The Magazine for Asian Investors
Bitcoin price continues to remain stable above $40,000. Today (February 17) at 8.50 a.m. ET it increased by 0.10% to $44,044.66.
The small increase in the bitcoin price can be projected to the stock markets, which also ended yesterday trading mixed. The situation in Ukraine remains unclear after inconsistent news on both sides.
- Dow Jones Industrial Average fell 52.86 points or 0.15% to close at 34,935.98 points.
- The S&P 500 rose 4.09 points, or 0.09%, to close at 4,475.16 points.
- The NASDAQ fell 15.20 points, or 0.11%, to close at 14,124.56.
Meanwhile, Indonesia is tightening regulations of crypto trading in hopes of protecting investors.
The Commodity Futures Trading Agency (Bappebti), part of Indonesia’s Ministry of Trade, wants to strictly regulate cryptocurrency trading. This is to ensure that investors receive clear information about all traded cryptocurrencies.
Indrasari Wisnu Wardhana, acting head of Bappebti, announced on February 13 that crypto-assets products should be registered with Bappebti and that any crypto-assets that do not comply with Bappebti regulations cannot be traded in Indonesia.
Wardhana also urged people to understand the mechanisms and risks before investing in crypto assets.
In January, Indonesia’s Ministry of Commerce reported that the value of crypto transactions in Indonesia could triple to Rp2.5 trillion ($180 billion) this year as Indonesians become more interested in digital assets.
The number of crypto investors in Indonesia rose to 11.2 million last year, up from just 4 million in 2020.
There are currently 11 crypto trading platforms licensed by Bappebti in Indonesia.
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Thursday, February 17, 2022