Indonesia has a new crypto regulator, and the switch could end up altering the country’s unique classification of crypto as commodities like gold or coal. iamsandali reports
Being treated as commodities has kept crypto out of the debate over which digital assets should be treated like traditional securities, something regulators and industry members in other economies like the U.S. are still arguing about.
The government says regulatory changeover will take two years, said Jay Jayawijayaningtiyas, country manager for crypto exchange Luno Indonesia, adding that it’s too early to speculate how the assets will be regulated by the new authority. Luno is owned by CoinDesk’s parent company DCG, and is a member of the ABI.
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