• Indonesian Trade Minister Zulkifli Hasan announced that the launch of Indonesia’s national crypto exchange will now happen in June 2021.
• The national platform will act as a clearing house and custodian, facilitating smooth trades and overseeing the activities of private exchanges.
• Regulators have already registered five exchanges which will operate under the new national crypto exchange.
Indonesia To Launch National Crypto Exchange In June
The Indonesian Trade Minister, Zulkifli Hasan, announced that the launch of Indonesia’s national crypto exchange will now happen in June 2021. Initially, it was planned to be launched by December 2022. This is due to delays caused by the government trying to ensure all requirements, procedures, and steps moved as planned.
Exchanges Operating Under National Platform
Regulators have already registered five exchanges which will operate under the new national crypto exchange. These exchanges are regulated by the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti). The platform acts as a clearing house and custodian for these exchanges, facilitating smooth trades and overseeing their activities.
National Platform’s Role
As a mediator between buyers and sellers, this national platform ensures all transactions go without hitches. It also manages asset flow and protects investors‘ interests. To ensure that everything goes according to plan before launching the exchange, Minister Hasan urged people to be patient instead of rushing things through. He added that this is because most people lack enough knowledge about cryptocurrency trading yet any misstep could mess up their plans.
Crypto Literacy Month
This announcement was made during Crypto Literacy Month’s opening ceremony on February 2nd in Jakarta. During NXC International Summit in September 2022, Indonesia’s Deputy Trade Minister Jerry Sambuaga reaffirmed that they still intend to launch a crypto exchange despite meeting delays from preparation processes necessary to meet requirements for joining the national platform.
Indonesia is taking steps towards becoming more involved with digital assets through its upcoming launch of its own cryptocurrency exchange this June 2021; this being done with safety measures such as ensuring proper procedures are taken beforehand as well educating citizens about digital assets through Crypto Literacy Month initiatives..