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.
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.