Indonesia Promotes A National Cryptocurrency Exchange In 2023 After The Fall Of FTX
According to Bloomberg News, Indonesia’s Commodity Futures Trading Authority oversees digital assets and plans to set up a state-backed cryptocurrency exchange in the coming weeks. This year and private platforms will execute transactions on the exchange.
Indonesia is relying on the structure of the stock market to reform cryptocurrency exchanges and reduce the risks caused by the collapse of the digital asset exchange FTX. As previously reported, in February of this year, Indonesian Trade Minister Zulkifli Hasan announced that he hopes to have a cryptocurrency exchange by June 2023.Other planned state-backed agencies will handle clearing and custody to protect assets and avoid any repeat of the alleged fraud at FTX.
Source
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