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Indonesia stops issuing registration for crypto exchange traders

By Carine Lee

01:55, 24 August 2022

Jakarta at dusk
The Southeast Asia country aims to protect the interests of all parties in crypto trading – Photo: Shutterstock

Indonesia’s Commodity Futures Trading Regulatory Agency (CoFTRA) has officially stopped issuing registrations for crypto exchange traders.

It was stated in Circular Letter Number 208/CoFTRA/SE/08/2022 on Termination of Issuing Permits for Registration of Candidates for Physical Traders of Crypto Assets.

The circular stated that registration for physical trading business actors of crypto assets has been stopped, in other words, CoFTRA no longer accepts applications for prospective physical traders of crypto assets.

Zipmex, one of the 25 crypto exchanges that are permitted to trade in Indonesia, trades cryptocurrencies such as BTC, BCH, XRP, ETH, LTC.

XRP to US dollar

“The issuance of registration permits as a candidate for a Physical Crypto Asset Trader has been suspended and CoFTRA does not accept the submission of an application as a prospective Crypto Asset Physical Trader,” said the circular.

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Efficient and effective trading activities

The circular, signed by the acting head of CoFTRA Didid Noordiatmoko dated August 15, explained the termination of the issuance of permits was aimed at creating transparent, efficient and effective crypto exchange trading activities, as well as protecting the interests of all parties.


0.60 Price
+3.190% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168


66,743.50 Price
-0.450% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00


171.52 Price
+0.660% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652


3,512.09 Price
+0.070% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

Tirta Karma Senjaya, head of CoFTRA's Market Development and Development Bureau, said the half is to ensure crypto traders are fully prepared and able to meet a number of requirements.

“CoFTRA needs to ensure that registered traders are ready in terms of IT systems, capital and human resources, as well as comply with regulatory requirements that will ensure the security of transactions, funds, and wallets of their customers,” according to a local news report.

There is no explanation regarding what happened to the exchanges that are not registered with CoFTRA, whether the platform can still operate or its access is blocked in Indonesia. It is not yet known how long the suspension will last.

Last week, CoFTRA announced the tokens and crypto exchanges listed. The list contains 383 crypto assets and 25 crypto exchanges that are legal to use.

The list, however, does not contain the names of the crypto exchange giants, namely Binance and Coinbase.

Markets in this article

Bitcoin Cash / USD
392.25 USD
-3.55 -0.900%
Bitcoin / USD
66743.50 USD
-301.8 -0.450%
Ethereum / USD
3512.09 USD
2.4 +0.070%
Litecoin / USD
73.50 USD
0.01 +0.010%
Ripple / USD
0.59693 USD
0.0183 +3.190%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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