The Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade (Kemendag) said there are three criteria for crypto assets that can be traded domestically.
This is stated in CoFTRA Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Crypto Asset Physical Market Trading on the Futures Exchange. This rule was set on October 29, 2021 ago.
Article 3 Paragraph 1 explains that crypto assets must be traded in accordance with the mechanism regulated by CoFTRA. There are several criteria for crypto assets to be traded domestically.
First, it must be based on distributed ledger technology. Second, in the form of utility crypto assets or crypto backed assets.
Third, it has the results of an assessment using the analytical hierarchy process (AHP) method that has been determined by CoFTRA.
The results of the assessment using the AHP method must also consider several things, namely the market capitalization value (market cap) of crypto assets, entering crypto asset exchange transactions in the world, having economic benefits such as taxation to growing the digital economy, and a risk assessment has been determined.