Muhammad Lutfi: We are Improving Crypto Asset and E-commerce Regulations

As for digital trade, in the near future, the Indonesian government, and even world financial institutions and the World Trade Organization (WTO), will regulate it so that there is a balance.

KOMPAS/CYPRIANUS ANTO SAPTOWALYONO

Trade Minister Muhammad Lutfi

Cryptocurrency trading and a fair business practices in e-commerce have become hot topics of public discussion lately. The skyrocketing value of cryptocurrencies has boosted public interest in investing in the assets. However, sufficient digital currency trading infrastructure is not yet available. Security and fairness in transactions have not been ensured.

The public has also highlighted the entry of cheap imported products through e-commerce, which has threatened the sustainability of micro, small and medium enterprises and other domestic industries.