Listen! The Process of Establishing the Indonesian Crypto Exchange

The stock investment business world has an Indonesian Stock Exchange which provides facilities for buying and selling shares. However, there is currently no Indonesian Crypto Exchange.

Many Crypto business enthusiasts want an Indonesian Crypto Exchange. However, what is the Indonesian Crypto Exchange and its benefits?

This time, VCGamers will discuss the Indonesian Crypto Exchange, the date of formation, and the process for establishing this institution in Indonesia.

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Get to know the Indonesian Crypto Exchange

According to Jerry Sambuaga as Deputy Minister of Trade, the Indonesian Crypto Exchange will later make it easier for all crypto transaction parties such as businesses and consumers.

The purpose of this Crypto exchange is to provide a good digital experience, stimulation and ecosystem and increase the trust of transaction actors such as consumers and business actors.

The structure of this crypto exchange will later be similar to the Indonesian Stock Exchange or IDX for the stock business world. In it, there will still be elements of the business world.

Business actors will jointly develop the development of Crypto asset trading in Indonesia thanks to the Crypto Exchange.

After learning about crypto exchanges, let's see when a Crypto exchange will form in Indonesia!

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Indonesian Crypto Exchange Formation Date

Previously, the crypto exchange would be present at the end of 2021 as planned. However, there were various obstacles and finally the formation of the crypto exchange became the end of the 1st quarter of 2022.

However, until now there has been no certainty and further information regarding when a crypto exchange will be built in Indonesia.

According to Tirta Karma Senjaya as the Head of the Bureau of Development and Market Development of CoFTRA, the process of creating the Indonesian crypto exchange is still in progress. Until now, there has not been a definitive head of CoFTRA so that definitively it is still vacant.

However, currently there has been a demonstration of the new Acting Head of CoFTRA, so that CoFTRA's administrative and operational activities continue as usual.

Since some time ago, Indonesia has been reported to have a crypto exchange. However, there is currently no news regarding the formation date of the exchange.

According to Jerry Sambuaga, his party is also trying to launch the crypto exchange. However, there is an element of caution from various parties such as CoFTRA, especially in terms of requirements.

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Formation Process

Although there is no definite date for when the crypto exchange in Indonesia will be present. However, CoFTRA continues to make various innovations to keep up with the increase in the physical market trading of Crypto assets.

According to Bappebti, this is proven by the Commodity Futures Trading Supervisory Agency Regulation or Perba Number 11 of 2022. The Perba concerns the Establishment of a List of Crypto Assets in the Physical Crypto Asset Market.

According to Acting Head of CoFTRA namely Didid Noordiatmoko, Perba has accommodated the needs of crypto asset traders in Indonesia. This is also in accordance with the growth in the transaction volume of Crypto assets and increasing customers.

Therefore, crypto exchanges are required to provide protection for consumers. This crypto exchange should make it easy for all parties including traders and consumers.

According to Jerry Sambuaga as the Deputy Minister of Trade, all matters relating to the stock exchange will be completed this year. Various requirements must also be met and hopefully the crypto exchange will be implemented.

Thus the discussion about the Indonesian crypto exchange. For gaming top up needs, come on VC Market by VCGamers!