"This neighboring country is quick to take the opportunity, it never lags behind."
The Ministry of Trade of the Republic of Indonesia will finally launch the world's first cryptocurrency exchange platform supported by the government by June 2023.
It is reported that the government is in the process of determining which companies can meet all the requirements to join the crypto exchange.
This is because only five crypto exchange companies were found to have potential compared to 25 other companies that have registered with the Commodity Futures Trading Regulatory Agency as digital asset traders.
Trade Minister Zulkifli Hasan said, he asked all his citizens to be patient until the launch date is set after the government recently lifted restrictions on the license of the new crypto exchanger.
He added that the recovering crypto market will further facilitate the implementation of the crypto exchanger which is currently in the development phase.
Zulkifli also said that this plan should not be implemented hastily as it can have a massive negative impact if not prepared or careful.
In fact, the launch of the crypto exchanger is also capable of bringing a large amount of losses even though the Indonesian Crypto Asset Traders Association stated that the initiative would bring good profits.
Even so, the Ministry of Commerce will do its best to improve regulations and other things related to digital assets so that situations like the FTX crisis do not happen again.
