As a part of its reform of crypto regulation, Indonesia will create a crypto exchange in 2023, according to reports. The platform is planned to be launched prior to a shift of regulatory power from commodities to securities authority. 

On Jan. 4, the head of the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti), Didid Noordiatmoko, stated that a crypto exchange should be set up this year. The move comes as a part of broader financial reform launched in December 2022.

In accordance with the reform, in the next two years, the crypto oversight will be taken from Bappebti, a commodities-focused agency, by the Financial Services Authority (FSA).

(By DAVID ATTLEE)