Deputy Minister of Trade Encourages Young Generation to be Literate on Crypto Investment

Crypto business actor, Nanda Rizal monitors graphs of the development of the value of crypto assets, Bitcoin in Malang, East Java, Saturday (12/3/2022). The crypto business actor said that the potential for crypto asset trading was very broad because apart from being designated as a legal commodity by the Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Trade (Kemendag), this business also has a market potential that continues to grow, especially among young entrepreneurs or young people. millennials, JAKARTA — Deputy Trade Minister Jerry Sambuaga encourages the younger generation to be investment literate. Increasingly diverse investment instruments can be an option for the younger generation to start managing their finances.

Jerry gave an example, for example trading crypto assets. He said, currently it is one of the investment instruments that attracts young people. The government, said Jerry, fully supports this development and guarantees legal protection.

“Trading in crypto assets is one of the investment options that has recently been in great demand by the public, especially among young people or millennials. Based on data from the Ministry of Trade, more than half of crypto asset customers in Indonesia are in the age range of 18-35 years,” said Jerry in a press release, Friday (7/4/2023).

Jerry added, the growth in transaction value and the number of crypto asset customers in Indonesia was extraordinary. The transaction value in 2022 touched Rp. 306.4 trillion, although it decreased by more than 50 percent compared to 2021.

The value of this transaction deserves attention because the value reaches hundreds of trillions of rupiah. Meanwhile, this year, up to February, the number of transactions amounted to IDR 25.9 trillion.

“The decline in the value of this transaction has not discouraged customers from investing. It is recorded that the number of registered subscribers as of February 2023 has reached 17 million registered subscribers,” said Jerry.

The government’s commitment to protecting the community has been realized by the Government and the DPR having passed the Financial Sector Development and Strengthening Law (UU P2SK). Through this law, in the future the regulation and authority to supervise and guide the Physical Trading of Crypto Assets will shift from the Ministry of Trade to the Financial Services Authority (OJK).

This shift in oversight of crypto assets and financial derivative products is a manifestation of government policy making forward looking, these two industries intersect with the financial sector. It is hoped that this shift in supervision will provide space for better regulation and risk management, especially in relation to the fiscal sector which will later have an impact on the stability of the financial system in Indonesia.

“Finally, the Ministry of Trade invites all students and other young people to collaborate in providing input and breakthroughs to improve protection for the wider community in the most effective and efficient way,” concluded Jerry.


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