Indonesiaaims to create the national cryptocurrency exchange this year as part of its crypto regulatory reform.
Happened last year FTX The crisis has caused many crypto exchanges to move on their toes. Developments that led to the loss of confidence of crypto investors increased their regulatory needs in the new year. Many countries are working hard to ensure that crypto exchanges act within an audit. On the other hand Indonesiafocused on creating a national cryptocurrency exchange as part of its crypto regulatory reform.
Indonesia Plans To Create A Crypto Exchange This Year
Indonesian Commodity Futures Trading Regulatory Authority ( Bappebti) head Didid Noordiatmoko reported that a crypto exchange should be established this year. This move comes after crypto reforms launched late last year.
This national crypto exchange is slated to launch before the country’s regulatory power transitions from commodities to securities authority. In the crypto reforms that emerged at the end of last year, the fate of crypto surveillance over the next two years was covered. Crypto oversight in the country, a commodity-focused organization Bappebtifrom the Financial Services Authority ( FSA) will pass to the side.
Head of Finance and Risk Management Suminto Sastrosuwitothe regulatory power Bappebtifrom FSAHe explained his transition to:
“Actually, crypto assets have become investment and financial instruments, so they need to be regulated on an equal footing with other financial and investment vehicles.”