Indonesia's Futures Exchange Supervisory Board (Bappebti), a commodities market regulator under the country's Ministry of Trade, has reportedly ruled that cryptocurrencies are commodities that can be traded on the country's futures exchange.
According to a Jarkata Post report on Monday, the agency's market supervision chief, Dharma Yoga, has confirmed the decision and said the ruling came after a four-month study period that examined the issue.
According to Yoga, the agency has now signed a decree to formalize the decision, potentially clearing the way for the launch of a bitcoin futures product in Indonesia.
Meanwhile, other regulations around cryptocurrency exchanges and related taxation in the country will also be revealed by the country's central bank and its taxation agency, Yoga said.
Yoga further indicated that, in order to prepare a comprehensive regulatory framework, the agency is now requesting domestic cryptocurrency exchanges to submit regulatory proposals.
Indonesian rupiah via Shutterstock
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