Indonesia is tightening its grip on cryptocurrency operations, introducing mandatory registration with the national exchange. This move, fueled by local demand, aims to bring transparency and control to the crypto space. However, crypto exchanges must act swiftly to meet the August 17, 2024, deadline, or face automatic suspension from operations in Indonesia
SanyaThe opening of this new exchange is intended to protect consumers, and will function as a futures clearing house as well.
ClementThe project, which has been in progress since December 2021, gained momentum with the endorsement of Pang Hue Kai, CEO of Tokokrypto, a licensed Indonesian crypto exchange partly owned by Binance.
Coinlive Trillions of dollars of assets could be tokenized by the end of the decade, according to Citi researchers.
TheBlockDamage from FTX fallout has been widespread and Robinhood’s near-term outlook appears to be gloomy.
cryptopotatoIncreased crypto regulation could drive users to decentralized platforms, the bank said.
CoindeskThe country sees the tokens as a way to boost its economy.
CoindeskETH token issuance is estimated to drop 90% to around 600,000 a year, the bank said.
Coindesk"Ultimately the cryptocurrency may be liquidated if the collateral value falls below a certain threshold, such as 35% of the property value,” said the report.
CointelegraphThe Indonesian government is reportedly still figuring out how to implement a cryptocurrency tax, but legislation passed in response to the pandemic lays the groundwork for it.
Cointelegraph