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

See related article: Binance acquires Indonesian crypto exchange Tokocrypto

Fast facts

  • 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