Indonesia Finally Has a Crypto Exchange, Clearing and Crypto Asset Storage Manager

In developing and strengthening exchanges, clearing and managing crypto asset storage, CoFTRA does not work alone. CoFTRA requires collaboration from related ministries/institutions, particularly the Financial Services Authority (OJK), Bank Indonesia (BI) and the Ministry of Finance as well as the wider community. Going forward, the crypto industry and trading can continue to be developed and adapted to the needs of society and industry.

“Physical trading of crypto assets carries a fairly high risk. By their nature, the value of crypto assets can experience a very drastic increase or decrease in value in a short time. For this reason, a good understanding in the community is needed, including the benefits, potential and risks of trading crypto assets,” explained the Head of CoFTRA.

Developments in Physical Trading of Crypto Assets In June 2023, there were 141.8 thousand additional customers in crypto assets. This shows that the public’s interest in investing in crypto asset trading continues to grow.

As of June 2023, the number of registered crypto asset customers was 17.54 million. The physical trading transaction value of crypto assets during June 2023 was recorded at IDR 8.97 trillion, an increase of 9.3 percent compared to the previous month. The types of crypto assets that are widely traded are Tether (USDT), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Binance Coin (BNB).