The Indonesian Government Sets Course for National Crypto Exchange Debut

Indonesia’s plans to establish a nationwide cryptocurrency exchange are progressing as the government prepares for the platform’s launch in the near future.

According to a report from local news agency Tempo on July 14, the Commodity Futures Trading Supervisory Agency (CFTRA), commonly known as Bappebti, is spearheading the initiative and aims to introduce the national crypto exchange in July 2023.

Didid Noordiatmoko, the head of Bappebti, stated that all cryptocurrency transactions will be exclusively conducted through the national exchange. Additionally, Noordiatmoko emphasized that the agency intends to confine cryptocurrency sales to domestic transactions while keeping pace with international market developments. The approval of crypto prices by Bappebti will be a part of this framework, as per the report.

With the imminent launch of the national cryptocurrency exchange, Indonesia is taking a significant step toward regulating and streamlining digital asset trading within its borders. This move reflects the country’s commitment to foster a secure and controlled environment for cryptocurrency transactions, promoting the growth of the sector while aligning with global market trends.

Read more: Cointelegraph

Photo by Ivan Babydov