Indonesia plans to set up a crypto stock exchange in 2023, ahead of moving regulatory powers to securities authorities from a commodities jurisdiction, according to a Bloomberg report.
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- Currently, Indonesia’s Commodity Futures Trading Regulatory Agency, also known as Bappebti, regulates crypto trading in the Southeast Asian nation.
- Bappebti acting head Didid Noordiatmoko said on Wednesday that over the next two years, the Financial Services Authority will take over regulatory oversight of the assets.
- Indonesia had earlier announced a 2021 launch of the crypto stock exchange but revised it to the end of 2022 citing complexities in the process.
- Indonesia has about 25 licensed crypto trading companies under Bappebti.
- Indonesia is also keen on establishing a central bank digital currency and has released a whitepaper to develop a digital rupiah.
- See related article: Indonesia’s biggest tech firm buys local crypto exchange