In July 2023, the Indonesian crypto market finally came full circle when the current Indonesian crypto regulator (the Commodity Futures Trading Regulatory Agency or Badan Pengawas Perdagangan Berjangka Komoditi (“Bappebti“)) approved PT Bursa Komoditi Nusantara to run the crypto asset bourse. Concurrently, PT Kliring Berjangka Indonesia and PT Tennet Depository Indonesia have been approved as the crypto assets clearing house and crypto asset custodian, respectively.
Since the crypto market in Indonesia became regulated in 2019, the crypto community has eagerly anticipated the establishment of the above three key institutions. Now that all the key institutions in the Indonesian crypto market are in place (i.e., crypto assets bourse, clearing house, custodian, and broker), we expect the market and consumers to witness enhanced transparency and safety.
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