Indonesian Crypto Growing Rapidly, But Facing Various Challenges

Todaysgist, News CFX, the only government-regulated crypto exchange in Indonesia, continues to demonstrate its commitment to strengthening the ecosystem and encouraging the adoption of crypto assets in the country.

As part of the Coinfest Asia 2024 series of events, CFX held a sharing session with Bappebti and its members to discuss strategies for strengthening the crypto ecosystem in Indonesia and the importance of collaboration between stakeholders.

“CFX’s presence in Indonesia provides security and convenience for crypto asset traders and investors. We embrace all industry players to jointly accompany the development of a healthy and sustainable crypto ecosystem,” said CFX President Director, Subani in a written statement in News, Wednesday (28/8/2024).

The crypto ecosystem in Indonesia is currently in a rapid development stage, but still faces various challenges. Strengthening this ecosystem is highly dependent on good cooperation between the government, industry players, and supporting institutions such as the Crypto Market Self-Regulatory Organization (SRO).

The integration of Crypto Market SROs, in this case Crypto Exchange, Clearing, and Custodian, is a concrete example of how this synergy can create a safer and more trustworthy environment for investors.

Head of Bappebti, Kasan, explained that the role of SRO in this case the Crypto Asset ecosystem is very vital in ensuring that every transaction and crypto trading operation runs in accordance with established standards and regulations.

“With the presence of SRO institutions in the Crypto Asset Ecosystem, we can more easily supervise and ensure that crypto asset traders run their businesses in accordance with applicable regulations. In addition, we must also prioritize maximum protection for investors,” explained Kasan.