2023 will see key reforms in Indonesia’s crypto industry. As a part of this reform, the island nation will launch an exchange later this year, which would be launched ahead of a major shift in the country’s crypto industry. 

According to a report published by Bloomberg on 4 January, the Commodity Futures Trading Regulatory Agency of Indonesia, also known as Bappebti, will relinquish its oversight of crypto assets to the Financial Services Authority, a securities-focused agency. 

Didid Noordiatmoko, the acting head of Bappebti, stated that the FSA will assume regulatory power over crypto assets from the commodities agency over the next two years. During this time, Indonesia will set up a crypto exchange. 

(by Suzuki Shillsalot)