The amendment was recommended by Finance Minister Sri Mulyani Indrawati.
The minister brought up the recent volatility in the cryptocurrency market at the meeting.
It has been announced by the Indonesian government that it plans to give the Financial Services Authority (OJK) responsibility for regulating, supervising, and overseeing the country’s expanding cryptocurrency investment market. Currently, market regulation is under the purview of the Ministry of Trade and the Commodity Futures Trading Regulatory Agency.
As reported, the amendment was recommended by Finance Minister Sri Mulyani Indrawati. And is part of pending legislation regarding the banking industry. It was reported in September that the biggest economy in Southeast Asia was planning to strengthen the regulation of cryptocurrency exchanges, prompting lawmakers to submit the government with the proposed legislation.
Stringent Approach After High Volatility
Although buying or selling cryptocurrency in Indonesi
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