- The Acting Head of the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – “Bappebti”), Didid Noordiatmoko, recently stated that Indonesia’s new crypto exchange is slated for launch this year after it failed to materialize during the course of 2022.
- Noordiatmoko further elaborated that the forthcoming crypto exchange will have the same duties as other exchanges in general, including the supervision, governance and regulation of crypto traders and their members, as well as the imposition of suspensions if there are any drastic fluctuations in crypto prices.
- In terms of the progress of the crypto exchange, three stages need to be completed and have been designated with indicators. The current state of play is that Bappebti is still completing stage one. If the new crypto exchange is successfully opened in 2023, then it will fall under the direct control of the Ministry of Trade during the transition period for OJK and Bappebti crypto transaction supervision activities.
- Bappebti has previously stated that one of the reasons behind the ongoing failure to realize the crypto exchange has been a difficulty to locate ecosystem benchmarks in other countries similar to Indonesia. (ANT)
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