/cdn.vox-cdn.com/uploads/chorus_asset/file/24016885/STK093_Google_04.jpg)
/cdn.vox-cdn.com/uploads/chorus_asset/file/24808816/Starfield__The_Settled_Systems___Supra_Et_Ultra_____Starfield__The_Settled_Systems___Supra_Et_Ultra_2023_7_25_94252.263_1440p_streamshot.png)
The Indonesian government has unveiled the country’s crypto exchange and clearing house to increase oversight of the cryptocurrency sector and improve investor protection in the country.
The launch of the new crypto asset exchange follows an initial announcement in 2021.
National Crypto Exchange Finally Launched
Indonesia’s crypto market, which began The operation at the start of the week comes amid the government’s change in regulatory oversight, according to the country’s Commodity Futures Trading Regulatory Agency (BAPEBATI).
In November 2022, Indonesia’s Finance Minister Mr. Mulyani Indrawati revealed that the government was planning to transfer the right to regulate and supervise crypto investments to the Financial Services Authority (OJK). Bappebati and the Ministry of Trade were in charge of overseeing crypto activities in the Southeast Asian country.
Speaking about the new exchange, Bappebati head Didid Nordiantmoko said in a statement that the exchange will be operated by PT Bursa Komoditi Nusantara, while PT Clearing Berjangka Indonesia will handle the clearing of transactions, PT Tenet Depository will be appointed as the crypto asset storage manager.
There were initial plans to launch a national crypto asset exchange in 2021, but there were delays that prevented the venture from moving forward. Later in September 2022, Indonesian Deputy Trade Minister Jerry Sambuga stated that there were plans to launch the exchange at the end of the year.
With the crypto asset exchange now operational, the government said it will enable regulators to access transaction records and ensure robust investor protection. Meanwhile, the country’s new crypto asset exchange will list current licensed crypto firms, including TocoCrypto and Indodex, acquired by Binance in December 2022.
Indonesia registered nearly 18 million crypto investors in June
Indonesia, which banned crypto payments in 2021, has seen an increase in cryptocurrency investments allowed in the country. According to Reuters, 17.5 million Indonesians have invested in crypto as of June, far more than investors in the stock exchange market.
However, economic factors such as rising global interest rates have dampened the enthusiasm for cryptocurrencies among investors recently. Crypto transactions between January and June fell by 67.8% compared to the same period in 2022. Meanwhile, the most traded assets among Indonesians include Bitcoin, Ether, Binance Coin, XRP and the stablecoin Tether.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
The Indonesian government has unveiled the country’s crypto exchange and clearing house to increase oversight of the cryptocurrency sector and improve investor protection in the country.
The launch of the new crypto asset exchange follows an initial announcement in 2021.
National Crypto Exchange Finally Launched
Indonesia’s crypto market, which began The operation at the start of the week comes amid the government’s change in regulatory oversight, according to the country’s Commodity Futures Trading Regulatory Agency (BAPEBATI).
In November 2022, Indonesia’s Finance Minister Mr. Mulyani Indrawati revealed that the government was planning to transfer the right to regulate and supervise crypto investments to the Financial Services Authority (OJK). Bappebati and the Ministry of Trade were in charge of overseeing crypto activities in the Southeast Asian country.
Speaking about the new exchange, Bappebati head Didid Nordiantmoko said in a statement that the exchange will be operated by PT Bursa Komoditi Nusantara, while PT Clearing Berjangka Indonesia will handle the clearing of transactions, PT Tenet Depository will be appointed as the crypto asset storage manager.
There were initial plans to launch a national crypto asset exchange in 2021, but there were delays that prevented the venture from moving forward. Later in September 2022, Indonesian Deputy Trade Minister Jerry Sambuga stated that there were plans to launch the exchange at the end of the year.
With the crypto asset exchange now operational, the government said it will enable regulators to access transaction records and ensure robust investor protection. Meanwhile, the country’s new crypto asset exchange will list current licensed crypto firms, including TocoCrypto and Indodex, acquired by Binance in December 2022.
Indonesia registered nearly 18 million crypto investors in June
Indonesia, which banned crypto payments in 2021, has seen an increase in cryptocurrency investments allowed in the country. According to Reuters, 17.5 million Indonesians have invested in crypto as of June, far more than investors in the stock exchange market.
However, economic factors such as rising global interest rates have dampened the enthusiasm for cryptocurrencies among investors recently. Crypto transactions between January and June fell by 67.8% compared to the same period in 2022. Meanwhile, the most traded assets among Indonesians include Bitcoin, Ether, Binance Coin, XRP and the stablecoin Tether.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
