Hi hive family welcome back to my post today in this post we are going to discuss Indonesia's crypto trading activity it experienced a 335.9% increase in 2024, reaching 650.61 trillion rupiah which is USD 40.2 billion, as reported by the Jakarta Globe news. Bappebti is The Commodity Future Trading Regulatory Agency in Indonesia which attributed this rapid growth to rising numbers of users and also high transaction volumes.
Crypto trading surges in Indonesia as user base expands
According to one report, by November 2024, the number of registered cryptocurrency users rose to 22 million. Head of Bappebti Tirta Karma Senjaya noted the growing public confidence in crypto assets trading and was optimistic that the number of users would exceed 25 million in the near future. And you know this is not small numbers.
The most actively traded crypto in Indonesia include Tether (USDT), Bitcoin (BTC), Pepe (PEPE), Dogecoin (DOGE), and Ripple. You can see there are meme coins too in the list. Bappebti announced that its role in crypto regulation would shift to the Financial Services Authority in 2025 In a regulatory shift to simplify oversight, though the agency will retain authority over commodity futures trading. Indonesia is a wise country and from time to time this country adopts new technology which means the government of Indonesia is supportive of new technology and this is exactly what is needed. This specific thing is expected from every country.
Participation in the exchange is limited and voluntary to domestic entities
Jakarta Globe news firm further reported that ICDX facilitates both futures and spot transactions and operates with the support of 19 ports in Indonesia country. Participation in the exchange is limited and voluntary to domestic entities which should be noted. The news coming from India that the jio coin is launching in India which is owned by Ambani Group Ambani is the richest person in india and this step is considered the most important step in the country. Ambani group can push the government to loosen strictness so let's wait and watch what will happen.
The United States is the superpower and Donald Trump said that he will make the United States capital of crypto and you know this is a big statement. After this statement, many countries are thinking of adopting cryptocurrency despite having a negative mindset toward crypto because no one wants to stay behind in technology. Blackrock is the biggest fund management company and this is a company that started this and now you can see big things are happening with crypto. Blackrock ETF application was big even in itself.
I hope you enjoyed this discussion and that is what I want to share with you please leave a comment below and do not forget to share this post on social media.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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