bitcoin and cryptocurrency As the interest of the countries increased, the moves of the countries towards this area followed.
The year 2022 was expected to be the year of cryptocurrency regulation, but the decline in interest with the bear market pushed the countries to act a little slower.
While some countries are creating attractive opportunities for the industry to become a cryptocurrency hub, a different move came from Indonesia.
Jerry Sambuaga, Deputy Minister of Commerce, announced yesterday that the Indonesian government will set up its own cryptocurrency exchange.
It was stated that the government’s approach was to “protect investors”.
According to local media reports, the exchange will be operational by the end of 2022.
Digital asset companies will also be listed on this exchange, as will the 25 exchanges currently licensed by the Indonesian CMB.
Speaking on the subject, Deputy Secretary of Commerce Jerry Sambuaga said:
“The Indonesian government sees this exchange as a way to protect consumers as interest in digital currencies grows.
There will be a preparatory process to set up this exchange. We need to decide what will be listed on the exchange and which entities will be involved. We will also need to verify these. Third, there are requirements such as retention and minimum capital.”
It is estimated that the 2021 cryptocurrency transaction volume in Indonesia is $57.6 billion and there are 15 million cryptocurrency users as of June.
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