Indonesia to Launch a Government-Controlled Crypto Stock Exchange by the End of 2022

According to a report by DealStreetAsia, Indonesia's deputy trade minister Jerry Sambuaga has confirmed the establishment of a government-controlled crypto stock exchange.

Scheduled previously for 2021, the launch of the platform has been postponed to the end of this year due to the complexities of the process. The preparations include selecting and validating entities, as well as resolving questions related to minimum capital requirements.

Seeing the rise of interest in digital currencies, the Indonesian government aims to protect consumers by launching its own crypto stock exchange. The event will also become a big step towards crypto adoption in the country. Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has already licensed around 25 crypto trading companies. Besides, last month it stopped issuing registration certificates for crypto asset traders.