The Commodity Futures Trading Regulatory Agency is an Indonesian government institution under the Ministry of Trade that supervises and regulates commodity futures trading, derivatives, and cryptocurrency activities. Here is a complete explanation:
📌 1. Legal Basis and Position
- Established based on Law No. 32 of 1997 concerning Commodity Futures Trading.
- Under the Ministry of Trade and directly responsible to it.
⚙️ 2. Main Functions
Bappebti has five core roles:
- Regulation & Regulation: Establishing rules for futures trading, including derivative contracts and cryptocurrencies.
- Licensing: Issuing licenses for futures exchanges, brokers, clearing institutions, and cryptocurrency traders (e.g., licenses for platforms like Indodax).
- Supervision: Monitoring compliance of market participants and preventing manipulation or fraud.
- Public Education: Providing outreach on investment risks in the futures and cryptocurrency markets.
- Law Enforcement: Investigating violations and imposing sanctions (fines, revocation of licenses).
🏢 3. Organizational Structure
Bappebti is led by the Head of the Agency (since 2024 held by Dr. Ir. Kasan, M.M.). Its work units include:
- Secretariat of the Agency
- Regulation and Enforcement Bureau
- Futures Trading Supervision Bureau
- Warehouse Receipt System Development Bureau
- Cryptocurrency Committee (established January 2024 for cryptocurrency oversight).
🛡️ 4. Strategic Roles
- Investor Protection: Ensuring market transparency and protecting customer funds through segregated accounts.
- Market Development: Encouraging innovations in futures products that meet market needs, including sharia derivatives.
- Cryptocurrency Supervision: Regulating 383 cryptocurrencies that are legally traded in Indonesia (as of 2023).
🔄 5. Differences with OJK
Although both supervise the financial sector, Bappebti and OJK have different focuses:
-Bappebti
Supervision Objects: Futures trading (forex, commodities, gold, cryptocurrency)
Special Products: Derivative contracts, warehouse receipts, auction markets
Legal Basis: Law No. 32/1997
- OJK
Supervision Objects: Financial services sector (banking, capital markets, insurance)
Special Products: Stocks, mutual funds, bonds, fintech
Legal Basis: Law No. 21/2011
⚠️ Note: Oversight of cryptocurrency will shift to OJK after the enactment of the PPSK Law (2023), but is currently still under Bappebti.
💡 The Importance of Bappebti
This institution ensures the security of futures market transactions and protects the public from illegal investments.$TKO #CyptoRegulation
