Crypto-currency traders protest Indonesia’s new futures rules

By Prosyscom
In February 15, 2019

Indonesian crypto-currency traders are complaining that the government’s new rules on futures trading, which require high minimum capital for traders, will hinder development of the young but growing market.

Use of crypto-currencies as payment instrument is banned by Indonesia’s central bank, but trade in the blockchain-backed assets is allowed.

Since October, Jakarta has allowed futures trading of crypto-currencies as a way to provide hedging tools to protect customers from fluctuations in prices of crypto-currencies.

But there have been no futures transactions for any digital asset so far, according to traders.

To encourage trade and protect customers, the Commodity Futures Trading Regulatory Agency, known as Bappebti, last week issued a regulation that set a 1 trillion rupiah (US$71.17 million) as the minimum paid-up capital for a new trader offering future contracts for crypto assets.

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