Indonesia banned financial firms from supporting cryptocurrencies
The warning followed similar actions by the central banks of Thailand and Singapore

25.01.2022 - 12:15
267
1 min
0
What’s new? Indonesia’s Financial Services Authority (OJK) has warned that financial companies are prohibited from offering and facilitating sales of cryptocurrencies. This is stated in the regulator’s statement posted on Instagram.
What does Indonesia’s Financial Services Authority say? The regulator warned that crypto assets are highly volatile and that people buying them should fully understand the risks.
. Cryptocurrency trading in Indonesia is booming, with the total volume of transactions reaching 859 trillion Indonesian rupiah (IDR) in 2021, up from 60 trillion IDR in 2020. In Indonesia, crypto assets are allowed to be sold on a commodity exchange, and trading is controlled by the Ministry of Trade and the Commodity Futures Trading Regulatory Agency, not by the OJK.
What is the situation with exchanges in the country? Binance is in talks with Indonesian billionaire brothers Budi and Michael Hartonos. If the parties strike a deal, it will be Binance’s second cryptocurrency venture in Indonesia.
Useful material?
Trends
The investment company VanEck believes that in the coming year, the project will take third place in capitalization among crypto projects
Dec 8, 2023
Market
The asset will be distributed among the network participants by airdrop
Dec 8, 2023
Incidents
Do Kwon has filed an appeal against the extradition decision, and the official position of the agency will be announced at a later date
Dec 8, 2023
Market
The owner of the address mined the coins early in the development of the network, at the time they were worth about $100
Dec 7, 2023
Incidents
Anatoly Legkodymov also dropped his claims to the arrested assets
Dec 7, 2023
Trends
The capitalization of the asset grew by more than 36% per day
Dec 6, 2023