Jakarta (ANTARA) - The Trade Ministry and the Commodities Futures Trading Regulatory Agency (Bappebti) have launched the first crypto exchange in Indonesia as part of an effort to provide a security guarantee to crypto asset players.

During the launch ceremony of the Crypto Assets Futures Exchange in Jakarta on Friday, Trade Minister Zulkifli Hasan said that the establishment of the exchange reflects the government's commitment to providing business certainty and creating a fair crypto asset trading ecosystem.

The newly launched exchange will also provide clear regulations to protect the people, as consumers, and give them a sense of safety in crypto transactions, which could contribute to the country's economy and trade.

"With a comprehensive ecosystem, the public will feel safe to invest in crypto assets that, in turn, will benefit the national economy," he said.

Meanwhile, head of Bappebti, Didid Noordiatmoko, said that in the last five years, Indonesia has experienced a remarkable development in crypto asset trading activities.

As of June 2023, the number of people investing in crypto assets in Indonesia reached 17.54 million, or 490 thousand people per month on average. This trend demonstrates people's increasing interest in investing in crypto assets.

Noordiatmoko emphasized that the most important aspect of asset crypto exchanges is the protection of players. Therefore, he called on crypto business actors to run the crypto industry in compliance with the prevailing regulations and laws.

"We hope that all related parties in the crypto asset industry will run the industry in accordance with the applicable regulations and laws by prioritizing the protection of the consumers," he pointed out.

Indonesia's first crypto exchange was established based on Bappebti Head's Decree No. 01/BAPPEBTI/SP-BBAK/07/2023 of July 17, 2023, concerning the approval for PT Bursa Komoditi Nusantara or the Commodity Future Exchange (CFX) as a Crypto Asset Futures Exchange.

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Translator: Maria Cicilia, Tegar Nurfitra
Editor: Azis Kurmala
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