Following the launch of Indonesia’s National Crypto Exchange, Head of the Commodities Futures Trading Regulatory Agency (Bappebti) Didid Noordiatmoko has announced that crypto traders have until August 17, 2023 to register on the exchange, according to reporting from Antara News.
Noordiatmoko said that the the crypto exchange has been launched to increase the interest of crypto asset owners, not the other way aroundand registrations aim to strengthen the supervision and security of crypto asset trading so that the ecosystem remains fair.
“(We target that) by August, (crypto assets) should all be listed on the bourse. However, some things are still being discussed, including the cost,” he said.
Crypto traders will be able to continue making transactions until the registration date closes. Bappebti will not immediately revoke their business license if the crypto traders do not register within a month.
“We will remind them to register on the bourse, and we do not give sanctions easily,” he said.
Bappebti has involved the crypto association in determining the rules of the exchange, such as transaction fees. The agency will also draft regulations regarding transactions on the crypto exchange for one month, say Antara News.
However, Bappebti does not want to interfere too much with the transaction fee regulation, as this matter must be discussed between business actors, Noordiatmoko said.
“In good governance, we are only the regulator so that these business actors can advance. We do not regulate too much there; we just make the channels,” he added.
On a separate occasion, Deputy Minister of Trade, Jerry Sambuaga, said he is optimistic that the National Crypto Exchange will be competitive with other exchanges abroad.
“Looking at the data, the transaction volume of people investing in crypto in 2021 was IDR 859.4-trillion (USD 56.9-billion), per day it was IDR 2.3-trillion he said at the Conference on National Strategic Projects on Thursday.
Source: Antara News
