{
    "success": true,
    "data": {
        "id": 1844031,
        "msgid": "uup2sk-seen-as-momentum-to-strengthen-national-crypto-ecosystem-1783353107",
        "date": "2026-07-06 22:00:00",
        "title": "UUP2SK Seen as Momentum to Strengthen National Crypto Ecosystem",
        "author": "Satria K Yudha",
        "source": "REPUBLIKA",
        "tags": "",
        "topic": "Finance",
        "summary": "The newly enacted Financial Sector Development and Strengthening Law (UUP2SK) is viewed by industry players as a pivotal opportunity to enhance the competitiveness of Indonesia's crypto asset industry. Key figures are calling for derivative regulations that ensure a level playing field and maximise domestic economic benefits. Proposals include mandating the rupiah as the primary quote currency and clarifying the distinct roles of exchanges and traders.",
        "content": "<p>The ratification of Law Number 4 of 2026 on Financial Sector\nDevelopment and Strengthening (UUP2SK) is considered a momentum to\nstrengthen the competitiveness of the crypto asset industry in\nIndonesia. Industry players hope its derivative rules can create fair\ncompetition while ensuring that more of the industry\u2019s economic benefits\nare enjoyed domestically. Indodax CEO William Sutanto stated that\nIndonesia\u2019s crypto asset industry has been developing for more than a\ndecade. Therefore, the focus of industry development is no longer on\nbuilding the market, but on ensuring the economic value generated can\ncontribute more significantly to the national economy. \u201cIndonesia has a\nlarge crypto asset market and an ecosystem that has been developing for\nmore than a decade. Therefore, regulatory discussions are not only about\ncompliance, but also about how to ensure the economic benefits of this\nindustry can continue to grow and be felt domestically,\u201d William said on\nMonday (6\/7\/2026). William said the presence of global crypto exchanges\nis a dynamic that can drive industry innovation and efficiency. However,\naccording to him, all players serving users in Indonesia should ideally\nbe under the same regulatory framework to create healthy competition.\n\u201cWe support competitiveness, both at the national and global levels. The\nhope is for a level playing field, so that all players serving users in\nIndonesia can operate within a fair and balanced regulatory framework,\u201d\nhe stated. William also assessed that strengthening the rupiah\u2019s\nposition as a quote currency in crypto asset transactions is important\nfor building the domestic ecosystem. \u201cThe national order book should use\nthe rupiah as the quote currency, so that strengthening the crypto asset\necosystem can go hand in hand with strengthening national economic\nvalue,\u201d he said. Furthermore, William hopes the implementation of\nUUP2SK\u2019s technical rules will provide certainty regarding the division\nof functions between the Exchange and Crypto Asset Traders (PAKD).\nAccording to him, clarity of roles is necessary so that each party can\ncarry out its functions according to the provisions. William also\ncautioned that transaction fees on the exchange should not increase as\nthis could burden market participants. \u201cThe Exchange should not replace\nthe role of traders in serving consumers directly. Also, the Exchange\nmust not arbitrarily raise exchange fees because it could suppress\ntransaction volume,\u201d William said. He hopes the drafting of UUP2SK\u2019s\nderivative regulations can accommodate the fast-moving characteristics\nof the crypto asset industry while enhancing consumer protection and the\ncompetitiveness of national business players.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/uup2sk-seen-as-momentum-to-strengthen-national-crypto-ecosystem-1783353107",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}