Indonesia to Start Crypto Exchange Ahead of Regulatory Shift

Indonesia plans to set up a crypto exchange this year before it shifts regulatory powers over such assets to the Financial Services Authority, from a commodities agency.

Crypto assets in Indonesia are currently traded alongside commodity contracts under the supervision of the Commodity Futures Trading Regulatory Agency, known as Bappebti. As part of a broader financial sector reform, the FSA will assume regulatory power over the assets over the next two years, by which time the exchange should be set up, said Bappebti acting head Didid Noordiatmoko on Wednesday.