The cryptocurrency exchange is targeting its launch this year


Jakarta, Duniafintech.com – Today’s cryptocurrency news is due to a review of cryptocurrency exchanges in Indonesia.

Cryptocurrency exchange was previously a hot topic of discussion. It is even rumored that it will be launched soon, but it has been delayed again.

This is recognized by the government due to the maturity of preparations for the launch of the stock exchange encryption The. Now, the Deputy Minister of Commerce of the Republic of Indonesia, Jerry Sambuaga, is again targeting the hack to be completed this year. Check out today’s cryptocurrency news review.

In 2022, Indonesian Crypto Exchange Set to Launch – Cryptocurrency News Today

The Deputy Minister of Commerce of the Republic of Indonesia, Jerry Sambuaga, has stated that Indonesia will have a crypto exchange due to be formed this year.

This exchange is one of the government’s efforts to address the development of crypto-asset trading in the country.

“Having this exchange is very important because there are many things to expect, for example money laundering and misfinancing like drugs and terrorism, and trade will be more regulated,” Jerry Samboaga said on the sidelines of the gathering. The 2022 Community Conference in Yogyakarta, last Saturday.

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If cryptocurrency exchange can be realized in Indonesia, then according to him, it will be the first crypto exchange in the world.

“Many countries are also interested in establishing the same exchange as South Korea because they also see the potential, opportunities and opportunities that can be achieved with the exchange,” he said.

Today's Crypto News

Cryptocurrency exchange for consumer protection

In addition to anticipating various commercial or financing actions with negative effects, Jerry also stated that the main purpose of establishing the exchange is to provide protection to consumers.

The highest priority is consumer protection. “The stock exchange is a tool to protect consumers,” Jerry said.

In 2021, the total transaction value of crypto assets will reach Rs.

Meanwhile, as of July 2022, the transaction value of crypto assets was recorded at IDR 232.45 trillion, down 51.43 percent compared to the same period last year.

The number of registered customers until July 2022 was 15.6 million customers, with an average increase in the number of registered customers of 690 thousand customers per month. The number of subscribers has increased rapidly compared to 2020, which amounted to about two million subscribers.

Therefore, he ensures that the process of configuring a crypto exchange is carried out carefully, not in a hurry, and ensures that all stages are passed correctly.

There are many requirements, procedures, and conditions that must be met to set up a crypto exchange. The government ensures that all phases are implemented in the correct manner so that the exchange proceeds well in accordance with the expected goals.

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Jerry reiterated that the cryptocurrency in Indonesia is not a means of payment but is included in the category of commodities so that its authority falls under the Ministry of Commerce.

Total Legal Assets of Cryptocurrency in Indonesia 383 Types – Cryptocurrency News Today

On the other hand, based on data from the Commodity Futures Trading Regulatory Agency or CoFTRA, there are currently 383 types of crypto assets being traded with 10 types of assets including local ones from Indonesia.

“Although the number is still small, it is likely that it will continue to grow and can support Indonesia’s trade balance of digital products,” he said.

So far, Indonesia still relies on five major products in its trade balance, namely CPO, coal, nickel, electronics, wood and its derivatives.

During 2021, Indonesia’s trade balance will reach $35.4 billion or the highest level since 2011, and by mid-2022 it will reach $24.89 billion and is expected to grow so well until the end of the year that it can exceed its value the previous year.

This is the review on today’s cryptocurrency news. We hope that the information about the speech on the formation of this cryptocurrency exchange will come true soon, so of course the protection of investors will be more assured.

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Read on for the latest Indonesian fintech and crypto news only at Duniafintech.com.

Author: Contributor / Shuhada Banji A



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