I. Wallet Management Report
No.
Wallet Address
Used
Provider Name
Network
Key Holder 1
Key Holder 2
Key Holder 3
Name
Position
Name
Position
Name
Position
...
II. Digital Asset Storage Manager Monthly Financial Report
Balance Sheet Report
Account Name
Position
31 January 20xx (Rp)
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents
Consumer Digital Financial Assets Placed in Storage Manager Wallet Investments/Shareholdings Trade Receivables a. Third Parties b. Related Parties Other Receivables Prepaid Taxes Advances and Prepaid Expenses Other Current Assets Total Current Assets NON-CURRENT ASSETS Fixed Assets

Account Name
Position
31 January 20xx (Rp)
(Accumulated Depreciation and Impairment of Fixed Assets) Net Right-of-Use Assets Intangible Assets (Accumulated Amortization and Impairment of Intangible Assets) Loans to Related Parties Other Non-Current Assets Total Non-Current Assets TOTAL ASSETS LIABILITIES AND EQUITY SHORT-TERM LIABILITIES Bank Payables Liabilities for Consumer Digital Financial Assets Placed in Storage Manager Wallet Short-term Right-of-Use Liabilities Tax Payables Other Payables Accrued Expenses Deferred Revenue Short-term Bank Payables Short-term Right-of-Use Liabilities Others Total Short-term Liabilities LONG-TERM LIABILITIES Bank Payables Long-term Right-of-Use Liabilities Other Long-term Payables Total Long-term Liabilities TOTAL LIABILITIES EQUITY Paid-in Capital Additional Paid-in Capital Reserves:
a. General Reserve b. Specific Reserve
Previous Period Profit (Loss) Balance
Current Period Profit (Loss)
Other Equity
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY

Income Statement
Account Name
Position
31 January 20xx (Rp)
OPERATING REVENUE
Storage Manager Service Income
Other Income
TOTAL OPERATING REVENUE
OPERATING EXPENSES
IT and Telecommunication Costs
Annual Contribution Expense to OJK
Marketing Costs
Administrative and General Expenses
A. Labor Costs
I. Salaries and Wages
ii. Honorariums
iii. Others
b. Education and Training Costs
c. Rental Costs
d. Depreciation/Impairment Expense of Fixed Assets and Inventories e. Amortization and Impairment Expense of Intangible Assets f. Insurance Premium Expenses g. Maintenance and Repair Costs h. Goods and Services Costs
i. Taxes
Other Operating Expenses
TOTAL OPERATING EXPENSES
OPERATING PROFIT/LOSS
NON-OPERATING REVENUE
Profit from Asset Sales
Others
Total Non-Operating Revenue
NON-OPERATING EXPENSES
Loss from Asset Sales
Fines/penalties
Others
Total Non-Operating Expenses
NON-OPERATING PROFIT/LOSS
PROFIT/LOSS FOR THE CURRENT YEAR BEFORE TAX
Estimated Income Tax
Deferred Tax (Income) Expense
NET PROFIT/LOSS FOR THE CURRENT YEAR

Cash Flow Statement
Account Name
Position
31 January 20xx (Rp)
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Activity Receipts:
Transactions
Others
Total Receipts
Operating Activity Disbursements:
Employees
Others
Total Disbursements
Net Cash Flows from Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Investing Activity Receipts:
Dividend Receipts
Others
Total Receipts Investing Activity Disbursements:
Investing Activity Disbursements
Purchase of Fixed Assets
Others
Total Disbursements
Net Cash Flows from Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Financing Activity Receipts:
Bank Loans
Others
Total Receipts
Financing Activity Disbursements
Dividend Payments
Others
Total Disbursements
Net Cash Flows from Financing Activities
Net Increase (Decrease) in Cash Flows
Beginning Cash and Cash Equivalents Balance
Ending Cash and Cash Equivalents Balance
D. TRADER MONTHLY REPORTS
I. Monthly Activity Report
No. Description Individual Business Entity Total Indonesian Foreign Domestic International a b c d e f=b+c+d+e 1 Number of Consumers (beginning of month) 2 Number of Consumer Additions 3 Number of Consumer Reductions 4 Number of Consumers (end of month) Note:
WNI : Indonesian Citizens
WNA: Foreign Citizens
II. Recapitulation of Top 20 (Twenty) Consumers Based on Monthly Transaction Value per Trader
No. Identity Type*) Identity No. Name Consumer Category (Foreign/ Domestic) Consumer Type (Individual/ Business Entity) Transaction Value (Rp) A b c d e f .. .. Total … Note:
*) filled with ID card, passport, identity card issued by the country of origin, permanent stay permit card, limited stay permit card, taxpayer identification number (NPWP), or other tax identity according to the country of origin ) including Over The Counter (OTC) transactions
III. Recapitulation of Top 20 (Twenty) Consumers Based on Top Up Fund Value
No. Identity Type
Identity No. Name Consumer Category
(Foreign/
Domestic)
Consumer Type
(Individual/
Business
Entity)
Fund Placement (Top Up) Value (Rp) a b c d e f Total … Note:
*) filled with ID card, passport, identity card issued by the country of origin, permanent stay permit card, limited stay permit card, taxpayer identification number (NPWP), or other tax identity according to the country of origin
IV. Recapitulation of Top 20 (Twenty) Consumers Based on Withdrawal Fund Value
No. Identity Type
Identity No. Name Consumer Category
(Foreign/
Domestic)
Consumer Type
(Individual/
Business
Entity)
Fund Withdrawal Value (Rp) a b c d e f
Total …
Note:
*) filled with ID card, passport, identity card issued by the country of origin, permanent stay permit card, limited stay permit card, taxpayer identification number (NPWP), or other tax identity according to the country of origin
V. Trader Monthly Financial Report
Balance Sheet Report
Account Name
Position
31 January 20xx (Rp)
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents
Trade Receivables a. Third parties b. Related parties Consumer Funds Placed at the Clearing and Guarantee Settlement Institution Consumer Digital Financial Assets Placed in Trader Wallet Consumer Digital Financial Assets Placed in Custodian Wallet Trader Digital Financial Assets Prepaid Taxes Prepaid Expenses Other Current Assets Total Current Assets

Account Name
Position
31 January 20xx (Rp)
NON-CURRENT ASSETS
Fixed Assets
(Accumulated Depreciation and Impairment of Fixed Assets) Net Right-of-Use Assets Intangible Assets (Accumulated Amortization and Impairment of Intangible Assets) Other Non-Current Assets Total Non-Current Assets TOTAL ASSETS LIABILITIES AND EQUITY LIABILITIES SHORT-TERM LIABILITIES Bank Payables Liabilities for Consumer Funds Placed at the Clearing and Guarantee Settlement Institution Liabilities for Consumer Digital Financial Assets Liabilities for Trader Digital Financial Assets Trade Payables Deferred Revenue Short-term Right-of-Use Liabilities Tax Payables Other Short-term Payables Total Short-term Liabilities LONG-TERM LIABILITIES Bank Payables Long-term Right-of-Use Liabilities Other Long-term Payables Total Long-term Liabilities TOTAL LIABILITIES EQUITY Paid-in Capital Additional Paid-in Capital Reserves:
a. General Reserve b. Specific Reserve
Previous Period Profit (Loss) Balance
Current Period Profit (Loss)
Other Equity
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY

Income Statement
Account Name
Position
31 January 20xx (Rp)
OPERATING REVENUE
Trader Commission Income
Storage Manager Service Income
Profit (Loss) from Trader Digital Financial Asset Trading Unrealized Profit (Loss) on Trader Digital Financial Assets Other Operating Income TOTAL OPERATING REVENUE OPERATING EXPENSES Transaction Costs IT and Telecommunication Costs Annual Contribution Expense to OJK Membership Costs a. Exchange b. Clearing and Guarantee Settlement Institution Marketing Costs Administrative and General Expenses A. Labor Costs
i. Salaries and wages
ii. Honorariums
iii. Others
b. Education and Training Costs
c. Rental Costs
d. Depreciation/Impairment Expense of Fixed Assets and Inventories e. Amortization and Impairment Expense of Intangible Assets f. Insurance Premium Expenses g. Maintenance and Repair Costs h. Goods and Services Costs
i. Taxes
Other Operating Expenses
TOTAL OPERATING EXPENSES
OPERATING PROFIT/LOSS
NON-OPERATING REVENUE
Profit from Asset Sales
Others
Total Non-Operating Revenue
NON-OPERATING EXPENSES
Loss from Asset Sales
Fines/Penalties
Others
Total Non-Operating Expenses
NON-OPERATING PROFIT/LOSS
PROFIT/LOSS FOR THE CURRENT YEAR BEFORE TAX

Account Name
Position
31 January 20xx (Rp)
Estimated Income Tax
Deferred Tax (Income) Expense
NET PROFIT/LOSS FOR THE CURRENT YEAR
Cash Flow Statement
Account Name
Position
31 January 20xx (Rp)
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Activity Receipts:
Transactions
Others
Total Receipts
Operating Activity Disbursements:
Employees
Others
Total Disbursements
Net Cash Flows from Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Investing Activity Receipts:
Dividend Receipts
Others
Total Receipts Investing Activity Disbursements:
Investing Activity Disbursements
Purchase of Fixed Assets
Others
Total Disbursements
Net Cash Flows from Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Financing Activity Receipts:
Bank Loans
Others
Total Receipts
Financing Activity Disbursements
Dividend Payments
Others
Total Disbursements
Net Cash Flows from Financing Activities
Net Increase (Decrease) in Cash Flows
Beginning Cash and Cash Equivalents Balance
Ending Cash and Cash Equivalents Balance

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi
Note:
Attached with Notes to Financial Statements
Established in Jakarta on 19 December 2024
EXECUTIVE HEAD
OF THE SUPERVISOR OF TECHNOLOGY INNOVATION
FINANCIAL SECTOR, DIGITAL FINANCIAL ASSETS
AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX VIII
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 CONCERNING THE IMPLEMENTATION OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

A. BUSINESS PLAN REALIZATION REPORT
Explanation Regarding Business Plan Achievement (Quarterly Period .. Year 20..)
No. Target Target Realization Achievement Explanation regarding achievement and/or deviation Quantitative Aspect a b c = (b-a)/a d 1 Consumer growth*) 2 Daily transaction value target*) 3 Daily transaction volume target*) ... Qualitative Aspect 1 Funding achievement*) ) ) ) ) 2 Capital participation achievement*) ) ) ) ) 3 Capitalization achievement*) ) ) ) ) 4 Management change achievement*) ) ) ) ) Achievement of foreign labor utilization and outsourcing labor usage ) ) ) ) ) 6 Human resource development achievement) ) ) ) ) Information Technology system development realization, example: Internet provider vendor change*) ) ) ) ) ... … ) ) ) ) *) example of filling ) filled with narrative

Financial Performance
(Quarterly Period .. Year 20..)
No. Financial Items
Target (Rp)
Quarter I (Mar)
20..
Realization
(Rp)
Quarter
I (Mar)
20..
Achievement
(%)
Explanation regarding achievement and/or deviation a b c = (b-a)/a d 1 Total Assets 2 Total Liabilities 3 Total Equity 4 Total Operating Revenue 5 Total Operating Expenses 6 Operating Profit (Loss) 7 Equity Profit (Loss) FINANCIAL RATIOS Capital 1 Total Equity/Rp500 M (for Traders) ... Liquidity Current Ratio = Current Asset / Current Liabilities Cash Ratio = (Cash + Cash Equivalent) / Current Liabilities ... Leverage 1 Debt Ratio = Total Liabilities / Total Asset ... Profitability

1 BOPO = Operating Expenses / Operating Revenue 2 ROE = Net Profit / Total Equity ...
B. SELF-ASSESSMENT REPORT ON RISK MANAGEMENT
No.
Identification
Source of
Risk
Identification
Type of
Risk
Inherent Risk Rating Risk Management Application Quality Rating Risk Level Rating (1-5) Quality Rating (1-5) Ratio or Measurement Parameter Description Rating (1-5) Description a b c d e f g h
....
Risk Profile Rating (i)
Analysis and Conclusion on Risk Profile Rating Description:
a. Sources of potential loss due to the occurrence of a certain event include:
Credit
Risk
Risk arising from the failure of other parties to meet obligations to the platform or service provider, including credit risk due to borrower failure, credit concentration, counterparty credit risk, and settlement risk.

Market
Risk
Risk affecting balance sheet positions and administrative accounts, including derivative transactions, caused by changes in overall market conditions, such as changes in the volatility of Digital Financial Assets. Liquidity Risk Risk due to the inability of the platform or service provider to meet due obligations, both from cash flow sources and from high-quality liquid assets that can be pledged, without disrupting overall operations or financial conditions. Operational Risk Risk arising from inadequate or non-functional internal processes, human error, system failure, or external events impacting the platform or service provider's operations. Compliance Risk Risk arising from non-compliance or failure of the platform to implement applicable regulations and provisions. AML/CFT PPDPM Risk arising from failure to comply with Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and Prevention of Proliferation Financing of Weapons of Mass Destruction (PPDPM) rules. Legal Risk Risk arising from legal claims or weaknesses in legal aspects that can affect the platform or service provider. Reputational Risk Risk arising from a decline in stakeholder confidence, caused by negative perceptions of the platform or service. Strategic Risk Risk arising from inaccuracies in strategic decision-making or implementation, as well as failure to anticipate changes in the Digital Financial Asset business environment. b. Ratings on a scale of 1-5, with explanations as follows:
1 Low
2 Low to moderate
3 Moderate
4 Moderate to high
5 High
c. explains the ratio or parameter used to measure inherent risk

d. explains the basis for the rating given, including among others the value of the ratio or measurement parameter, the probability of occurrence, and its impact on the Digital Financial Asset Organizer e. Ratings on a scale of 1-5, with explanations as follows:
1 Strong
2 Satisfactory
3 Fair
4 Marginal
5 Unsatisfactory f. explains the quality of risk management application for each risk. Risk management aspects assessed include:

1. Active supervision by the Board of Directors and Board of Commissioners;
2. Adequacy of Risk Management policies and procedures as well as the establishment of Risk limits;
3. Adequacy of the risk identification, measurement, monitoring, and control processes as well as the Risk Management information system; and
4. Comprehensive internal control system.
   g.
   Risk Level Rating is determined by considering the inherent risk rating and the risk management quality rating.
   Ratings on a scale of 1-5, with explanations as follows:
   1 Low
   2 Low to moderate
   3 Moderate
   4 Moderate to high
   5 High h.
   Risk Profile Rating is determined by considering the risk level ratings for all identified risk sources.
   Ratings on a scale of 1-5, with explanations as follows:
   1 Low
   2 Low to moderate

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi
3 Moderate
4 Moderate to high
5 High
Established in Jakarta on December 19, 2024
EXECUTIVE HEAD OF SUPERVISOR
OF FINANCIAL SECTOR TECHNOLOGY INNOVATION,
DIGITAL FINANCIAL ASSETS
AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX IX
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 REGARDING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

A. ANNUAL ACTIVITY REPORT OF DIGITAL FINANCIAL ASSET ORGANIZERS Annual Activity Report No. Report

1. Summary of Key Financial Data
   contains a summary of key financial data, at least including operating revenue and expenses, non-operating revenue and expenses, profit before Income Tax (PPh), estimated PPh and net profit
2. Board of Commissioners Report
   .....
3. Board of Directors Report
   .....
4. Trader Profile
   a.Vision
   .....
   b.Mission
   .....
   c. Shareholders
   No.
   Name
   Shareholder*)
   Type of Shareholder
   (Institution/Individual)
   Nationality of Shareholder
   Controller
   (Yes/ No)
   Number of Shares
   Total
   Ownership
   (Sheets)
   Nominal (Rp) %

…
*) filled with the 10 largest Shareholders and the rest filled with others if the Trader has more than 10 (ten) Shareholders d. Organizational Structure
.....
e. Management
No. Name Nationality Position
Start
Date of Appointment
End
Date of Appointment
Domicile
OJK
Approval Letter
Appointment Deed
Number
Letter
Date
Letter
Number
Deed
Date
Deed a b c d e f g h i j
Board of Commissioners
…
Board of Directors
… f. Details of Executive Officers
No. Name Position of Executive Officer
…

Description:
Executive Officers are Executive Officers are officials who are directly responsible to the Board of Directors or have significant influence over the Trader's policies and/or operations, including division heads, heads of risk management units, heads of compliance units, and heads of internal audit units and/or equivalent officials. g. Statistics on Number of Employees and Competency Development Data

1. Number of Employees Based on Employment Status
   No. Employment Status 202x 202x-1
   Permanent Employees
   Contract Employees
   Total
2. Competency Development Data
   No. Type of Training Number of Participants (People) 202x 202x-1 Total h. Member List (specifically for Exchanges and Guarantee and Settlement Clearing Institutions) No. PT Name Platform Name Number of Approval Letter Date of Approval …

5. Summary of Important Events
   explains important events in the current year, such as approval as a Trader, registration as an Exchange member, IPO, etc.

6. Management Discussion and Analysis
   explains Analysis and discussion on the review of financial performance, targets and achievement of business plans, etc.

7. Information on Governance Implementation

8. Implementation of Board of Directors Duties
   …

9. Implementation of Board of Commissioners Duties
   …

10. Handling of Conflicts of Interest
    …

11. Implementation of Internal Control, Compliance and Risk Management
    …

12. Information on Risk Management Implementation
    a. Active Supervision by Board of Directors and Board of Commissioners … b. Adequacy of Risk Management Policies and Procedures as well as Risk Limit Establishment …
    c. Adequacy of Risk Identification, Measurement, Monitoring, and Control Processes as well as Risk Management Information Systems
    … d. Comprehensive Internal Control System
    …

13. AML/CFT PPDPM Implementation Report
    a. Active Supervision by Directors and Commissioners b. Policies and Procedures …
    c. Internal Control
    … d. Management Information Systems

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi
… e. Human Resources and Training
…
10 Audited Financial Reports
Consists of: Statement of Financial Position, Statement of Profit or Loss, Statement of Cash Flows, Statement of Changes in Equity, and Notes To the Financial Statements Established in Jakarta on December 19, 2024 EXECUTIVE HEAD OF SUPERVISOR OF FINANCIAL SECTOR TECHNOLOGY INNOVATION, DIGITAL FINANCIAL ASSETS AND CRYPTO ASSETS FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX X
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 REGARDING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi
INCIDENTAL REPORT FORMAT
INCIDENTAL REPORT RELATED TO …....................
To
The Executive Head of Supervisor of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets u.p. Head of the Department of Regulation and Licensing of Financial Sector Technology Innovation Digital Financial Assets and Crypto Assets Hereby we:
Company Name : .........................................................................
Company Address : .........................................................................
City .................................................................
Province ............................................................
Postal Code ...........................................................
Website Address : ………………………………………………………………
Company
Company Address : ………………………………………………………………
Company Email : ……………………………….……………………………..
submit reporting on an incidental event in the form of ….............
Attached herewith we submit documents consisting of:

1. brief description of the incidental event; and
2. supporting documents.
   Thus our report. For your attention Sir/Madam*), we express our gratitude
   .....,................ 20.....
   Sincerely,
   Board of Directors of PT ……..
   Stamp Duty
   Rp.10.000,-
   ......................................
   (Clear Name and Signature)
   *) Strike out what is not needed
   Established in Jakarta on December 19, 2024
   EXECUTIVE HEAD OF SUPERVISOR
   OF FINANCIAL SECTOR TECHNOLOGY INNOVATION,
   DIGITAL FINANCIAL ASSETS
   AND CRYPTO ASSETS
   FINANCIAL SERVICES AUTHORITY
   REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed

APPENDIX XI
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 20/SEOJK.07/2024 REGARDING THE CONDUCT OF DIGITAL FINANCIAL ASSET TRADING INCLUDING CRYPTO ASSETS

A. FORMAT FOR REQUEST LETTER FOR USER ID AND
PASSWORD OF THE FINANCIAL SERVICES AUTHORITY REPORTING SYSTEM COMPANY LETTERHEAD Number :
Date :
Attachment :
Subject : Request for User ID and Password
(Password) of the Financial Services Authority Reporting System To The Financial Services Authority u.p. Director of Data Reporting Department of Data and Statistics Management Menara Radius Prawiro floor 14, Bank Indonesia Office Complex, Jl. MH Thamrin No.2 Central Jakarta 10350 Referring to Financial Services Authority Circular Letter Number … regarding The Conduct of Digital Financial Asset Trading including Crypto Assets, hereby we on behalf of:
Company : …………………………………………………………. request to obtain user ID (user ID) and password (password) for the submission of Digital Financial Asset Trading Organizer Reporting as follows:
Name of Preparing Officer : ………………………………………………………….
Position : ………………………………………………………….
Email : ………………………………………………………….
Telephone : ………………………………………………………….
Taxpayer Identification Number (NPWP) : ………………………………………………………….
Thus this request is submitted. For your attention Sir/Madam, we express our gratitude.
Sincerely,
Board of Directors Member
( )

B. FORMAT FOR REQUEST LETTER FOR CHANGES TO THE FINANCIAL SERVICES AUTHORITY REPORTING SYSTEM ACCESS COMPANY LETTERHEAD Number :
Date :
Attachment :
Subject : Request for Changes to the Financial Services Authority Reporting System Access To The Financial Services Authority u.p. Director of Governance and Data Development Department of Data and Statistics Management Menara Radius Prawiro Floor 14, Bank Indonesia Office Complex JL. MH Thamrin No. 2, Central Jakarta, 10350 Referring to Financial Services Authority Circular Letter Number … regarding Mechanism for the Conduct of Digital Financial Asset Trading including Crypto Assets, hereby we on behalf of:
Company : …………………………………………………………. request to:

1. change of board of directors members responsible for notification of Crypto Asset trading, results of evaluation of crypto assets in the crypto asset list, Digital Financial Asset Trading Organizer Business Plan, as well as Periodic Reports and Incidental Reports; and/or
2. change of preparing officers for notification of Crypto Asset trading,
   results of evaluation of crypto assets in the crypto asset list, Digital Financial Asset Trading Organizer Business Plan as well as Periodic Reports and Incidental Reports, with the following changes:
   Position Description Before After
   Board of Directors Member
   Responsible Party
   Name
   Position at
   Digital Financial Asset Trading Organizer
   Email
   Telephone
   Preparing Officer
   Name
   Position at
   Digital Financial Asset Trading Organizer
   Email
   Telephone

This copy is consistent with the original
Director of Legal Development
Legal Department
Aat Windradi
Digital Financial Asset Trading
Email
Telephone
Thus this request is submitted. For your attention Sir/Madam, we express our gratitude.
Sincerely,
Board of Directors Member
( )
Established in Jakarta on December 19, 2024
EXECUTIVE HEAD
OF SUPERVISOR OF
FINANCIAL SECTOR TECHNOLOGY
INNOVATION, DIGITAL FINANCIAL ASSETS
AND CRYPTO ASSETS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

HASAN FAWZI signed signed