Indonesian crypto regulation tightens up with new limitations that are planned to restrain financial companies' operations with digital assets
Trading of cryptocurrencies and digital assets in Indonesia was on the rise since 2021. The transactional volume on the country's market has reached almost $60 billion, or 859 rupiahs. Back in 2020, the trading volume for the digital assets market in the country in 2020 was staying at approximately 60 trillion rupiahs, per ministry data. assets on a commodities exchange. The process of exchange is supervised by the trade ministry and the Commodity Futures Trading Regulatory Agency.
Further control and regulation are expected to appear on the market after the creation of the Digital Futures Exchange that is expected to be launched in the first quarter of the year. The initiation of a separate exchange for digital assets will allow the regulator to more effectively oversee the industry.Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.
Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.
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