Indonesia to have national crypto exchange before June

Indonesia’s Ministry of Trade originally planned to set up a domestic cryptocurrency exchange by the end of 2022, but now the ministry says it aims to set up the exchange by June 2023. Local news reports. report.

Stock exchanges are being established as part of regulatory reform adoption in the Indonesian House of Representatives in December.

The Indonesian government is currently considering a cryptocurrency exchange to become part of the national stock exchange. According to the report, out of 25 exchanges registered with the Commodity Futures Trading Regulatory Agency, five active exchanges are participating in the competition.

Trade Minister Zulkifri Hasan said all five exchanges could become part of the ministry’s cryptocurrency exchange. Hassan added:

“Don’t be in a rush because if you’re not prepared things will go haywire. People don’t know much and the government doesn’t want this to hit the masses massively.” [about crypto trading]

The establishment of the crypto exchange has been delayed as the Indonesian government has suspended issuing new crypto exchange licenses.

The recently lifted moratorium had drawn criticism from those who believed the government was unnecessarily “making things difficult”. rice field.