• Indonesia is planning to launch a national crypto exchange by June 2023.
• The new timeline comes after delays and the passing of the Financial Sector Development and Reinforcement Bill.
• The government has identified five active, registered exchanges from a list of 25 for the role.

Indonesia to Reveal National Crypto Exchange

The Indonesian government is planning to launch its national crypto exchange by June 2023, according to Trade Minister Zulkifli Hasan. The project was originally scheduled for December 2022 but due to delays, it was pushed back until now.

Omnibus Law Passed for Regulatory Oversight

In December 2020, lawmakers in the House of Representatives passed the Financial Sector Development and Reinforcement Bill. This omnibus law serves as a primary legal reference for the broader financial services industry in Indonesia and includes regulatory oversight of crypto exchanges.

Reviewing Digital Asset Exchanges

Currently, a review of digital asset exchanges that will join the national crypto exchange is ongoing. Out of 25 exchanges, five active and registered ones have been identified so far.

Growing Crypto Community in Indonesia

Indonesia has one of the fastest growing crypto communities in the world, which highlights the need for proper regulation and protection when launching this project. According to Trade Minister Zulkifli Hasan, rushing could lead to public harm instead of benefit if people are still learning about cryptocurrency trading at large.

Conclusion

With these developments in place, Indonesia’s ambitious plan to have its own national crypto exchange could soon become reality within just a few months‘ time!