Indonesia’s New Crypto Exchange Opens Under Regulatory Oversight
Indonesia has successfully launched its national cryptocurrency exchange and clearing house, as confirmed by the country’s Commodity Futures Trading Supervisory Agency (Bappebti).
This platform, under local regulatory monitoring, is now the sole space in the country for legal digital asset exchange. Bappebti also established a futures clearing house to facilitate smooth transactions between buyers and sellers. Licensed traders have a one-month window to join the exchange, and the project, which began development in December 2021, faced delays but finally launched in June 2023.
Indonesia’s Deputy Minister of Trade had previously suggested policy changes to regulate the crypto industry further. The country remains an attractive market for crypto, with approximately 4% of its population, or nearly 11 million people, having invested in digital assets in 2021.
Clever Robot News Desk 26th July 2023
