Indonesia, which is currently updating its crypto regulation, has announced it plans to launch a crypto exchange in 2023. According to reports, the launch is expected to happen before the regulatory power is switched from the commodities to the securities authority.
Didid Noordiatmoko, head of the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti), has today said that a crypto exchange should be set up this year as a part of the broader financial reform that was launched in December.
The reform includes the transfer of power over crypto from Bappebti, a commodities-focused agency, to the Financial Services Authority (FSA).
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The Financial Sector Development and Reinforcement bill (P2SK), which has become the primary legal reference in the financial service sector, was ratified by the House of Representatives of Indonesia on December 15.