Jakarta, CNBC Indonesia – The Ministry of Trade (Kemendag) will establish a stock exchange crypto- at the end of the year. The exchange is a platform for overseeing cryptocurrency trading.
“Regarding crypto, at the end of the year a crypto exchange will be established at the latest,” said Deputy Minister of Trade Jerry Sambuaga in a Working Meeting of the Ministry of Trade with Commission VI of the Indonesian House of Representatives broadcast on Youtube Commission VI of the Indonesian House of Representatives, Monday (31/5/2021).
Jerry’s view is that there should be a lot of cryptocurrency circulation in the country, rather than abroad. He explained, currently digital currency transactions in Indonesia have reached Rp 1.7 trillion per day. According to Jerry, this fact can be a source of state income.
In its implementation, the crypto exchange will later be regulated by the Futures Trading Regulatory Agency (Bappepti). Because of its form, this cryptocurrency is included in a commodity asset, not a currency or exchange rate.
“Many say that crypto assets can be used as currency. That’s not the case. Because according to the applicable law, our currency or exchange rate is the rupiah. Therefore, the center of regulation is CoFTRA. We know the BI money market, the OJK capital market, this is crypto. at Bappepti,” he explained.
Furthermore, the Golkar Party politician said he was proud because there were already many crypto communities in the country.
“Why do you have to play outside? If this exchange is made later, Indonesia will be the first country where the government regulates the crypto exchange,” said Jerry.
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