The national cryptocurrency exchange, announced by the Indonesian government a week ago, has officially started operations.
Announced a week ago by the Indonesian government, the national cryptocurrency exchange has started trading, according to a statement from the country’s Commodity Futures Trade Regulatory Authority, known as Bappebti. The platform will be the only area in the country where the legal exchange of digital assets is allowed.
Indonesia expands crypto activities
Bappebti officially confirmed the launch of the exchange on July 20. In addition, the agency has also created a futures clearinghouse with the exchange. The project has been working since December 2021. In September 2022, Pang Hue Kai, CEO of Tokokrypto, one of 25 licensed crypto exchanges in Indonesia and partially owned by Binance, described the project as a catalyst for the Indonesian crypto ecosystem.
The launch, scheduled for the end of 2022, has been postponed to June 2023 due to the review process of the exchange’s potential participants. At that time, the country’s Minister of Commerce, Zulkifli Hasan, announced that all active cryptocurrency exchanges with national registration could participate in the stock market. Looking back on the current process, the national crypto exchange and clearinghouse are officially in operation.
