In his opinion, crypto assets are among the instruments that continue to grow and also bring many opportunities and challenges.
“It must be settled in a global political standard,” Sri Mulyani said on Tuesday (18/07/2023) on her personal social media account.
Currently, the State Treasurer continued, the rules or regulations governing crypto assets vary by jurisdiction in each country.
For this reason, at the Fourth Meeting of Finance Ministers and Central Bank Governors (FMCBG) of India's G20 Presidency, Sri Mulyani urged the need for global standards in the regulation and supervision of crypto assets that follow the principle of equal activity, equal risk, equal regulation.
During the meeting, the finance minister also shared experiences on the same principles applied in reforming the financial sector in Indonesia.
Namely, through the Financial Sector Development and Strengthening Act (UU P2SK).
The regulation aims to anticipate future risks and protect consumers/investors.
It is hoped that the P2SK law will improve coordination and strengthen the role of relevant ministries and institutions in regulating the implementation of crypto asset trading.
Furthermore, Sri Mulyani continued, in line with the Bali fintech agenda, this crypto asset policy standard must be able to increase consumer protections without halting technological innovation.
“I am sure that the existence of global standards will address various challenges related to digital assets such as consumer protection, money laundering, terrorist financing and market manipulation,” said Sri Mulyani.
“Furthermore, the existence of equal standards between countries will increase transparency and accountability in the crypto industry to boost trust from its users,” he concluded.
Source: Tribunnews.com / Ismoyo
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