While Jakarta takes an active interest in regulating the crypto industry, President Joko Widodo’s administration apparently sees merit in helping the local token economy grow – hoping to even benefit from taxing local digital assets that make it onto global trading platforms.
On Aug. 1, Bappebti published an updated list of 383 cryptocurrencies– many of them globally traded digital assets like bitcoin and ethereum– that Indonesians are allowed to trade. “We hope we will get our license quite fast,” Wibisono said, optimistic that a recent venture capital injection in his startup will tip the scales in his favor.
To be able to trade in Indonesia, a digital token must be based on distributed ledger technology. It must also be classified as an “asset” or “backed asset,” because the use of crypto as a means of payment is forbidden under local regulations, as well as under Islamic law. “The regulation is quite clear, but it's not ideal yet. So what the association is trying to do is to help [regulators] to explore how we can make the process better, specifically to make sure the local projects can grow here in Indonesia,” Karnengsih said.
why this was impossible on pow?
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This is still going on if you are interested Big AlRDR0OP BACKTO[.]ATH[.]CX
Cryptocurrencies will make big waves in emerging countries. The future of finance is not only dominated by developed countries.
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Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Cointelegraph - 🏆 562. / 51 Read more »