Indonesia launched a national crypto exchange in response to the significant growth of the crypto market and the acceptance of digital assets by many countries.
The Commodity Futures Trading Regulatory Agency (CFTRA) officially started crypto exchange operations on July 20, after experiencing several delays since it announced it would launch in late 2021.
Indonesia's national crypto exchange has a style similar to Nasdaq and aims to create a fair crypto asset trading ecosystem and provide legal certainty and protection for the public as consumers.
Part of the creation of this exchange involved the establishment of a Futures Contract Registry House, whose job was to ensure smooth transactions between buyers and sellers.
At launch, Indonesia had around 383 tradable crypto assets and 10 local cryptocurrencies, and Bappebti is reviewing more additional assets and cryptocurrencies.
The national crypto exchange is the only legally authorized platform for crypto exchange in the country, harmonizing domestic transactions with international market developments.
Traders who wish to participate in this exchange are required to register within one month of launch, and it is hoped that the crypto community in Indonesia will respond quickly.