Indonesia’s National Crypto Exchange Set to Launch in July
According to Tempo, a local Indonesian news agency, the Commodity Futures Trading Supervisory Agency (Bappebti) of Indonesia is set to launch the national crypto exchange in July 2023.
Head of Bappebti, Didid Noordiatmoko, stated that all cryptocurrency transactions within the country will be exclusively conducted through the national exchange. He also mentioned that discussions have taken place regarding the implementation of Know Your Customer (KYC) procedures.
The exchange will offer trading through an integrated application, which has already undergone system integration tests involving traders, exchanges, clearing, and depository services.
The plan is to limit cryptocurrency sales to local transactions while aligning them with international market developments, subject to approval from Bappebti. The agency has informed Trade Minister Zulkifli Hasan about the progress, and if there are no further instructions, Bappebti will grant the permit, allowing licensed traders to join the exchange within one month.
The exchange will offer trading through an integrated application, which has already undergone system integration tests involving traders, exchanges, clearing, and depository services.
The plan is to limit cryptocurrency sales to local transactions while aligning them with international market developments, subject to approval from Bappebti. The agency has informed Trade Minister Zulkifli Hasan about the progress, and if there are no further instructions, Bappebti will grant the permit, allowing licensed traders to join the exchange within one month.
