Indonesia's Ministry of Tourism and Creative Economy has partnered with privacy firm Quantum Temple to preserve the country's cultural heritage using NFTs. The platform is working with the ministry to tokenize tangible and intangible cultural heritage as unique digital assets, said CEO Linda Adami. She said the technology could create "immutable archives of culture, transparent alternative income streams through royalties, verified provenance and recognition for cultural creators". However, regulatory uncertainty in the region could create friction, said Muhammad Neil El Himam, deputy chairman for digital economy and creative products in Indonesia’s Ministry of Tourism and Creative Economy.

Fasset, a blockchain-based commodities financing platform, is hoping to win a license from the Indonesian government to operate in the country. The license would allow Fasset to offer its services to Indonesian businesses and individuals, and would provide a significant boost to the company's growth and expansion plans.

Alchemy Pay has obtained a license from the central bank of Indonesia to operate remittances and fund transfers in cooperation with the local fintech Berkah Digital Pembayaran.

Indonesia is drawing on stock market structure to improve crypto trading and mitigate risks exposed by the collapse of the FTX digital-asset exchange.

Indonesia has delayed the roll out of a stock exchange for digital asset companies to later this year, CoinDesk Indonesia reported on Friday.

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.

Indonesia has plans to launch a national crypto exchange this year before it hands over regulatory oversight of the industry to its Financial Services Authority.

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. 

As a part of its reform of crypto regulation, Indonesia will create a crypto exchange in 2023, according to reports. The platform is planned to be launched prior to a shift of regulatory power from commodities to securities authority. 

Indonesia plans to set up a crypto exchange this year before it shifts regulatory powers over such assets to the Financial Services Authority, from a commodities agency.