![]() ![]() Indonesia didn’t outright ban digital assets. Such level of scrutiny is not surprising given the harsh warnings issued to both tourists and businesses to halt all crypto transactions and use local rupiah (IDR) instead. Alongside Bappebti, the exchange will be supervised by the Financial Services Authority (OJK), Bank Indonesia (BI), and the Ministry of Finance. This includes know-your-customer (KYC) rules and tight supervision under Bappebti, as the watchdog agency approves digital asset listing and pricing. Limited to local cryptocurrency transactions, the exchange will act much like NYSE but for digital assets. The national exchange has been delayed three times since the initial launch plans in 2021. “The establishment of exchanges, clearing houses and managers of crypto asset storage is proof that the government is present in an effort to create a fair crypto asset trading ecosystem to guarantee legal certainty and prioritize protection for the public as customers,” Didid Noordiatmoko, the head of the Commodity Futures Trading Regulatory Agency (“Bappebti”), described the new institution as having multiple functions – exchange, custody, and clearing house. Please consult our website policy prior to making financial decisions.Īs previously announced, the most populous Southeast Asian country finally launched its first national digital asset exchange yesterday. Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. ![]()
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