Indonesia Legalizes Cryptocurrency Futures
The financial regulator of Indonesia, Bappebti, has established the rules for trading cryptocurrency assets on the country's futures exchanges. All exchanges operating with this type of asset are subject to registration and official approval.
In addition, there was a statement confirming that cryptocurrencies received the status of a commodity, while cryptocurrency futures can be freely traded on exchanges. This important step taken to protect consumers and investors is able to revive the cryptocurrency field of the whole region.
Basic requirements for exchanges that can trade in commodity crypto futures are as follows:
Capital availability of at least $106 million;
Good security system;
At least 3 Information Security Specialists (CISSP).
Each exchange that has submitted an application must go through a risk assessment process, as well as confirm its compliance with the requirements of the legislation in the sphere of combating terrorism and money laundering.
New rules do not apply to ICO. Cryptocurrencies, as a means of payment, also have not yet been approved. As many crypto traders have already stated, a very high share capital ratio, which is higher than the established minimum for trading other commodity futures is among other shortcomings. This may hold back the development of the market.
E-CHAT Team’s Opinion
Of course, the authorized capital adequacy ratio is high, but we know what daily turnover of funds is in this area. In our professional opinion, this will allow us to eliminate fraudsters and give way to truly reliable exchanges.
They will be tested and will act according to the law which is an absolute advantage for potential investors. Investing in commodity crypto futures will be safer and more profitable.
E-CHAT is developing in a completely different area. We have chosen a mission to become the best blockchain messenger, as well as social network and cryptocurrency project in the world. We are trying to reach our goal gradually. Therefore:
Positions of our token are strengthened;
ECHT is listed on new exchanges;
The number of users is growing.
Our team keeps up-to-date with the news of the global crypto market, which we are happy to share with you!