Blockchain
Crypto Assets Enter the PPSK Bill. What are the Implications and Influences for Industry’s Stability?
The Draft Law on the Development and Strengthening of the Financial Sector (RUU PPSK) which is being formulated by Commission XI of the DPR RI aims to create sustainable inclusive and positive economic growth. The PPSK Bill is designed in the Omnibus Law concept which integrates around 16 laws in the financial sector. Crypto assets are proposed to be one of the sectors included in the PPSK Bill as part of the financial sector technological innovation (ITSK). With its development, crypto assets are considered worthy of being one of the future investment instruments. This was also conveyed by Binance CEO Changpeng Zhao at the B20 Summit in Bali, Zhao said “for now 99% of a person’s wealth is still in the form of fiat currency or still using the traditional financial system. However, in the longer term predictions, DeFi and crypto could potentially replace fiat or traditional currencies.” Zhao also sees that “more and more people will migrate to crypto, because in the future about 20 – 30 years it will be much easier to make transactions in the crypto business”. This means that in the future crypto assets will have an important role in helping to improve the global economy.
The regulation and supervision of crypto asset trading are currently regulated by the Commodity Futures Trading Supervisory Agency (Bappebti) so later this will have implications for the regulation and supervision of crypto assets by the Financial Services Authority (OJK) and Bank Indonesia (BI). Meanwhile, in various countries, the regulatory position of crypto assets is classified differently so this should be taken into consideration by the Indonesian government in positioning crypto assets in Indonesia as commodities or financial services/products. For example in Singapore, crypto is not considered a legal means of payment but a digital asset by implementing clear, measurable, and structured regulations in providing legality so that all movements are under government supervision and the safety of consumers is also guaranteed. Similarly in Indonesia, crypto in America is generally considered a commodity. However, several other countries, such as Japan and Australia, consider crypto as property. Meanwhile, in Canada and South Africa, crypto enters the financial sector and is classified into financial products.
Affan Giffari, Managing Partner of Trifida at Law who is also a partner of the Indonesian Blockchain Association (A-B-I), expressed his opinion from a legal perspective. According to him, this “will result in a shift in law which means implications for regulating the crypto industry if the authority that oversees crypto is the OJK so that all stakeholders must prepare themselves to face the new regime and the government needs to consider legal certainty. For business actors so that later they can offer better products varied and competitive to consumers.”
From the business actor’s point of view, Resna Raniadi, Upbit’s Vice President of Operations also responded to this “Basically, by entering crypto assets into the PPSK Bill, the government wants the best for the industry, both for smooth business processes for business actors and for consumer protection. However, what must be emphasized in going forward is that there are no overlapping regulations or communication between government agencies because this ecosystem is still in its infancy so it would be better if the regulations could be made as simple as possible.
Oscar Darmawan, CEO of Indodax believes that the government will study the PPSK Bill very carefully so that later there will be harmonization of laws and regulations that can accommodate the industry’s needs, “the positive side is that it can make industries engaged in crypto not only considered as commodities but as financial institutions that regulated by the OJK,” which can support the development of innovation as long as these regulations can make the crypto ecosystem in Indonesia better and can protect consumers.
Duwi Sudarto Putra, as Co-Founder & COO of digitalexchange.id hopes that “a monitoring system such as preventing data leaks, increasing financial literacy for investors to the authority to eradicate fraudulent practices under the guise of investment, especially in the crypto industry and all related institutions/authorities in the future must be actively coordinated to provide the best decision for the future of the crypto industry and its consumers in Indonesia.”
A-B-I representing the crypto asset industry players also provided several written inputs to the Indonesian Ministry of Law and Human Rights regarding the PPSK Bill and the Ministry of Finance. Given the nature of crypto assets which basically cover trade and financial aspects, the involvement of various stakeholders including the crypto asset industry is needed in the process of drafting the PPSK Law which broadens the scope of ITSK in Article 202 letter h and expands the financial services sector which is under the authority of the Financial Services Authority (OJK) on Crypto Assets that have risk characteristics as stated in the Elucidation of Part Four of Article 5 letter concerning Amendments to Law Number 21 of 2011. Asih Karnengsih, A-B-I’s Chairwoman said, “So far A-B-I has made a lot of efforts to involve crypto asset industry players in discussions on the Bill PPSK, one of which was in the Public Consultation on the PPSK Bill held by the Ministry of Finance and submission of several proposals to the relevant Ministries and Authorities.” Asih also added, “It would be relevant to look thoroughly and carefully at the conditions of the crypto asset industry (both at national and abroad level) and make appropriate and specific policies. Besides that, in order to maintain the conduciveness of the crypto industry in Indonesia, there is a need for an adequate transition or period of transition for business actors and the relevant government regarding adjustment steps to provide a policy framework to the regulatory landscape that will be authorized by each government agency.
Supporting the view above, the same thing was also conveyed by Plt. Head of CoFTRA, Didid Noordiatmoko, gathered from CNN Indonesia (02/11), Didid admitted that he still supports the government’s decision with a note, crypto remains a commodity, not a currency, “later the government will transfer crypto assets to the OJK, but not immediately when the PPSK Bill is promulgated . So, there is a transition period”. Didid also explained that during the transition period which is expected to last for 5 years, CoFTRA will try to make governance regulations. The goal is so that the crypto ecosystem can remain sustainable even though it later switches to the OJK.
SOURCE Asosiasi Blockchain Indonesia
Welcome to Blocks & Headlines, your daily deep-dive into the most impactful movements in blockchain technology and the cryptocurrency sector. In today’s edition, we unpack five major stories that illuminate trends in funding, sustainability, payment innovation, banking collaborations, and technical interoperability—all vital signposts for developers, investors, and Web3 enthusiasts. Here’s what’s on the docket:
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Camp Network’s New IP-Focused Testnet
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Blockchain for Sustainable Packaging
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Meta’s Blockchain-Based Payment System Plans
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Mocse Credit Union Joins Metal Blockchain’s Innovation Program
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Apex Fusion on the Urgency of Blockchain Defragmentation
Through concise reporting, opinion-driven analysis, and SEO-optimized insights—featuring keywords like blockchain, cryptocurrency, Web3, DeFi, and NFTs—we’ll explore how these developments shape the next wave of decentralized finance, enterprise adoption, and mass onboarding.
1. Camp Network Launches Testnet for IP-Focused Blockchain
What Happened:
Camp Network has unveiled its long-anticipated testnet following a $30 million funding round led by leading crypto VCs. This new network is tailored for intellectual property (IP) asset tokenization, aiming to streamline rights management and royalty payments via smart contracts.
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Technical Highlights:
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Modular Consensus: Hybrid PoS/PoA consensus that allows IP rightsholders to validate transactions.
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On-Chain Licensing: Smart contracts enabling programmable licensing terms, automated royalty splits, and revocable access controls.
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Interoperability: Bridges to Ethereum and Polygon enable seamless asset transfers and liquidity provisioning.
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Analysis & Implications:
By focusing on IP tokenization, Camp Network addresses a glaring gap in current NFT platforms, which often lack robust legal-framework integration. This specialization could catalyze:
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New Revenue Models: Musicians, authors, and inventors can fractionalize royalties, unlocking liquidity and democratizing investment in creative works.
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Institutional Adoption: Traditional publishers and studios may pilot tokenized licensing, accelerating blockchain’s entrée into regulated industries.
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Secondary Markets: With on-chain licensing data, marketplaces can enforce provenance and anti-fraud measures more effectively.
Camp Network’s testnet success will hinge on developer tooling, legal partnerships, and gas-fee economics. Should it deliver a smooth UX and clear ROI for rightsholders, it could set a new standard for Web3 IP infrastructure.
Source: The Block
2. Blockchain as a Sustainable Packaging Game-Changer
What Happened:
A recent report explores how blockchain can revolutionize sustainable packaging by delivering end-to-end supply-chain transparency. The solution combines on-chain tracking of materials, IoT sensor data for carbon footprint measurement, and tokenized incentives for recycling.
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Key Components:
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Immutable Traceability: Each packaging component is logged on a public ledger, enabling consumers to verify sustainable sourcing.
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Carbon Credit Tokens: Brands earn tokenized credits when they hit recycling targets, tradable on carbon-market DAOs.
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Consumer-Facing Apps: QR-code scanning interfaces reveal environmental impact metrics and reward programs.
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Analysis & Implications:
Integrating blockchain with sustainable packaging tackles greenwashing and fragmented reporting. The ability to tie physical materials to on-chain records introduces:
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Enhanced Accountability: Brands face real-time public scrutiny of ESG claims, improving trust and regulatory compliance.
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Market Mechanisms: Carbon credit tokens linking packaging to broader DeFi ecosystems incentivize circular economy behaviors.
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Consumer Engagement: NFTs or loyalty tokens tied to sustainable purchases could accelerate brand loyalty in eco-conscious demographics.
This convergence of blockchain, IoT, and token economics exemplifies how decentralized technologies can underpin not only financial systems but also planetary stewardship.
Source: Yahoo Finance
3. Meta Plans New Blockchain-Based Payment System
What Happened:
Meta is reportedly developing a blockchain-powered payment network to underpin its digital wallet ambitions, aiming to facilitate low-fee remittances, in-app purchases, and peer-to-peer transfers across Facebook, Instagram, and WhatsApp.
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Proposed Features:
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Cross-Border Settlements: Utilizing stablecoins pegged to major fiat currencies to avoid volatility.
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Layer-2 Scalability: Built atop an Ethereum Layer-2 or a proprietary chain to ensure sub-second confirmation times and minimal fees.
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Regulatory Compliance: On-chain KYC/AML checks integrated via permissioned sidechains.
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Analysis & Implications:
Meta’s push into blockchain payments could reshape the competitive landscape:
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Crypto On-Ramp: With 3 billion+ monthly users, built-in wallet functionality could massively expand mainstream cryptocurrency adoption.
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Disintermediation Risk: Traditional payment processors and remittance services face margin compression as Meta internalizes transaction flows.
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Regulatory Scrutiny: Centralized control of a global payments network raises data-privacy and antitrust questions, likely attracting significant oversight.
If Meta balances decentralization ethos with compliance demands, it could serve as a blueprint for other Big Tech firms eyeing Web3 integration.
Source: Dig.watch
4. Mocse Credit Union Joins Metal Blockchain’s Banking Innovation Program
What Happened:
Mocse Credit Union has signed on to Metal Blockchain’s Banking Innovation Program, a consortium designed to accelerate pilot projects in tokenized lending, fractional deposits, and programmable savings accounts.
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Program Benefits:
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Sandbox Environment: Regulatory-compliant testbeds for tokenized asset experiments.
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API Integrations: Plug-and-play modules for KYC, smart-contract auditing, and fiat-crypto on-ramps.
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Co-Innovation Workshops: Joint labs with fellow financial institutions and DeFi projects.
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Analysis & Implications:
This partnership signals the banking sector’s growing willingness to explore blockchain beyond hype:
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Tokenized Deposits: By issuing interest-bearing stablecoin equivalents, credit unions can attract a new demographic of digitally native savers.
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Risk Management: Sandboxed pilots allow institutions to evaluate smart-contract risks without exposing core systems.
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Interoperable Finance: Aligning legacy banking with DeFi rails can unlock hybrid products—e.g., flash loans collateralized by insured deposits.
Such collaborations could spearhead a wave of embedded finance offerings, blurring the lines between centralized and decentralized banking infrastructures.
Source: Newswire
5. Apex Fusion: Defragmenting Blockchain for Mass Adoption
What Happened:
In an op-ed, Apex Fusion argues that blockchain interoperability and defragmentation are critical prerequisites for mainstream Web3 uptake. The piece advocates standardized cross-chain messaging protocols, unified identity layers, and aggregated liquidity pools.
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Core Proposals:
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Protocol Neutral Messaging: A universal middleware to transmit value and data across disparate chains.
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Decentralized Identity (DID): A shared credential framework enabling seamless dApp logins without wallet-hopping.
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Liquidity Hubs: Cross-chain Automated Market Makers (AMMs) that pool assets to reduce slippage and gas friction.
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Analysis & Implications:
A fragmented blockchain ecosystem hinders user experience and developer efficiency:
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Onboarding Friction: New users face wallet complexity, chain-switching hassles, and inconsistent UX across apps.
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Capital Inefficiency: Isolated liquidity silos lead to higher trading costs and limit DeFi yield optimization.
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Developer Overhead: Building multichain dApps requires fragmented toolkits and disparate security audits.
Solving these challenges through interoperable frameworks will be pivotal for DeFi, NFT, and enterprise Web3 solutions to scale beyond niche audiences. Apex Fusion’s recommendations may inform upcoming standards efforts by bodies like the Blockchain Governance Initiative Network (BGIN).
Source: Euro Weekly News
Conclusion
Today’s blockchain developments reflect a maturing industry at the crossroads of innovation and integration:
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Specialized Networks: Camp Network’s IP testnet showcases niche use-cases driving targeted blockchain deployments.
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Sustainability & Token Economics: Linking environmental impact to on-chain incentives demonstrates blockchain’s potential in non-financial arenas.
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Big Tech Entry: Meta’s payment ambitions could accelerate global crypto adoption while raising regulatory stakes.
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Banking Collaboration: Programs like Metal Blockchain’s underscore financial institutions’ appetite for safe, regulated Web3 experimentation.
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Interoperability Imperative: As Apex Fusion highlights, defragmentation and cross-chain standards are essential for seamless UX and liquidity flow.
As blockchain weaves deeper into finance, supply chains, and digital ecosystems, the future hinges on striking the right balance between decentralization, compliance, and user-centric design. Stay tuned for tomorrow’s Blocks & Headlines where we continue to chronicle the pulse of Web3 innovation.
The post Blocks & Headlines: Today in Blockchain – May 9, 2025 appeared first on News, Events, Advertising Options.
Blockchain
Bitget Blockchain4Youth sostiene l’innovazione del Web3 e dell’IA all’hackathon “Build with AI” di Google Developer Group
Bitget, società Web3 e uno dei principali exchange di criptovalute, ha ottenuto un riscontro significativo in occasione del recente hackathon “Build with AI”, tenutosi dal 2 al 5 maggio 2025 presso la Constructor University. Spingendosi oltre la semplice sponsorizzazione, l’iniziativa Blockchain4Youth di Bitget ha coinvolto attivamente più di 130 studenti di talento.
L’evento, organizzato dai Google Developer Groups (GDG) on Campus, ha offerto a Bitget uno spazio dinamico per entrare in contatto diretto con gli innovatori tecnologici di nuova generazione. Nel corso di una presentazione dedicata, è stato introdotto il programma Blockchain4Youth Builder, che mostra l’impegno di Bitget nel formare giovani talenti all’interno dello spazio del Web3. Questa partecipazione evidenzia l’approccio lungimirante di Bitget nell’integrare la formazione in materia di blockchain con i settori emergenti come l’IA, riconoscendo il loro potenziale combinato.
Gli studenti hanno lavorato alla creazione di modelli basati sull’IA e di prodotti in fase iniziale utilizzando gli strumenti avanzati di Google, mentre la presenza di Bitget ha offerto una prospettiva unica su come la blockchain possa migliorare ed essere integrata nelle soluzioni di IA. Questa interazione con il mondo reale ha fornito preziose indicazioni agli studenti, colmando il gap tra conoscenze teoriche e applicazione pratica all’interno del panorama tecnologico in rapida evoluzione.
“La formazione rimane un principio fondamentale della nostra missione e, attraverso iniziative come Blockchain4Youth, intendiamo fornire alle nuove generazioni le competenze necessarie non solo per esplorare, ma anche per plasmare attivamente questo settore dinamico”, ha commentato Vugar Usi Zade, COO di Bitget. “Collaborare con comunità come il Google Developer Group offre una base preziosa per connettersi con talenti di spicco e aiutarli nel percorso di utilizzo della blockchain per creare soluzioni di impatto. Blockchain4Youth continuerà a espandere la sua portata, favorendo la crescita dei futuri leader del Web3 in grado di cogliere le numerose opportunità offerte da questa tecnologia”.
Il coinvolgimento mostrato all’hackathon “Build with AI” di GDG è un elemento chiave del più ampio programma Blockchain4Youth di Bitget, l’iniziativa aziendale dedicata alla Responsabilità Sociale d’Impresa (RSI). Questo programma mira a favorire la prossima generazione di leader Web3 attraverso opportunità formative ed esperienze pratiche.
Tra le iniziative più recenti del programma Blockchain4Youth c’è il lancio del Graduate Program di Bitget, concepito per reclutare i migliori laureati nel settore blockchain e Web3. Inoltre, l’espansione del programma Bitget Builders continua a fornire agli individui più promettenti del Web3 un’esperienza diretta attraverso gli eventi offline, i programmi formativi e la crescita strategica della community.
A proposito di Bitget
Fondata nel 2018, Bitget è una società Web3 tra i principali exchange di criptovalute al mondo. Con oltre 100 milioni di utenti in più di 150 Paesi e aree geografiche, l’exchange Bitget si impegna ad aiutare gli utenti a fare trading in modo più smart con la sua pionieristica funzione di copy trading e altre soluzioni di trading.
The post Bitget Blockchain4Youth sostiene l’innovazione del Web3 e dell’IA all’hackathon “Build with AI” di Google Developer Group appeared first on News, Events, Advertising Options.
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