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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- 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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