Is This The Most Crypto-Friendly Country Globally as Regulator Moves to Set Up Exchange

Indonesia is planning to create a cryptocurrency exchange this year. The country also plans to shift the regulatory authority over crypto assets to the Financial Services Authority (FSA) from the commodities agency regulating this market.

Indonesia plans to set up a crypto exchange

The regulatory framework for cryptocurrency assets globally has changed, with most regulators looking for strict oversight because of the collapse of some of the largest crypto firms globally, such as Celsius, FTX, Voyager, and BlockFi, among others.

However, the negative events in the crypto market in 2022 have not made Indonesia shy away from pursuing this market. Cryptocurrencies in Indonesia are currently regulated the same as commodity contracts. These assets are regulated by the Commodity Futures Trading Regulatory Agency, also known as Bappebti.

The FSA will conduct reforms across the financial sector by assuming regulatory authority over crypto assets over two years. Bappebti noted that Indonesia will have created a cryptocurrency exchange within this time.

Indonesia has emerged as one of the most crypto-friendly countries globally. The country has supported crypto assets, but it has been concerned over these assets competing against the country’s fiat, the rupiah. The Indonesian central bank has released a whitepaper focused on digital assets. The country also recently passed legislation recognizing cryptocurrencies as financial securities.

The significant adoption of crypto assets in Indonesia and a friendly regulatory framework have the crypto market hopeful that more countries will follow suit. Two countries, El Salvador and the Central African Republic, have accepted Bitcoin as legal tender. The market is hopeful that more adoption will be seen this new year, which could contribute to a notable recovery in the sector.

Altcoins that could deliver 10x gains this year

As the market anticipates a recovery this year, investors are looking for coins that will deliver 10x gains. Some of the coins to consider investing in are FightOut and Dash 2 Trade.

FightOut

FightOut is a new project with a unique offering compared to other move-to-earn platforms. FightOut offers a holistic way to fitness, which goes beyond counting steps. Users’ real-life workouts will be reflected in their avatars in the FightOut ecosystem.

The FightOut presale started recently and has already raised more than $2.61 million. The project is in the first stage, and early investors are eligible for an up to 50% bonus. This bonus will end after the presale hits $5 million.

Dash 2 Trade

The Dash 2 Trade presale is also performing quite well, and investors are rushing to buy at low prices before the price explodes after the January 11 CEX listing. Only two days are left before the Dash 2 Trade presale closes. The presale has raised over $13.2 million, and 98% of the presale tokens have been sold out.

Dash 2 Trade has robust fundamentals, as the intelligence platform will allow cryptocurrency investors to access tools, features, and proactive information that will help them make informed trading decisions.

Wall Street Memes (WSM) - Newest Meme Coin

Our Rating

Wall Street Memes
  • Community of 1 Million Followers
  • Experienced NFT Project Founders
  • Listed On OKX
  • Staking Rewards
Wall Street Memes