Investment Alert Task Force Asked to Revoke Decision on Crypto Asset Delisting

Reporter: Novice Laoli | Editor: Novice Laoli

KONTAN.CO.ID – JAKARTA. Executive Director of the National Political Studies (KPN) Adib Miftahul questioned the decision of the Investment Alert Task Force (SWI) to include the crypto asset VidyCoin in the investment list considered illegal. The reason is, the decision makes the Indodax digital asset trading platform now in a deletion status.

In fact, according to Adib, during the pandemic, crypto assets are becoming an investment choice for the lower class in the world. The attention of the world community is quite large because the value of the digital currency continues to increase.

Even one of the crypto assets, VidyCoin, has shown its performance quite smoothly because it has penetrated the hundreds of millions of rupiah per chip.

“It is very unfortunate that the Investment Alert Task Force (SWI) has included the VidyCoin crypto asset in the investment list that is considered illegal. Because of this policy, the Indodax digital asset trading platform is deleting,” said Adib, in his statement, Sunday (17/04).

Also Read: Illegal Investments Are Increasing, SWI: Don’t Be Careless to Check Permits

The man who is also a lecturer reminded that in accordance with the provisions of the legislation, crypto asset products belonging to Vidy Foundation Ltd which are traded through Indodax are Market Places that have been officially registered with the Commodity Futures Trading Supervisory Agency (CoFTRA).

According to Adib, with the issuance of CoFTRA Regulation Number 7 of 2020 concerning the Establishment of a List of Crypto Assets that can be traded in the Crypto Asset Physical Market, VidyCoin’s Crypto asset product is legal.

“So, SWI issued a decision to stop the offer or sale of Vidy Coin products with letter Number: S-546/SWI/2021 dated November 23, 2021, which I consider to be misdirected and unfounded,” he regretted.

In response to information regarding the sale of the VidyCoin crypto asset product which was carried out online, multilevel marketing (MLM), Adib considered it an unwarranted speculation.

“Therefore, in the interest of the community, I ask SWI to immediately revoke the decision to include Vidy’s products in the list of products deemed illegal,” he pleaded.

Adib’s request was conveyed considering the high interest of the lower class to invest in Crypto, which basically must receive protection from the government. In this way, the lower class of society who become investors will receive security guarantees and legal certainty.

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Adib sees that the delisting of crypto asset products has caused huge losses for investors. Especially investors from the grassroots who have purchased VidyCoin’s crypto asset products on Indonesian marketplace platforms such as Indodax and other exchanges abroad.

For this reason, Adib views that it is time for all relevant parties to consider the negative impact on the lower class by looking at this issue wisely. Because it is more important than that, SWI’s decision to include crypto assets in this delisting is not accompanied by evidence of clear violations committed by VidyCoin.

“From this case, I remind you that every policy taken must remain in the spirit and purpose of providing protection for the public in investing,” he said.