Indonesian Launches Crypto Exchange and Clearing House

The Indonesian
commodities futures regulator has established the country’s official
cryptocurrency exchange as part of the efforts to regulate the fast-growing
digital asset space. Additionally, the regulator has established a clearing
house for digital assets.

The Commodity
Futures Trading Regulatory Agency (CoFTRA) made the announcement yesterday
(Thursday). In the statement, the regulator noted that it had established an
official platform for storing digital assets in the country.

The latest
development is part of the efforts by the CoFTRA to regulate the fast-growing digital asset
space. According to the market watchdog, the number of registered crypto
users in the country is 17 million from a population of approximately 300
million. The crypto bourse and clearing house were initially planned to be
launched before the end of 2021 but were postponed severally, the latest being
in June.

Commenting about
the launch of the new platforms in a statement
translated from Indonesian, the Head of the CoFTRA, Didid Noordiatmoko, said:
“The establishment of the exchanges, clearing
Clearing

Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th

Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th
Read this Term house, and managers of the crypto asset depository is a poof that the Indonesian government is present in an
effort to create a fair crypto asset trading system that guarantees…