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The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for bankruptcy in the United States and was subjected to investigations by regulatory bodies around the world. Indonesian Authority Orders Crypto Exchanges to Discontinue FTX Token … Read more
The government of Indonesia wants to assign crypto supervision to the Asian nation’s financial watchdog in order to ensure better protection for investors. The move is part of a planned overhaul of regulations in the sector aimed at increasing oversight of the expanding digital assets market. Indonesia Mulls Over New Financial Legislation Designed to Tighten … Read more
The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End Indonesia’s monetary authority is … Read more
With over 270 million people, Indonesia is the fourth-most populous country in the world and its economy is one of the largest markets in Asia. It also has a large unbanked population, a receptive regulatory environment and additional factors making it stand out for crypto adoption. In the latest episode of the News Podcast we … Read more
Indonesia’s Financial Services Authority (OJK) has prohibited financial firms from using, marketing, and/or facilitating crypto trading. The financial regulator also cautioned the public to always beware of fraudulent Ponzi schemes under the guise of crypto. Indonesian Regulator’s Crypto Warning Indonesia’s Financial Services Authority (OJK), the Jakarta-based government agency which regulates the financial services sector, warned … Read more
Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees … Read more
A provincial branch of one the largest Islamic organizations in Indonesia has declared cryptocurrency “haram,” or forbidden under religious law. The decision came after a “heated discussion” joined by a crypto expert who was invited to explain in detail the practice of using digital coins. Cryptocurrency Deemed ‘Haram’ in Indonesia The local branch of the … Read more
Authorities in Indonesia do not intend to follow China’s example of imposing an outright ban on cryptocurrencies, a government official said, noting the country will limit itself to ensuring they are not used in illegal activities. The statement comes after local crypto exchanges registered a serious increase in turnover this year. Indonesia to Tighten Regulations … Read more
The peer-to-peer (P2P) markets have seen a dramatic increase in Iranian and Indonesian trade activity, with both markets posting triple-digit volume gains in recent weeks. Localbitcoins volume has also surged in select Latin American markets this past week, with the Dominican Republic, Colombia, and Venezuela posting some of their strongest trade on record. Also Read: … Read more
Indonesian unicorn Go-Jek has announced a partnership between the company’s payments platform, Go-Pay, and Filipino cryptocurrency wallet Coins.ph. Local media has reported that the deal will see Coins.ph continue to run as usual, despite Go-Jek now owning a majority stake in the company. Also Read: Executives of Korean Exchange Sentenced to Jail for Faking Volumes Go-Jek … Read more
