Indonesia to launch crypto stock exchange at end-2022
Indonesia will launch a crypto stock market by the end of this year, said the country’s deputy trade minister Jerry Sambuaga, according to a media report.
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Fast facts
The Southeast Asian nation had earlier announced a 2021 launch but revised it to the first quarter of 2022 due to complexities in the process.
The minister said introducing a crypto stock exchange entails preparations, validations of entities who would be included, as well as minimum capital requirements.
Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), which regulates crypto trading in the Southeast Asian nation, last month stopped issuing registration certificates for crypto asset traders.
Indonesia has about 25 licensed crypto trading companies under Bappebti, including troubled crypto exchange Zipmex.
Bappebti data showed that 2021 crypto transactions in Indonesia totalled 859.4 trillion rupiah (US$57.7 billion), up from 64.9 trillion rupiah in 2020.
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