Satgas PASTI Halts YWWSDC and RTHAE Over Alleged Illegal Investments

The Financial Services Authority’s Illegal Financial Activities Task Force (Satgas PASTI) has halted the activities of YWWSDC and RTHAE after discovering several indications of violations regarding the offering of crypto-assets and digital financial assets to the public.

Both entities were found to lack the necessary permits from the OJK to operate as Digital Financial Asset Traders (PAKD). They had been claiming to be companies licensed abroad and were purportedly in the process of obtaining OJK licences.

Hudiyanto, representing the Satgas PASTI Secretariat, issued an official statement in Jakarta on Tuesday, urging the public to remain cautious of investment offers that claim to represent foreign companies or assert they are currently processing OJK licences.

“The public is also requested to always verify the legality of parties offering investments and to understand the characteristics, benefits, and risks of the products being offered,” said Hudiyanto.

YWWSDC offered investment schemes involving crypto-asset trading and the purchase of digital financial asset tokens through the YWWSDC platform.

Based on clarification and verification results, Satgas PASTI found that YWWSDC does not possess an OJK permit as a Digital Financial Asset Trader and is conducting business activities that do not align with the permits issued by the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM).

Furthermore, the applications and/or websites used by these entities are not registered as Electronic System Providers (PSE) with the Ministry of Communication and Digital.