In a recent decision made by the futures regulator, who operates under the ministry of trade for Indonesia, they will regard cryptocurrencies as commodities in terms of regulation.
Indonesia’s Government are going to treat cryptocurrencies as commodities in terms of regulation.
More regulations are underway in order to improve trading, taxing, and safety of cryptocurrencies
Could more countries follow Indonesia on this by regulating cryptocurrencies as commodities?
Indonesia moving ahead with cryptocurrency regulations
Indonesia has recently taken a decision which will treat cryptocurrencies as commodities, the decision is based on a study that suggests the commodities status is a suitable way to regulated cryptocurrencies. The government of Indonesia is also pushing several other regulations out that will affect cryptos. Many of them will be in connection with taxes, trading, and safety.
“The Head of BAPPEBTI has signed a decree to make cryptocurrency a commodity that could be traded on the exchange,”
This could possibly ease the access and improve the safety to trade cryptocurrencies on the Indonesian Market. How this actually falls through remains to be seen.
Does it make sense to regulate cryptocurrencies as commodities?