Indonesia, or officially the Republic of Indonesia, is a state in Southeast Asia. Indonesia is the fourth largest country in the world by population and it is one of the most perspective countries for economic development. In terms of cryptocurrency, Indonesia’s central bank announced that cryptocurrency was illegal in 2017 and, after that, there were meetings conducted with the aim of creating regulations of the cryptocurrency market. Currently, Indonesia’s Bitcoin market is less than one percent of the global cryptocurrency market. There are two Indonesian Bitcoin exchange platforms. However, they sell Bitcoin only at a fixed price. Nevertheless, Indonesian authorities have recently claimed a neutral position about cryptocurrency in Indonesia.
The U.K., the U.S, Hong Kong and Singapore have the largest number of registered digital currency exchanges, per a recent report.
New Study Reveals Countries With Most Registered Crypto Exchanges
Facebook-owned WhatsApp is in early talks with local firms to launch digital payments service in Indonesia.
Facebook-Owned WhatsApp Looks to Launch Digital Payments in Indonesia
The United States sees the most traffic to cryptocurrency exchanges, according to recent research.
US, Japan Top Sources of Traffic to Crypto Exchanges Globally: Study
Singapore-based blockchain firm PLMP Fintech joined a multi-million logistics project in partnership with Indonesian authorities.
Indonesia to Improve Its Shipping Industry With New Multi-Million Blockchain Project
Indonesia’s Commodity Futures Trading Supervisory Agency adopted a legal framework for crypto futures trading.
Indonesia’s Commodity Futures Regulator Releases Regulation for Crypto Futures Market
New legislation introduced in Indonesia recognizes cryptocurrencies as trading commodities and gives legal certainty to crypto exchanges.
Indonesia: New Legislation Recognizes Crypto as Trading Commodity
New regulation requires those looking to offer futures trading to have a starting capital of over $70 million.
Indonesia: $70 Million Capital Requirement for Bitcoin Futures Sparks Anger