Indonesia's new crypto regulations give exchanges until the end of November to meet licensing requirements, thereby increasing compliance with local governing bodies and KYC standards.
Since the introduction of regulations in 2019, crypto exchanges have been required to seek authorization to operate, showing Indonesia's commitment to formalizing the crypto industry.
The recent launch of a national crypto asset bourse in 2023 is a significant step for Indonesia, aiming to enhance safety in crypto investing and improve tax tracking.
With over 30 crypto exchanges applying for full licenses, the regulatory landscape is clearly evolving, providing both challenges and opportunities for crypto businesses in Indonesia.
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