Indonesia's regulatory body, Bappebti, is finalizing the establishment of a cryptocurrency exchange, expected to launch by July 2023 at the latest. The progress of the exchange is currently at 75%.

The launch is contingent upon adequate funding and the establishment of clearing and depository institutions. The operator of the exchange has not been disclosed yet.

The launch has been delayed due to regulatory uncertainties regarding consumer protection and company transparency.

However, the Deputy Minister of Trade, Jerry Sambuaga, remains optimistic that the exchange will be launched before June 2023 and anticipates a resurgence in crypto assets this year, with transaction volumes reaching record levels similar to 2021.

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