Indonesia to Launch Crypto Exchange In July
The Indonesian government is pressing forward with plans to build a national cryptocurrency exchange, with the site expected to go live in the coming weeks.
According to Tempo, Indonesia’s Commodity Futures Trading Supervisory Agency (CFTRA), commonly known as Bappebti, aims to build a national cryptocurrency exchange in July 2023.
Bappebti head Didid Noordiatmoko announced that all cryptocurrency transactions will be allowed on the national exchange. The company plans to restrict sales to local transactions while keeping them in line with international market developments, including crypto prices. Bappebti informed Trade Minister Zulkifli Hasan about the development and will sign a permit if no other instructions are provided. The Indonesian Ministry of Trade aims to launch the national cryptocurrency exchange in June 2023, following a delay in the project. The initiative began in 2021 when Indonesia’s state-backed telecom firm announced a joint venture with Binance to launch a cryptocurrency exchange.
(With inputs from Shikha Singh)
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