Cryptocurrencies
FTX Debacle Spurs Indonesia to Revamp Crypto Sector
- Nation plans to set up a state-backed crypto bourse this year
- Private platforms would have to execute trades on new venue
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Indonesia is drawing on the structure of the stock market to revamp crypto trading and mitigate the risks exposed by the collapse of the FTX digital-asset exchange.
A key plank of the plan is a proposed state-backed crypto bourse where private-sector platforms will execute trades, according to the Commodity Futures Trading Regulatory Agency, which currently oversees digital assets.