Crypto Exchange Function: Here's The Retail

Crypto Exchange Function (Canchanara Image - Unsplash)

YOGYAKARTA - Popularity and cryptocurrency enthusiasts in Indonesia are increasing every year. This shows that cryptocurrencies are the same investment instruments as stocks, bonds, mutual funds, gold, property, let alone deposits. However, until now the Indonesian crypto exchange has not been set, so cryptocurrency consumers feel less comfortable in investing or trading crypto.

The number of requests for crypto exchanges to be launched quickly, until the government continues to tighten the process. However, throughout the process there are many obstacles experienced. The following will explain what happened to the crypto exchange in Indonesia, when it was launched, how the process took place, until the Indonesian crypto regulation was implemented.

The crypto exchange is a place to monitor cryptocurrency trading. The existence of the Indonesian crypto exchange is expected to make it easier for crypto investors to recognize cryptocurrencies that are also facing losses. As of now, there is no formal crypto exchange in Indonesia, meanwhile the crypto exchange means a lot to share protection with investors.

The benefits of the Indonesian crypto exchange are expected to be able to produce a trading system that can oversee and control crypto traders. Thus, crypto trading can be more structured and efforts to record and supervise make it easier. Recording is tried because it has something to do with taxes that can support development in other zones. Supervision plays a role in ensuring consumer and state security, for example, related to terrorism financing and money laundering.

Understanding The Crypto Asset Institutional Ecosystem

Crypto exchanges are included in the crypto heritage institutional ecosystem. The crypto heritage institutional ecosystem is a series of containers for controlling and protecting cryptocurrency investment activities in Indonesia. The crypto heritage institutional ecosystem consists of crypto exchanges, physical merchants from crypto heritage, future clearing institutions, store managers, and deposit banks as investors' depository institutions. We can say that the crypto heritage institution in Indonesia is not entirely available.

Why Do You Need The Indonesian Crypto Exchange?

You can be confused, why has CoFTRA always tried to launch a crypto exchange? Is the Indonesian crypto exchange so meaningful? So, with the existence of crypto exchanges, crypto investors will indirectly feel protected. The crypto exchange that will be launched later will function as the transaction control authority and protect investor interests.

Nailul Huda as an Indef Periet said, if there is an increase and an abnormal shrinking of crypto values, the authorities can take strategic policies to protect investor rights. Because at this time there is still no crypto exchange, investors are obliged to bear their own losses when there is an abnormal price shrinkage.

Sutopo Widodo as President Commissioner of International HFX also expressed his opinion that the launch of crypto exchanges is a pressing issue because at this time there have been rampant acts of fraud under the guise of cryptocurrencies, as well as with the existence of exchanges so that they can provide guidance and investment literacy in crypto relics.

So after knowing the function of the crypto exchange, see other interesting news on VOI, it's time to revolutionize news!