The Trade Ministry of Indonesia had initially planned to set up a national cryptocurrency exchange by the end of 2022, but the ministry is now aiming to have the exchange set up before June 2023, according to a local news report.

The bourse is being set up as part of the regulatory reforms adopted by the Indonesian House of Representatives in December.

The Indonesian government is currently reviewing crypto exchanges that will be part of the national bourse. There are five active exchanges in the race out of the 25 exchanges that are registered with the Commodity Futures Trading Regulatory Agency, as per the report.