National Kritpo Exchange Coming Soon, Indodax CTO: The Better

William Sutanto, Co-founder of Nusa Finance and also CTO Indondax (photo: Dinda Buana/VOI)

JAKARTA - The Indonesian government through the Commodity Futures Trading Supervisory Agency (CoFTRA) has confirmed that they will launch the National crypto exchange in July 2023.

It appears that the target for the launch month is one month behind its initial target in June, as stated directly by the Minister of Trade, Zulkifli Hasan at the 2023 Crypto Literacy Month event, in February.

"Yesterday we agreed regarding the stock exchange regulations. We have tested the system integration between traders, exchanges, clearing and storage," said Head of CoFTRA, Didid Noordiatmoko some time ago.

Regarding the launch of the national crypto exchange, William Sutanto as Co-founder of Nusa Finance and also CTO Indondax hopes that the launch can be carried out soon.

"From Indodax, we position ourselves as traders. In which actually we cannot direct (direct communication) to CoFTRA. We can only enter through associations, from ASPAKRINDO. So we are more active in associations, providing input to CoFTRA, so that all frameworks in the crypto ecosystem can run immediately, that's all," said William not long ago.

According to William, there are a number of conditions and stages that must be passed in the process of establishing a crypto exchange. Because according to him, until now, trading platforms such as Indodax are still candidates for traders.

"But hopefully the crypto exchange will also be ratified soon. Because according to the regulations, if the stock exchange and clearing do not have the status of the candidate, it cannot be revoked," he added.

"Because everything must be complete. Because everything must be complete. We are also waiting for it. Hopefully the application stock exchange can be ratified immediately. The sooner the better. The sooner the better," William concluded.

Until now, CoFTRA has not announced the exact date of the launch of the national crypto exchange. However, they confirmed that they would launch it in July this year.