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Indonesia Wants its Citizens to Lead Domestic Crypto Exchanges

  • At least two-thirds of crypto exchange board must be citizens
  • Officials say tightening rules will help to protect consumers

Indonesia will require its domestic cryptocurrency exchanges to be mostly led by its citizens as it tightens rules to protect consumers.

At least two-thirds of directors and commissioners on crypto bourses must be Indonesians residing in the country, said officials from the trade ministry and commodity futures trading regulatory agency at a parliamentary hearing in Jakarta on Tuesday.