Home News Indonesia is going to change crypto rules for tighter monitoring.

Indonesia is going to change crypto rules for tighter monitoring.

The Indonesian government intends to assign crypto supervisors to Asian nations in order to provide better investment protection and to have crypto regulations aimed at monitoring and extreme security in digital transactions and the security of digital assets as a key responsibility.
Indonesian authorities intend to task the Financial Services Authority (OJK) with regulation, supervision and monitoring of cryptocurrency investments, lawmakers have prepared a legal draft and prepares to tighten regulation of crypto exchanges in the largest economy. ,
While crypto payments are illegal in Indonesia, investing in the commodity market is allowed. According to Finance Minister Mulyani, they need to create a mechanism of supervision and investor protection that is strong and reliable enough for high risk investors. The Indonesian Parliament recognizes the Bank of Indonesia’s responsibilities to look after not only price stability but also economic development. also want to increase. The Finance Minister expressed his support for the proposal and also stressed on the importance of maintaining the independence of financial regulators, especially the central bank. The main purpose of this monitoring is to facilitate crypto and protect customers.

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