TEMPO.CO, Jakarta - The Futures and Commodity Trading Regulatory Agency (Bappebti) will inaugurate the Indonesian crypto exchange which is scheduled for July 2023. Bappebti head Didid Noordiatmoko said that once the exchange is launched, all crypto transactions can only be done through the exchange.

"Yesterday we agreed on the stock exchange rules. So the know your customer (KYC) process and all kinds have been regulated there," he said when met at his office, Central Jakarta, on Wednesday, July 12.

The trading, he said, will be done through each integrated application. CoFTRA has also conducted an integration test. For the crypto coins to be sold, Didid said, Bappebti wants them to be local but still abreast of international market developments, including the question of prices, provided they are approved by Bappebti.

He said that Bappebti had made preparations ahead of the launch of the crypto exchange. "Yesterday we conducted system integration tests between traders, exchanges, clearing, and depository," he said.

The Bappebti, he said, had also written to Trade Minister Zulkifli Hasan and reported plans regarding the crypto exchange. If there are no other instructions, Didid will sign the permit, which will give licensed traders one month to join the exchange.

MOH KHORY ALFARIZI | CAESAR AKBAR

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