GenpOp.id -- In a recent address, Indonesian Trade Minister Zulkifli Hasan has sounded a note of caution regarding the surging popularity of cryptocurrencies. He stressed the importance of education and awareness in ensuring the public's understanding and vigilance in cryptocurrency trading.

Speaking in Jakarta on February 2, 2023, as reported by Republika.co.id, Zulkifli Hasan underscored the necessity for individuals to seek comprehensive information about cryptocurrencies, given the allure of quick profits and rapid fame in today's society.

Highlighting the significant risks associated with cryptocurrency trading, Zulkifli Hasan expressed concern over the rapid fluctuations in transaction values.

According to the Commodity Futures Trading Regulatory Agency (Bappebti), cryptocurrency transactions in 2022 amounted to Rp 306.4 trillion, representing a notable decrease from the previous year's Rp 858.76 trillion.

Zulkifli Hasan emphasized that these fluctuations pose a considerable risk, especially for investors lacking a thorough understanding of cryptocurrencies.

He acknowledged the regulatory efforts aimed at mitigating these risks, including a temporary halt on the issuance of registration permits for physical cryptocurrency traders and exchanges imposed by the Ministry of Trade (Kemendag) through Bappebti last year.

The suspension of permit issuance aims to promote transparency, efficiency, and effectiveness in the physical cryptocurrency market. Presently, there are 25 companies registered as Cryptocurrency Asset Trader Candidates with Bappebti.

Looking ahead, the Ministry of Trade and Bappebti are gearing up to launch a cryptocurrency exchange, anticipated to be operational before June 2023.

However, Zulkifli Hasan cautioned against rushing the process, noting that only five out of the 25 companies with permits are currently active. Rushing the launch may result in unpreparedness and increased risks for investors.

As Indonesia navigates the evolving landscape of cryptocurrency regulation and adoption, Zulkifli Hasan's emphasis on caution and education serves as a reminder of the importance of informed decision-making in cryptocurrency trading. []