Whither the regulators? Indonesia’s blockchain domination unstoppable

With its young population and mobile penetration rate of over 100%, Southeast Asia is fast becoming a favourite among crypto and blockchain innovators. Indonesia’s Minister of Trade Muhammad Lutfi also revealed that the value of crypto trading in Indonesia increased five-fold to US$25.5 million in just the first half of 2021. This list, which includes Bitcoin and Ethereum, is a major development for crypto traders, who previously did not have clear criteria for crypto trading. The Indonesian Blockchain Association is also preparing for this year’s Indonesian Blockchain Conference scheduled for the first week of August. The conference will gather hundreds of blockchain and crypto leaders and users and government regulators, and local thought leaders to help set the stage for greater blockchain and cryptocurrency adoption in the country.

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