CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
No Result
View All Result

Crypto Exchanges Face Potential Shutdown In Indonesia

December 28, 2023
in Business, Coins, Market, News, Regulation
A A
Dalintis FacebookDalintisShare on Twitter

In a recent regulatory shift, Indonesia, the pioneer of the world’s first national crypto bourse, the Commodity Future Exchange (CFX), is set to tighten its grip on the burgeoning crypto market. With over 18 million registered cryptocurrency traders, surpassing the 12 million stock traders, the CFX responds to local crypto demand.

Meanwhile, it reflects a strategic government effort to enhance investor safety, monitoring digital asset transactions for tax compliance.

Indonesia Unveils New Regulations For Crypto Exchanges

Indonesia is reshaping its crypto landscape, mandating that all crypto exchanges register with the CFX to continue operations. The CFX, modeled after traditional stock exchanges like NASDAQ, aims to enhance the safety of the crypto ecosystem for investors.

To operate beyond August 17, 2024, approximately 29 crypto exchanges in Indonesia must register with the CFX, according to reports. Meanwhile, the regulatory framework, initiated in 2019 by the Indonesian Commodity Futures Trading Supervisory Agency (Bappebti), requires exchanges to undergo a meticulous authorization process involving self-regulatory organizations (SRO) and Bappebti’s fitness assessment.

According to sources, the CFX serves as a crucial monitoring gateway for the government in Indonesia. Speculations hint at future developments like custodianship for asset storage, liquidity monitoring, and a clearing house for transaction recording to ensure tax compliance.

Stance On Crypto

Beyond investor protection, government plans indicate a strategic move to track digital asset transactions for tax purposes, signaling a broader regulatory framework for the burgeoning crypto industry. In other words, the CFX registration serves as more than a gateway as it positions the government to closely monitor cryptocurrency transactions for tax purposes. Presently categorized as commodities, crypto assets are subject to Value Added Tax (VAT) and Income Tax (PPh).

However, the looming question arises about the fate of crypto in 2025 when a regulatory overhaul shifts oversight from Bappebti to the Financial Services Authority (OJK), potentially reclassifying crypto as securities. If this occurs, crypto traders might enjoy reduced taxes, signaling a pivotal turning point in Indonesia’s evolvin

Tags: CFX

Related

How Bitcoin Miners Are Tapping Into a Once-in-a-Generation AI Opportunity?

September 6, 2025

Bitcoin delivered extraordinary returns to early investors, and now its miners may be next in line. The infrastructure built for...

Trump Media Makes Bold Blockchain Move with Crypto.com Partnership

September 5, 2025

Trump Media and Technology Group has taken a major step into the blockchain space by acquiring 684.4 million Cronos (CRO)...

Why Ethereum Could Be Headed Toward $5,000?

September 4, 2025

Ethereum continues to consolidate around $4,400 as overall crypto sentiment remains neutral. However, rising inflows into ETH-based ETFs suggest growing...

Pi Coin Forecast: Will DeFi Gaming Fuel a Surge to $1?

September 3, 2025

Pi coin has regained attention after stabilizing near $0.34, slightly above its recent low of $0.27. Following months of downward...

Bitcoin’s 7-Day Average Hashrate Surpasses 1 ZettaHash – A Historic First

September 2, 2025

Bitcoin’s network has achieved a major milestone by reaching a sustained hashrate of 1 zettahash per second on a seven...

News

Coins

TikTok Refutes Claims Its Owners Bought ‘Trump Coin’

June 20, 2025
Coins

Whales Accumulate 3.3M Pi in a Day Amid Declining Daily Unlocks

August 4, 2025
Reviews

Crypto Hype: Understanding the World of Memecoins

August 9, 2025
Bitcoin / freepik
Blockchain

Bitcoin Poised for Rally as Key Bullish Indicator Reappears

August 10, 2025
Asset 1CryptoNow
Categories
  • AI
  • Blockchain
  • Business
  • Coins
  • Finance
  • Interesting
  • Market
  • Mining
  • News
  • Regulation
  • Reviews
  • Technology
Tags
AI AI Browser Altcoin Android Binance Binance Coin Bitcoin blockchain BONK BTC Chainlink ChatGPT Circle Coinbase Coindesk crypto Cryptocurrency Crypto exchange DOGE Dogecoin ETF ETH Ethereum Google Halving MARA Memecoin Meta Mining Mobile news OpenAI pengu Pepecoin pi coin pi network Ripple Samsung SHIB Shiba Shiba Inu Solana Stablecoin technology XRP
  • Newsletter
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Market
  • Coins
  • News
  • Mining
  • Technology
  • Blockchain

CryptoNow.