Indonesian government to launch a cryptocurrency exchange

Indonesian authorities will establish a platform for cryptocurrency trading by the end of the year. According to Deputy Minister of Commerce Jerry Sambuaga, the initiative aims to protect investors amid growing interest in digital assets, writes DealStreetAsia.

Initially, the crypto-exchange was going to launch in 2021, but the project was postponed: Sambuag attributed the decision to the scrupulous preparation of all processes - selection and verification of participants to meet the requirements.

By June, the local regulator BAPPEBTI estimated that the number of cryptocurrency users in the country had reached 15.1 million. The turnover of digital assets in 2021 amounted to 859.4 trillion rupees ($57.6 billion).