Majority of crypto exchange leadership should be comprised of citizens, say Indonesian regulators

Jerry Sambuaga, the deputy minister of Indonesia’s Ministry of Trade, has proposed a rule that would require the leadership at the country’s crypto exchanges to be more representative of its citizens.

In a Tuesday parliamentary meeting that included Indonesian regulatory officials, a letter submitted by Sambuaga suggested several policy changes in response to the “interesting year for the development of physical trading of crypto assets” in the country. Among the proposed rules is a requirement for two-thirds of directors and commissioners at crypto firms to be “Indonesian citizens and domiciled in Indonesia.”

Proposed changes to Indonesia’s Commodity Futures Trading Regulatory Agency on crypto. Source: YouTube