Indonesia passes new cryptocurrency trading rules

18 Feb 2019

Indonesian financial institutions has recognised crypto-assets as a commodities that can be traded on futures market. The Commodity Futures Trading Regulatory Agency, part of the Ministry of Trade, sets the new set of rules for trading crypto-assets on futures exchanges. Under the new regulation cryptocurrency futures exchanges needs to be registered, and approved from the central financial watchdog. Exchanges would need to meet requirements of pay-up capital in worth of $105 million, (1.5 trillion rupiah) and maintain the closing capital balance up to USD $85 million (800 billion rupiah). Trading services would also need to comply with the full anti money-laundering (AML) and combating the financing of terrorism (CFT) framework.

Regulatory agency issued the full document detailing the requirements [link on Bahasa language]. This new set of legislations moved the country toward more open and regulated approach with crypto-asset regulation.

Explore the issues

The digital currencies story is a continuation of the long-running saga of economics, markets, and commodity exchange in human society. With the constant rise of the global network, we have witnessed many global services becoming widely accepted and in a way changing (by adding to) our experience of mutual interaction.

 

The GIP Digital Watch observatory is provided by

 

 

and members of the GIP Steering Committee



 

GIP Digital Watch is operated by

Scroll to Top