What is CoFTRA
The CoFTRA is owned by the government under the Ministry of Trade of the Republic of Indonesia. It has the task of supervising commodity futures trading.
Not only supervising, but also regulating futures asset trading. The legal basis that supports it is Law No. 32 of 1997 concerning commodity futures trading.
CoFTRA will focus on monitoring and regulating all activities of futures trading. For example, non-financial primary products such as mining and energy products. It also regulates non-primary financial products such as bonds, foreign exchange, interest and crypto assets.
Platform Assets Crypto in CoFTRA
There are at least 13 platform assets crypto CoFTRA that you must know, they are:
● PT Indodax Nasional Indonesia
● PT Crypto Indonesia Berkat
● PT Zipmex Exchange Indonesia
● PT Indonesia Digital Exchange
● PT Pintu Kemana Saja
● PT Luno Indonesia
● PT Cita Coin Digital
● PT Tiga Inti Utama
● PT Unbit Exchange Indonesia
● PT Bursa Cripto Prima
● PT Rekeningku Dotcom Indonesia
● PT Triniti Investama Berkat
● PT Plutonext Digital Aset
There is a risk if you choose to use an unlicensed platform. Communities will be vulnerable to losses. For example, the issue of liability from the company when there is a problem.
When using an exchange platform for trading crypto assets, it is undeniable that there will be no legal protection. When problems occur and harm asset holders, it is difficult to get what is rightfully theirs.
Crypto asset companies that do not have a license will not be able to monitor where funds are flowing, as well as their data. So that the protection of consumers will also be constrained and even threatened that it cannot be enforced.
Choosing a crypto asset platform at CoFTRA will minimize the risk of losing assets that are a threat. Therefore, before choosing to invest in crypto assets, it is mandatory to check whether the company is registered or not. So that later you will get legal protection from the government.