Indonesia Set to Unveil National Crypto Exchange by June: Protecting Investors

• Indonesia is set to launch a national crypto exchange in June 2023.
• The country initially planned to launch the crypto bourse before the end of 2022.
• The new timeline comes after new developments and other official delays forced the relevant government bodies working on the project to push the launch from the originally envisaged rollout of December 2022.

Indonesia To Unveil National Crypto Exchange By June

The Indonesian government has announced plans to unveil its national crypto exchange by June 2023, after pushing back its original launch date due to delays caused by regulatory developments and other official issues.

Planned Timeline For Launch

Initially, Indonesia had planned to launch the crypto bourse before the end of 2022, however, this was delayed due to various factors such as regulatory oversight and review of digital asset exchanges earmarked for inclusion on the bourse. As a result, the government has now identified five active and registered exchanges from a list of 25 which will be included when it launches in June.

Omnibus Law Enacted To Regulate Exchanges

The Financial Sector Development and Reinforcement Bill, referred to as an omnibus law, was passed in December 2020 by lawmakers in Indonesia’s House of Representatives. This law serves as a primary legal reference for financial services industry within Indonesia and covers areas such as regulatory oversight for crypto exchanges.

Protection Of Investors And Consumers A Priority

Commenting on the upcoming bourse, Indonesia’s Trade Minister Zulkifli Hasan said there is need for everything to be done correctly in order to protect investors and consumers who are still learning about trading cryptocurrencies.

Growing Crypto Landscape In Indonesia

The Indonesian government is taking steps towards creating a safe environment for cryptocurrency trading within its borders while at the same time promoting innovation within its growing crypto landscape.