Indonesia to Change Crypto Regulators as Part of Plan for Stricter Oversight
The government of Indonesia wants to assign crypto supervision to the Asian nation’s financial watchdog in order to ensure better protection for investors. The move is part of a planned overhaul of regulations in the sector aimed at increasing oversight of the expanding digital assets market. Indonesia Mulls Over New Financial Legislation Designed to Tighten Crypto Rules Indonesian authorities intend to task the Financial Services Authority (OJK) with regulation, supervision and oversight of cryptocurrency investments, which have been booming in the country. The market is currently....
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Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges. Under revised regulatory framework, two-thirds of crypto exchange directors must be Indonesian citizens residing in the country.
Indonesia Plans to Tighten Crypto Regulation
Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges, officials from the country’s Minister of Trade and the Commodity Futures Trading Regulatory Agency (Bappebti) said Tuesday at a parliamentary hearing in Jakarta.
One of the new rules requires two-thirds of directors....
After revoking licenses for many crypto firms, Estonia’s parliament is considering even stricter cryptocurrency laws. Estonia’s finance ministry is reportedly looking to enact stricter crypto licensing regulations. This comes after the authorities revoked the licenses of about two-thirds of the cryptocurrency businesses operating in the country back in 2020.According to ERR News, the Estonian Ministry of Finance issued draft legislation back in January to tighten the noose on the country’s crypto industry. As part of the proposed rule changes, the Finantsinspektsioon — Estonia’s Financial....
The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing their clients from owning or exchanging cryptocurrencies.
Authorities in Tallinn Draft Stricter Rules for Crypto Service Providers
The executive power in Estonia has prepared and approved draft legislation designed “to more effectively regulate virtual asset service providers....
Over the past few years, the Bitcoin ecosystem has grown tremendously. More merchants are accepting cryptocurrency payments, both online and in-store. Bitcoin has always been a thorn in the side of financial regulators and policymakers. The Financial Stability Oversight Council voiced their concerns over using cryptocurrencies earlier today. While Bitcoin is becoming more popular, financial instability is looming. By the look of things, this will lead to even stricter Bitcoin regulation in the US. It is no surprise to find out US regulators are still not sold on Bitcoin by any means. A....
Indonesia's central bank, Bank Indonesia, has issued a new statement defining its stance on bitcoin. The comments bear similarities to others released over the past few months, but suggest the government will now take a hands-off approach to digital currency. Today's statement differs slightly from the reports issued last month, in which Bank Indonesia's deputy Governor suggested digital currency might break the bank's rules. Since then, representatives from the local bitcoin business community have participated in informal discussions with regulators to clarify the boundaries of their....