Indonesia’s Futures and Commodity Trading Regulatory Agency will launch a national cryptocurrency exchange this month.
Indonesia's national crypto exchange is set to launch this month, according to local news agency Tempo. The Commodity Futures Trading Supervisory Agency, also known as Bappebti, plans to launch the exchange after several delays. Once launched, Bappebti's head, Didid Noordiatmoko, stated that all crypto transactions must be conducted through the platform. 501 cryptocurrencies have been approved for trading on the exchange.
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Indonesia to launch national crypto exchange in July. Exchange Will Go Live After Several Delays
According to Noordiatmoko, Bappebti has agreed to the stock exchange rules and their discussion involved KYC procedures. He also mentioned that an integrated application has been tested by Bappebti for trading on the exchange. Indonesia to launch national crypto exchange in July.
"Yesterday we conducted system integration tests between traders, exchanges, clearing, and depository," Didid said.
The launch of Indonesia's national exchange, which was originally scheduled for December 2022, has been postponed to June 2023. The regulator plans to impose restrictions on crypto sales, limiting them to local transactions while adhering to international market developments and standards. The exchange's progress has been reported to Indonesia's Trade Minister, Zulkifli Hasan. Assuming all goes according to plan and no further instructions are issued, the regulator will issue a permit allowing licensed traders to join the platform within one month.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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