Official Crypto Exchange Operates: Realizing Transparency In Transaction Reports

JAKARTA - The Indonesian Crypto Exchange has been officially operating since early September 2023. As a member of the stock exchange, Tokocrypto hopes that the presence of the stock exchange will bring significant changes in the crypto asset trading ecosystem in Indonesia.

Tokocrypto CEO, Yudhono Rawis, said the establishment of crypto exchanges was an important step in realizing transparency and security in crypto asset trading.

Later this can also prevent various problems, including market fraud and manipulation.

"The new era of trading crypto assets in Indonesia has begun. We are committed to supporting transparency and compliance, as well as collaborating with the Nusantara Commodity Exchange (BKN) to ensure the sustainable growth of the crypto industry," Yudho said in a statement received.

With the presence of BKN, Yudho said that Indonesia will become a more regular and trusted center of crypto asset trading in Southeast Asia, as well as attract more investors and help the economy in this sector.

Transparency

With a strict reporting system, and ensuring that all transactions in it are properly recorded and accessible to the authorities, the exchange will assist the government in overseeing crypto asset trading activities and ensuring better tax compliance.

Integration

Tokocrypto has integrated the system through the Application Programming Interface (API) with a new system of the Nusantara Commodity Exchange. Since September 1, 2023, Tokocrypto has also been proactive in reporting daily transaction data to BKN.

The information reported includes buying and selling transactions, trading types of crypto assets, pairing crypto assets, as well as volume and total transaction value in the Rupiah.

Tokocrypto's commitment to transparency has been proven previously through collaboration with leading analytic sites, CoinMarketCap and CoinGecko. Through this collaboration, Tokocrypto shares data on trading volume.