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[Yugocean]

Indonesia is planning to launch a national crypto exchange in 2023.

The plan could be seen as a measure to prevent the public from sending money to exchanges and to bring citizens' crypto under government control and tax them.

However, it can also be useful for those who want to invest their money in crypto and consider the control of government regulators necessary to avoid scams.

 

[a_jerobon]

The good thing is that my government vis not so bothered about the cryptocurrency market as they are too backwards to even know what it means. I guess it would still be game as usual right here in my location.

That is great for you. Some governments have had to ban cryptocurrencies after learning about them. So it is great if your country does not seem to care about them. My country is that way too and it is going great.

 

[HMMY1]

Indonesia is planning to launch a national crypto exchange in 2023.

The plan could be seen as a measure to prevent the public from sending money to exchanges and to bring citizens' crypto under government control and tax them.

However, it can also be useful for those who want to invest their money in crypto and consider the control of government regulators necessary to avoid scams.

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This is a very good step because through this all their people can take advantage if they want to do trading in cryptocurrency or any business related to it. Because the people of every country come to get knowledge about cryptocurrency and do any business related to it, which will benefit their country as well.

 

[Margery]

According to the source, Indonesia plans to launch its national cryptocurrency exchange in 2023. The launch strategy for the exchange is due to be released in the next few months when the Indonesian government releases a pre-license for the exchange. The corresponding law was adopted in November 2020.

 

[gammarays]

Crypto currency exchange platforms are gaining popularity. It's not bad for a country to own one as a business. They've already got the market as citizens will form a bulk of members. It'll help generate revenue and opportunities for the country.

 

[Mayorla]

I do not really think this is a good move. I guess this is one of the Government policy to regulate Crypto currency.
It will also enable them to track the finance of their citizens.
Taxing the citizens would be a lot more easier.

 

[Wisdom01]

This is good tho , because atleast some citizens would be save from signing up and registering on a scam exchange platform, the creation would be really helpful for the citizens in so many ways I think tho

 

[Niftyicon]

A national crypto exchange under the supervision of the government has the advantage of investment security which would draw conservative investors but outside that, it looks like giving control to the government which defeats the purpose of crypto in the first place.

 

[Wisdom01]

A national crypto exchange under the supervision of the government has the advantage of investment security which would draw conservative investors but outside that, it looks like giving control to the government which defeats the purpose of crypto in the first place.

Although I think it have both positive and negative effect , the positive effect is that the investors would have it in mind that their funds are in safe hands , but the negative one is that the control of the government really affect the cryptocurrency decentralized nature

 

[Niftyicon]

Although I think it have both positive and negative effect , the positive effect is that the investors would have it in mind that their funds are in safe hands , but the negative one is that the control of the government really affect the cryptocurrency decentralized nature

Exactly my point. I think that the government is merely trying to penetrate the crypto space and take back the control cryptocurrency has given to the common man. Anyways, the best would be for both to exist side by side and pretend one isn't a threat to the other.

 

[Wisdom01]

Exactly my point. I think that the government is merely trying to penetrate the crypto space and take back the control cryptocurrency has given to the common man. Anyways, the best would be for both to exist side by side and pretend one isn't a threat to the other.

That's really what the government are doing , they probably are trying to penetrate in the first place , they feel they can't gain proper control over the demand and supply so they are looking for other ways to control

 

[btaliat]

In as much as I love government to be involving in cryptocurrency, I don't like it when government monopolizes the avenue. Government only needs to give and provide enabling environment that crypto users always need to excel not for them to be directly involving in it.

 

[fiery phoenix]

Governments will always implement measures to reduce the threat of crypto to the economy,government and the financial system.Therefore in some countries monopolies will definitely be formed but this might scare away investors from crypto as investors like decentralisation that crypto is offering

 

[IB DD]

The Indonesian national crypto exchange has been operational for close to 6 months now. According to top government officials, the national exchange is the only legal way to exchange crypto in Indonesia. I think this is a good approach to this crypto debacle instead of outrightly banning it's use entirely.

 

[EBUBEJAH]

That is awesome for Indonesians. A crypto exchange that is run by the government is so safe from scams and other criminal activities. I know this is the government's move to tax crypto currencies, but at least citizens get a safe way to invest.

Lol, you caught them there, it's actually a welcome and Innovative move by the Indonesian government, for me, it doesn't matter if the government task the users of cryptocurrency in the country, but so far they protect their interest and make sure they have a smooth sailing while transacting then I don't have a problem with that, once again congratulations to Indonesians.