KPK Finds 2 State Officials Have Crypto Assets Worth Billions of Rupiah

Bittime - Recently, the KPK discovered that 2 state officials had crypto assets worth billions of rupiah. This news shows that attention to crypto is increasingly widespread, and has the potential for misuse.

Promising crypto assets are not accompanied by clearer and clearer regulations from the country, giving rise to various potential financial crimes.

Findings by the Corruption Eradication Commission

The KPK's success in discovering that 2 state officials had crypto assets worth billions of rupiah was apparently not accompanied by the competence of the KPK itself.

Because, even the KPK is still confused about understanding the mechanisms and how crypto assets work.

The Corruption Eradication COMMISSION (KPK) admits that the Anti-Corruption Agency's prevention and monitoring team is still confused about how investment using crypto assets works.

"We are not sure how to channel the money, I don't understand," said KPK Deputy for Prevention and Monitoring Pahala Nainggolan in a statement in Jakarta on Wednesday (24/4) to Media Indonesia.

Also Read: Most Updated Shiba Inu (SHIB) Price Predictions, 2024 to 2030

Pahala explained that his party found two officials who had invested using crypto. The Corruption Eradication Commission needs to understand this digital financial system to prevent rogue state administrators from hiding their assets.

"The question is, how can crypto be cashed back? I still want to understand it, but maybe later," said Pahala.

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Starting from the LHKPN Investigation

Pahala Nainggolan, in his capacity as Deputy for Prevention and Monitoring at the Corruption Eradication Commission, stated that the value of the assets owned by the two officials reached billions of rupiah. These officials may have positions in the financial sector.

"When I checked the State Administrators' Wealth Report (LHKPN) of the two officials, they had crypto assets worth billions. I am still checking," said Pahala to the media at the KPK's Red and White Building, South Jakarta, on Tuesday (23/4 ).

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Pahala stated that LHKPN usually records assets in the form of property more often. However, it now also records crypto assets. The KPK knows this because there are deposit records from investments in crypto.

Also read: Crypto Tax MoU between Indonesia and Australia, a new step

"In my opinion, most LHKPN record property ownership. I previously thought there would be stock records, but it turns out there aren't that many. However, if someone is interested in crypto, they usually also invest in the stock market. So, their literacy usually includes the stock market, bonds , and others," added Pahala.

President Jokowi's appeal regarding Crypto Assets

In his speech at the 22nd Anniversary of the National Movement for Anti-Money Laundering and Prevention of Terrorism Financing at the Presidential Palace, Jakarta, Wednesday (17/4), President Joko Widodo (Jokowi) emphasized the need for handling TPPU to be carried out comprehensively by all relevant parties.

Jokowi emphasized that the government must increase legal regulations and transparency to enforce firm and fair law enforcement, as well as utilize technology. 

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Jokowi highlighted the importance of anticipating new technology-based patterns in TPPU, including crypto assets, virtual assets, NFTs, marketplace activities, electronic money, artificial intelligence (AI) used for automatic transactions, and so on.

However, apart from TPPU, Jokowi also emphasized the importance of awareness among the Indonesian public and government regarding the threat of terrorist financing.

"Due to very rapid technological advances, the Crypto Crime Report shows indications of money laundering through crypto assets, reaching 8.6 billion US dollars in 2022. This is equivalent to IDR 139 trillion globally," said Jokowi.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.