The Indonesian Government takes a step back to return to its plan of setting and promoting digital currency exchange, promised in 2021. Hence, as it is named, the "Crypto Bourse" is all set to launch by the end of 2022.
The first announcement of the Crypto Bourse was made in 2021, stating it to be a joint venture between Telkom Indonesia, a public telecommunication company, and Binance, the largest crypto exchange company in Indonesia.
Jerry Sambuaga, the Deputy Trade Minister of Indonesia, confirmed the launch of Crypto Bourse at the NCX International Summit 2022 in Bali. He claimed the country is still preparing for the launch of the crypto bourse, stating additional preparations as the reason for its delay.
The Minister also confirmed that the government would take care of all the requirements, procedures, and steps needed in launching Crypto Bourse. While Sambuaga's speech ignites hope amongst investors, it also indicates the Indonesian Government being careful in launching the Crypto Bourse.
They are ticking all the boxes of safety and security to avoid freak accidents. Sambuaga claims the launch of Crypto Bourse does not end the preparations. It would be a step to promote further preparatory actions like fixing the entities that the bourse can include and minimizing the requirements for each.
Crypto experts are seeing the launch of Crypto Bourse with great hopes and enthusiasm. Pang Hue Kai, one of the 25 exchanges licensed in Indonesia, calls the Crypto Bourse a catalyst in the Indonesian crypto market. He further expects the rise in participants, communities, and crypto exchange interests after the Crypto Bourse launch. No wonder it is all set to boost industries and promote local projects.
Indonesia awaits the launch of the Crypto Bourse by the end of 2022, as promised by the Indonesian Government with great enthusiasm. The project will ignite crypto transactions and boost the interest of investors to increase the rate of population handling digital assets in the country.