Indonesia’s Stock Market and Crypto Exchange Now Operational

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Indonesia’s Stock Market and Crypto Exchange Now Operational

After multiple delays, Indonesia’s stock market and clearing house for digital assets is now operational, according to a Thursday announcement from the country’s commodities regulator. The long-awaited Nasdaq-style bourse for crypto has been operational since July 17, with the government initially planning to start operations by the end of 2021.

Didid Noordiatmoko, head of the Indonesian Commodity Futures Trading Supervisory Agency (Bappebti), said in a statement to the press: The establishment of exchanges, clearing houses and managers of crypto asset storage is proof that the government is present in an effort to create a fair and fair crypto asset trading ecosystem to guarantee legal certainty and prioritize protection for the public as customers.

Bappebti will work with the country’s Financial Services Authority (OJK), the central bank and the Ministry of Finance in running the platform. According to Noordiatmoko, the crypto exchange is designed to help the local industry run smoothly and mitigate crypto-related risks. Indonesia has emerged as a fast adopter of crypto assets, with the government showing interest in growing the sector to benefit the local economy and the country’s global exposure.