Indonesia has launched a national crypto asset bourse to provide regulators with transaction records and better protect crypto investors, the government announced this week.

The launch of the exchange and clearing house is also intended to strengthen monitoring of the booming sector amid a transition in regulatory oversight, according to the Commodity Futures Trading Regulatory Agency (Bappebti).

Indonesia bans the use of cryptocurrencies as a means of payment, but allows investment in the assets. Such investment boomed during the pandemic, with data showing that as of June, 17.54 million people in the country had invested in the digital assets, more than the number of investors registered with the stock exchange.

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