Cryptocurrencies With its wider acceptance, states feel the need to make more regulations in this area. Examples like Singapore and the United Arab Emirates are adopting this technology, while China is on the path of banning crypto completely.
from Far East countries Indonesia On the other hand, it wants citizens to use digital assets under the guarantee of the state. The main goal is for the state-supported cryptocurrency exchange, which is planned to be established in the country, to be operational by the middle of the year.
Didid Noordiatmoko, Chairman of the Indonesian Commodity Futures Trade Regulatory Authority (Bappebti), spoke to sources recently. Noordiatmoko stated that they hope the exchange will be operational in mid-2023.
“Private Sector Will Operate”
Bappebti President also gave information about the operation plan of the stock market. Noordiatmoko emphasized that although the crypto trading platform is state-sponsored, the private sector will play a role in almost the entire process. State organs will only assume the role of supervision and provide assurance to the citizens.
The work of the Far Eastern country in the field of crypto is not limited to this. Authorities, FTX took a series of measures to prevent fraudulent activities long before the bankruptcy of the stock market.
There are a number of restrictions for crypto trading platforms operating in the country. The government requires exchanges to store customer funds with a third-party bank. It is also a critical measure that two-thirds of the board of directors of these companies are Indonesian citizens.
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