Before transferring control of these assets from a commodities agency to the Financial Services Authority (FSA), Indonesia wants to establish a cryptocurrency exchange in 2023.
The Commodity Futures Trading Regulatory Agency, or Bappebti, oversees the trading of crypto assets in Indonesia alongside commodity contracts. According to Didid Noordiatmoko, acting chairman of Bappebti, the FSA will take over regulatory control of the assets over the next two years. This is a part of a larger financial sector reform, by which time the exchange ought to be established.
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Crypto assets in Indonesia
With another 151 assets and 10 local coins being evaluated by Bappebti, there are currently 383 crypto assets and 10 local coins that can be traded in Indonesia. Even though the crypto market saw a decline in activity in 2022, new investors are still pouring money into it. In the first eleven months of the year, there
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