Indonesian Blockchain Market Trend

The Indonesian government has a strong will to improve backward financial services by introducing fintech industries such as cryptocurrency, blockchain, and virtual currency. As the Indonesian government presented various policies to revitalize the cryptocurrency industry, investment in cryptocurrency by the general public has increased rapidly.

The Central Bank of Indonesia (Bank Indonesia) is regulating the payment of goods and services in cryptocurrency. On the other hand, it has legal stability for cryptocurrency investment by introducing a cryptocurrency exchange and a cryptocurrency permit system for investment.

The Central Bank of Indonesia announced the issuance of a legal currency, the Rupiah-based Central Bank Digital Currency (CBDC), and officially announced that it would launch a government-run cryptocurrency exchange this year.