Government to Introduce Crypto Exchange

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Mahinda Arkyasa

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  • TEMPO.CO, Jakarta - The Indonesian Deputy Minister of Trade Jerry Sambuaga, announced on Thursday, March 25, 2021, that the Ministry will provide digital currency or cryptocurrency with its own crypto exchange in the near future. He claims that this crypto-exchange they plan to establish will be able to accommodate crypto assets that will also be used as cryptocurrency trade regulators. 

    "In the near future, maybe within the coming months, or maybe even next month there will be an exchange especially regulating and accommodating the trades of these crypto commodities," said Jerry in a webinar concerning the future of crypto assets.

    The government has pitched such an idea to accommodate a decentralized currency because of the promising potential that the crypto market hones. He cited a record about last year’s crypto assets trades that amounted to IDR 64 trillion. 

    As of February 2021, crypto trade value in Indonesia is claimed to reach IDR 70 trillion, which the Deputy Minister said is a very significant amount of value. 

    "What this means is that it shows the future direction that digital assets, digital commodities can be an alternative. Or this could even be the main pillar to increase our trade," said Jerry. The formation of this crypto exchange is believed to broaden the market and benefit Indonesia. 

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