Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto T...
Authorities in Indonesia do not intend to follow China’s example of imposing an outright ban on cryptocurrencies, a government official said, noting the country will limit itself to ensuring they are not used in illegal activities. The statement comes after local crypto exchanges registered a serious increase in turnover this year. Indonesia to Tighten Regulations Without Prohibiting Crypto Transactions The Indonesian government will not follow in the footsteps of China, which has confirmed a ban on all cryptocurrency transactions, the country’s Minister of Trade Muhammad....
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The country’s deputy trade minister confirmed the intention, for the first time voiced in last year. The government of Indonesia returned to its plan to set up a digital assets exchange, publicly announced first time back in 2021. A so-called “crypto bourse” is planned to be established by the end of 2022. According to DealStreetAsia, Indonesia’s deputy trade minister Jerry Sambuaga confirmed during the NXC International Summit 2022 in Bali that the country is still planning on the crypto bourse’ launch, while the whole project has been delayed due to additional preparations: “We will make....
Regulations, exchanges and local adoption help cryptocurrencies gain traction in Indonesia. Crypto is the next big thing in Indonesia. According to the Ministry of Trade, transactions for currencies like Bitcoin (BTC) grew over 14 times from a total of 60 trillion rupiahs ($4.1 billion) in 2020 to a total of 859 trillion rupiahs ($59.83 billion) in 2021.It’s getting to the point where crypto is becoming more popular than traditional stock. Vice Minister of Trade Jerry Sambuaga stated that more than 11 million Indonesians bought or sold crypto in 2021. In comparison, according to the....
The Indian finance minister has finally revealed clues about what is in the cryptocurrency bill that is due to be introduced in parliament. Mentioning no crypto ban, she said that the government will take “a very calibrated” approach to cryptocurrencies. Indian Finance Minister Provides Clues on Upcoming Crypto Regulation Indian Finance Minister Nirmala Sitharaman shed some light on the upcoming crypto regulation in her country during CNBC-TV18’s IBLA townhall Friday. This is the first time she talked about the content of the bill and the Indian government’s plans....
A minister in the Nigerian government has called on authorities in the country to consider regulating cryptocurrencies instead of clamping down on them.
The Law Does Not Stipulate Who Regulates Cryptos
In what appears to be a rebuke of the Central Bank of Nigeria (CBN) over its stance on cryptocurrencies, a minister in the Nigerian government has called for the regulation of cryptocurrencies.
Rather than clamp down on companies that facilitate crypto transactions, the minister, Clem Agba, argues that forward-thinking regulation would prove more beneficial for....
Indonesia saw a massive 1,772% increase in the number of people engaging with articles about crypto, a new survey claims. Amid the ongoing growth in cryptocurrency adoption worldwide, countries like Indonesia and Chile have seen a significant influx of public interest in cryptocurrencies like Bitcoin (BTC), according to new data.According to an Oct. 15 report by Australian blockchain education startup Coinformant, Indonesia has been leading the world in crypto interest dynamics in 2021.The fastest growing crypto hotspots. Source: CoinformantIn Coinformant’s report, Indonesia achieved the....