Jumat, Oktober 13, 2023

Futures Brokers and Physical Traders of Crypto-Assets Prohibited from Providing Funds to Parties Listed under DPPSPM

The Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – "Bappebti") has decided to adjust various aspects relating to procedures for the Prevention of the Funding of the Proliferation of Weapons of Mass Destruction (Pendanaan Proliferasi Senjata Pemusnah Masal - "PPSPM") by futures brokers ("Brokers") and physical traders of crypto-assets ("Physical Traders"), as originally set out under Regulation No. 5 of 2023 ("Regulation 5/2023") through the issuance of Regulation No. 8 of 2023 as the Amendment to Regulation 5/2023 ("Amendment"), which has been in force since 26 September 2023.
In essence, the Amendment now prohibits Brokers, as well as candidates and existing Physical Traders (collectively referred to as "Parties") from providing, granting or loaning funds to and in the interests of any individuals or corporations in line with the PPSPM list (Daftar PPSPM – "DPPSPM") issued by the Financial Transaction Reports and Analysis Center (Pusat Pelaporan dan Analisis Transaksi Keuangan – "PPATK").
Furthermore, the Amendment also mandates that individuals and corporations should carry out the immediate blocking of any funds that directly or indirectly belong to or that are controlled by other individuals or corporations listed under the DPPSPM. However, said immediate blocking will not apply under certain conditions that relate to the fulfillment of the needs of sanctioned individuals or corporations (e.g. daily expenses, healthcare services, mortgages and so forth).
In addition, the Amendment states that bona-fide third parties will be entitled to enjoy protections in terms of any funds that have been subject to the imposition of the above-described immediate blocking. In this regard, the various forms of protection that will be granted to said third parties will be further determined by the PPATK and other related agencies.

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The Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – "Bappebti") has decided to adjust various aspects relating to procedures for the Prevention of the Funding of the Proliferation of Weapons of Mass Destruction (Pendanaan Proliferasi Senjata Pemusnah Masal - "PPSPM") by futures brokers ("Brokers") and physical traders of crypto-assets ("Physical Traders"), as originally set out under Regulation No. 5 of 2023 ("Regulation 5/2023") through the issuance of Regulation No. 8 of 2023 as the Amendment to Regulation 5/2023 ("Amendment"), which has been in force since 26 September 2023.
In essence, the Amendment now prohibits Brokers, as well as candidates and existing Physical Traders (collectively referred to as "Parties") from providing, granting or loaning funds to and in the interests of any individuals or corporations in line with the PPSPM list (Daftar PPSPM – "DPPSPM") issued by the Financial Transaction Reports and Analysis Center (Pusat Pelaporan dan Analisis Transaksi Keuangan – "PPATK").
Furthermore, the Amendment also mandates that individuals and corporations should carry out the immediate blocking of any funds that directly or indirectly belong to or that are controlled by other individuals or corporations listed under the DPPSPM. However, said immediate blocking will not apply under certain conditions that relate to the fulfillment of the needs of sanctioned individuals or corporations (e.g. daily expenses, healthcare services, mortgages and so forth).
In addition, the Amendment states that bona-fide third parties will be entitled to enjoy protections in terms of any funds that have been subject to the imposition of the above-described immediate blocking. In this regard, the various forms of protection that will be granted to said third parties will be further determined by the PPATK and other related agencies.

......