A national crypto exchange is reportedly expected to launch in Indonesia by June of this year, six months earlier than the country’s initial goal of December 2022.<br /><br />At the beginning of Crypto Literacy Month in Jakarta on February 2, Trade Minister Zulkifli Hasan announced the new target launch date while mentioning that the government is currently determining which businesses meet their requirements to join the national crypto exchange.<br /><br />Indonesian Ministry On National Crypto Exchange<br />According to Zulkifli, the ministry’s national crypto exchange may include all five of the country’s active cryptocurrency exchanges that are currently registered with the appropriate authorities.<br /><br />The ministry’s exchange would serve as a clearing house and custodian in the local cryptocurrency market, whereas these exchanges now facilitate all trades within the country.<br />A clearing house basically acts as a middleman to facilitate a transaction between a buyer and a seller. The movement of assets between the two parties would also be managed by it in its capacity as custodian.<br />The trade minister pleaded with the populace to wait for the national crypto exchange to be ready, warning that doing so would cause chaos. Because most people are unaware of [crypto trading], the government does not want this to have a significant negative impact on the populace.<br /><br />By the end of 2022, Indonesia had intended to launch its cryptocurrency exchange. However, this was postponed due to several challenges.<br /><br />The Commodity Futures Trading Regulatory Agency, also known as Bappebti, now regulates the trading of crypto assets in the nation together with commodity contracts, but that authority will transfer to the Financial Services Authority if a national exchange is established.<br /><br />The change in regulation is a result of new crypto regulations that were approved on December 15 and which classify cryptocurrencies and other digital assets as regulated financial securities.<br /><br />The governor of the Bank of Indonesia, Perry Warjiyo, had stated on December 5 that the country’s only legal digital currency would be the one the central bank planned to introduce.<br /><br />#cryptocurrency #crypto #indonesia #Nationalcryptoexchange #cryptoexchange #cryptocurrencyexchange #Bappebti #bankofindonesia<br />#trending #latest #cryptomarket<br />...<br /><a href="https://www.youtube.com/watch?v=X-f0ens-hys" target="_blank" rel="nofollow">https://www.youtube.com/watch?v=X-f0ens-hys</a>