With a population of 270 million, Indonesia has taken a significant step toward formalizing its cryptocurrency ecosystem. The country's Commodity Futures Trading Regulatory Agency (Bappebti) announced on July 20 the official launch of three state-led institutions:
- PT Bursa Komoditi Nusantara (National Cryptocurrency Exchange)
- PT Kliring Berjangka Indonesia (Futures Clearing House)
- PT Tennet Depository (Crypto Asset Custodian)
These entities will operate under the supervision of the Indonesian Commodity Futures Trading Regulatory Agency (CoFTRA), collaborating with the Financial Services Authority (OJK), Bank Indonesia (BI), and the Ministry of Finance to advance cryptocurrency adoption.
Crypto Investments Outpace Traditional Securities in Indonesia
Despite banning cryptocurrencies as payment tools, Indonesia permits crypto investments. Recent data reveals:
- 17.54 million Indonesians have invested in cryptocurrencies (as of June 2023).
- This figure exceeds the number of registered stock market investors.
Deputy Trade Minister Jerry Sambuaga emphasized the government's focus on consumer protection, prompting the creation of a national exchange. Originally slated for 2021, the launch faced delays due to regulatory complexities. Now, all crypto transactions must occur through the official exchange.
Indonesia Prioritizes Local Crypto Projects
CoFTRA disclosed the following statistics:
✅ 383 approved crypto assets
✅ 10 locally issued tokens
✅ 151 crypto assets + 10 tokens under review
Didid Noordiatmoko, Head of CoFTRA, highlighted Indonesia’s preference for homegrown projects with international potential. All listings require final approval from Bappebti.
FAQs
Q: Can Indonesians use crypto for payments?
A: No. Cryptocurrencies are banned as payment tools but allowed for investment.
Q: How many Indonesians invest in crypto?
A: Over 17.54 million—more than stock market investors.
Q: What’s the goal of the national exchange?
A: To centralize trading, enhance security, and support local projects.