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Indonesia’s stock exchange and clearinghouse for digital assets are finally up and running after multiple delays, according to an announcement Thursday from the country’s commodities regulator.
The government originally planned to start operations by the end of 2021, but subsequent delays, most recently in February, saw the launch pushed back. The long-awaited Nasdaq-style exchange for crypto has been operational since July 17, according to the announcement.
“The establishment of crypto asset exchanges, clearinghouses and storage managers is proof that the government is there in an effort to create a fair and equitable crypto asset exchange ecosystem to ensure legal certainty and prioritize the protection of the public as customers,” Didid Noordiatmoko, head of Indonesia’s Commodity Futures Monitoring Agency (Bappebti), said in a press release.
Bappebti will work with the country’s Financial Services Authority (OJK), central bank, and finance ministry to run the platform, CoinDesk Indonesia reported. According to Noordiatmoko, the crypto exchange is designed to help local industry run smoothly and mitigate crypto risks.
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