Terra Scared This Country! Hard Rules Have Arrived for Cryptocurrency Exchanges!

in May Terra (Luna) The collapse in the network of the countries mobilized the regulators of the countries.

In this context, country regulators are trying to impose stricter rules in the cryptocurrency space to prevent such a collapse. Last move on this Indonesiacame from

BloombergIndonesian regulators are trying to protect investors. cryptocurrency tightening the rules.

In this regard, regulators are introducing a new rule that requires local cryptocurrency exchanges to be run mostly by citizens of the country.

Officials from the Indonesian Ministry of Commerce and the Commodity Futures Trading Regulatory Authority, who attended a parliamentary session in Jakarta, said that according to the new rule At least two-thirds of the directors and commissioners of local cryptocurrency exchanges must be Indonesian citizens residing in the country. explained.

Didid Noordiatmoko, deputy head of the Commodity Futures Trading Regulatory agency, said in a statement:

“With the new rule, we can at least prevent those responsible from fleeing the country if any problems arise.”

It was not specified when the rule would be implemented.

Indonesian Deputy Minister of Commerce Jerry Sambuaga also announced other revisions to the cryptocurrency industry.

“We don’t want to be careless towards the stock markets. Therefore, only those who meet the necessary conditions and are reliable will stay in the country.

Therefore, additional revisions will be made.

The minimum capital requirement for crypto exchanges is gradually doubling in line with their growth. The maximum will be 100 billion rupees ($6.7 million).
Exchanges will be prohibited from reinvesting in crypto assets.

Users money should be stored in third-party bank accounts.”