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Home NEWS Government News

Indonesia’s Regulator Gives Green Signal for Crypto Futures Trading

Coinworldstory by Coinworldstory
June 5, 2018 - Updated on December 16, 2018
in Government News
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The Indonesian Futures Exchange Supervisory Board has legalized cryptocurrencies as commodities that can be traded on the country’s futures exchange. Reportedly, regulations for crypto exchanges and related taxations would soon follow as well.

According to a Jarkata Post report on Monday, the agency’s market supervision chief, Dharma Yoga, has confirmed the decision and said the ruling came after a four-month study period that examined the issue.

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According to Dharma Yoga, head of Bappebti market supervision and development bureau, the Future Exchange Supervisory Board decided to allow crypto to trade as a commodity as a result of a four month study into cryptocurrencies.

Dharma also noted that the Indonesian government will soon release corresponding legislation on regulating currency exchange companies, taxation, and combating money laundering and terrorism financing.

Meanwhile, other regulations around cryptocurrency exchanges and related taxation in the country will also be revealed by the country’s central bank and its taxation agency, Yoga said.

On the other hand, the country’s central bank, Bank Indonesia (BI), does not recognize cryptocurrencies as payment instruments, and its lack of crypto recognition led to two Indonesian crypto exchanges shutting down last fall. More recently, in mid-January Bank Indonesia had also issued a warning to all citizens against using cryptocurrencies, citing their high risk.
[su_quote]This article is writing on 05 Jun 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- 918077121282.[/su_quote]
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The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .

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