Tags: Indonesia

Indonesian Authorities Raid Ten Crypto Mining Facilities for Energy Theft

Tuhu Nugraha, who works with the Indonesian government, said the country will soon conduct trials on applying blockchain technology in public service use cases.

Blockchain intelligence platform TRM Labs revealed that Tether (USDT) on the Tron network was being used for most of the transactions.

Today in Crypto: US Justice Department Revamps National Crypto Enforcement Team, Wormhole Releases Gateway Developed within Cosmos, Indonesia‘s Stock Market and Clearing House for Digital Assets Finally Operational

The platform, monitored by local regulators, will be the only space in the country where the legal exchange of digital assets is allowed.

Today in Crypto: Multichain Halts Operations Due to Lack of Funds and CEO‘s Arrest, Indonesia to Launch National Crypto Exchange This Month, US SEC Acknowledges Bitwise‘s Spot BTC ETF Application

Once launched, Indonesia’s national crypto exchange will be the only platform allowing crypto transactions, the local regulator said.

Indonesia‘s Financial Services Authority Appoints Hasan Fawzi as Head of Fintech and Crypto Oversight

Bali Tightens Regulations: Stricter Measures Implemented to Restrict Foreign Tourists from Using Cryptocurrency as Payment

The community expressed a range of opinions, with some individuals stating that the ban is reasonable, while others went as far as reconsidering their vacation plans.

Cryptocurrency trading is legal in Indonesia, but the use of crypto in payments carries hefty penalties including jail time.

The Deputy of Indonesia’s Ministry of Tourism and Creative Economy explains how NFTs and cryptocurrency can help solve social and economic challenges within Indonesia.

Alchemy Pay has partnered with a local fintech in Indonesia to offer low-cost remittances for crypto users in the country.

The government, which is in the process of changing regulators for crypto, had initially planned to roll out the trading platform by end-2021.

Indonesia‘s financial services regulator first expressed its intentions to establish a crypto exchange back in 2021.

A new law in Indonesia not only changes the crypto regulatory environment, it could also broaden the industry’s development in the country.

The platform comes as a part of the plan to shift the regulatory oversight from the commodities agency to the securities authority.