Indonesia’s financial regulator has drawn a definitive line in the sand for its burgeoning cryptocurrency market. The Financial Services Authority (OJK) has published an official whitelist naming the 29 crypto asset trading platforms now formally licensed to operate, a move designed to tighten oversight, protect consumers, and eliminate regulatory ambiguity. This decisive action comes as the country experiences explosive growth in digital asset adoption, positioning the government to better manage a rapidly evolving financial landscape.
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0 in Finance and 0 in Crypto last weekIndonesia’s Crypto Market Surges 336 Percent Amid Rising User Engagement
Indonesia’s crypto market has surged, with trading volume reaching $40.2 billion, a 336% increase from the previous year, driven by strong demand for XRP, Dogecoin, and Bitcoin. The number of registered crypto users is expected to rise from 22.1 million to 25 million soon. Despite this growth, security concerns remain, highlighted by a major cyberattack on the Indodax exchange in September, resulting in a loss of approximately $22 million in various cryptocurrencies.
about Indonesia's Crypto Market Surges 336 Percent Amid Rising User Engagement