Indonesia is reportedly set to open a crypto-currency exchange by the end of 2022, a government official has announced. For the Indonesian deputy minister of commerce, Jerry Sambuaga, the initiative reflects the government’s concern for the protection of consumers, who have an exponential interest in digital currencies.
Originally planned for 2021, the launch of the exchange has been delayed due to the complexity of the process.
In 2021, crypto-currency transactions in Indonesia increased by 1224% to over $57 billion (859.4 trillion Indonesian rupiah) from $4.2 billion (64 trillion rupiah) in 2020.
Between January and June 2022, Indonesia counted more than 15 million crypto-currency users. Indonesia allows the use of crypto-currencies for virtual commerce, but does not recognise it as an official payment instrument, unlike a country like El Salvador.
Read also > Economy: The Indian boom through stock market fluctuations
Featured photos : © Press
