Mass adoption of cryptocurrency in Asia: Following Singapore, whose government fund has invested in bitcoin, Indonesia made an important announcement – the country is preparing to launch a digital asset exchange under the government.
Following the neighboring Singapore – one of the most technologically advanced countries in the world – the government of Indonesia is preparing to accept cryptocurrency. The interest is obvious – the country is in the top 15 in terms of remittances from migrants. Every year, Indonesian families receive over $ 10 billion from them.
Commerce Minister Jerry Sambuaga noted that the launch of the state digital asset exchange may take place one or several months later.
Cryptocurrency transactions were legalized by the state of Southeast Asia in 2018. For 2020, there were 1.5 million cryptocurrency traders in Indonesia, whose annual turnover is approaching $ 4.4 billion, while 269 million citizens do not have access to banking services.
We will remind, earlier Singapore became the first state in the world, the state welfare fund of which began to invest in bitcoin.