<p><span style="font-weight: 400;">Indonesia plans to establish a national crypto exchange amid broader financial sector reform.</span></p> <p><span style="font-weight: 400;">Crypto assets are supervised by Indonesia's Commodity Futures Trading Regulatory Agency, Bappebti. Over the next two years, the Financial Services Authority will take over the supervision of crypto, Didid Noordiatmoko, Bappebti’s acting head, <a href="https://www.bloomberg.com/news/articles/2023-01-04/indonesia-to-start-crypto-exchange-ahead-of-regulatory-shift">said</a> on Wednesday.</span></p> <p><span style="font-weight: 400;">The national crypto exchange should be set up by the time the agencies switch regulatory power over crypto, Noordiatmoko added, as reported by Bloomberg.</span></p> <p><span style="font-weight: 400;">Indonesia is making broader strokes to take a stance on crypto. In November, the central bank </span><a href="https://www.bi.go.id/en/rupiah/digital-rupiah/Documents/White-Paper-CBDC-2022_en.pdf"><span style="font-weight: 400;">published</span></a><span style="font-weight: 400;"> a report on central bank digital currencies and started its <a href="https://www.theblock.co/linked/105950/indonesia-plans-central-bank-digital-currency-cbdc" target="_blank" rel="noopener">plan</a> to launch one in 2021.</span></p> <p><span style="font-weight: 400;">Cryptocurrencies are currently banned as a payment method in the country, but it is legal to trade them.</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>