Jerry Sambuaga, Indonesia’s deputy trade minister, told the media that the country wants to set up a cryptocurrency exchange.
Indonesia’s deputy trade minister, Jerry Sambuaga, has announced that Indonesia will set up a cryptocurrency exchange by the end of 2022.
Indonesia Wants To Establish Crypto Exchange By The End Of This Year
The Southeast Asian country, Indonesia, postponed the cryptocurrency exchange, which it had previously launched in 2021, to 2022 due to the complexities in the process. Speaking to the media on the subject, vice minister of commerce Jerry Sambuaga said that introducing a crypto exchange requires preparations, approval of organizations to be included, and minimum capital requirements.
The Commodity Futures Trading Regulatory Authority (Bappebti), which regulates crypto trading in the Southeast Asian country of Indonesia, stopped issuing registration certificates for crypto-asset investors last month.
In Indonesia, there are about 25 licensed cryptocurrency trading companies under Bappebti’s registry, including the problematic crypto exchange Zipmex. Bappebti data showed that 2021 crypto transactions in Indonesia totaled 859.4 trillion rupees ($57.7 billion), up from 64.9 trillion rupees in 2020.
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