{"id":1648883,"date":"2022-09-20T10:05:03","date_gmt":"2022-09-20T14:05:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1648883"},"modified":"2022-09-20T10:05:52","modified_gmt":"2022-09-20T14:05:52","slug":"indonesia-to-tighten-rules-for-crypto-exchanges-ensure-more-local-control","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/indonesia-to-tighten-rules-for-crypto-exchanges-ensure-more-local-control\/","title":{"rendered":"Indonesia to tighten rules for crypto exchanges, ensure more local control"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Findonesia-to-tighten-rules-for-crypto-exchanges-ensure-more-local-control%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1648883&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>JAKARTA (Reuters) \u2013     Indonesia\u2019s trade ministry plans to issue a new rule governing  crypto asset exchanges, requiring two-thirds of the board of directors and commissioners to be Indonesian citizens and reside in the country, a deputy minister said Tuesday. <\/p>\n<p>The measure comes following financial issues faced by Southeast Asia-focused cryptocurrency exchange Zipmex, which temporarily prevented users from withdrawing funds.<\/p>\n<p>\u201cWe don\u2019t want to give permits (to exchanges) carelessly, so only for those that meet the requirements and are credible,\u201d deputy trade minister Jerry Sambuaga told reporters after a parliamentary hearing. <\/p>\n<p>The ministry\u2019s Commodity Futures Trading Regulatory Agency (Bappebti) will issue the new rule soon, he said, without giving a timeframe.<\/p>\n<p>It will also require an exchange to use a third-party to store client funds and to prohibit exchanges re-investing stored crypto assets, according to a document issued by the ministry.<\/p>\n<p>Bappebti acting head Didid Noordiatmoko told the parliamentary hearing that ensuring two-thirds of the board were Indonesians based in the country \u201ccould prevent the top management running away when a problem hits the exchange.\u201d<\/p>\n<p>Asked about a plan to launch an Indonesian crypto asset bourse, which has been delayed from last year, Sambuaga said the plan could hopefully be completed this year. <\/p>\n<p>Cryptocurrency has gained popularity in Southeast Asia\u2019s biggest economy with a total transaction volume of crypto assets  up more than 1,000% in 2021 at 859.4 trillion rupiah ($57.37 billion), according to Bappebti\u2019s data.<\/p>\n<p>($1 = 14,980.0000 rupiah)<\/p>\n<p> (Reporting by Stefanno Sulaiman; Editing by Ed Davies)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/indonesia-to-tighten-rules\/file-photo-people-walk-past-advertisement-screen-boards-showing-a-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8J0OJ-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8J0OJ-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JAKARTA (Reuters) \u2013 Indonesia\u2019s trade ministry plans to issue a new rule governing crypto asset exchanges, requiring two-thirds of the board of directors and commissioners to be Indonesian citizens and<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1648883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1648883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1648883"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1648883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1648883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1648883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1648883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}