Regulators in Indonesia have finally recognized Bitcoin and other cryptocurrencies as commodities, thus providing legal backing for trading virtual currencies. Consequently, cryptocurrency exchanges in the country now have a set of requirements that must be satisfied before being allowed to operate. Requirements for Bitcoin Exchanges in Indonesia The Indonesian Trade Ministry Futures Exchange Supervisory Board (Bappebti) issued regulation No.5/2019 which includes regulations for cryptocurrency exchanges, as well as, a formal recognition of cryptocurrencies as commodities.Read MoreThe post Indonesia Officially Recognizes Bitcoin as a Commodity appeared first on Bitcoinist.com.
