BITCOINCRYPTOCURENCCYDAILY NEWSDIGITAL CURRENCYHOT NEWS

Crypto investment in Indonesia is predicted to become increasingly successful in 2024, this is the reason

NewYork – Investment in crypto assets is considered to continue to grow this year. Considering a number of regulatory supports for international crypto developments.

Tokocrypto CEO Yudhowo Rawis assesses that the prospects for the crypto market in 2024 look quite optimistic with various supporting factors. Wider acceptance from regulators in various countries and increasing adoption from traditional financial institutions provide a strong foundation for further growth.

“Technological innovation in blockchain and Decentralized Finance (DeFi) also continues to develop, opening up new opportunities for the crypto market,” said Yudho in his statement, Sunday (2/6/2024).

“Overall, the crypto market in Indonesia is showing very positive developments with large growth potential in 2024,” he added.

He said, with the support of better regulations and increasing adoption, the crypto industry in Indonesia is predicted to reach new heights and become an important player in Southeast Asia.

Even so, challenges remain. Crypto price volatility is still a major concern for many investors.

“Apart from that, security issues, money laundering and fraud in the crypto world also need to be addressed to maintain investor confidence,” he stressed.

According to him, the positive trend this time is also supported by several important developments in the global market. The approval of spot Bitcoin ETFs and Ethereum ETFs in the United States as well as BTC and ETH ETP (exchange-traded products) trading on the London Stock Exchange mark significant steps in the adoption of crypto assets by traditional financial institutions.

Greater Liquidity

Changes in the attitude of global regulators, such as the Financial Conduct Authority (FCA) in the UK, which is now more open. As a result, it has the potential to encourage the birth of regulations that are friendlier to crypto assets in various jurisdictions, including Indonesia.

“With the increasing number of financial products available, such as ETFs and ETPs traded on international exchanges, as well as more supportive regulations, investors feel more confident in making transactions. “This encourages market liquidity and creates new opportunities for growth in the value of crypto transactions in Indonesia,” explained Yudho.

Yudho also sees that more harmonious and supportive regulations could be the main driver for the growth of the crypto industry. With countries like the United States and Hong Kong starting to better regulate crypto products, this is paving the way for the growth of more inclusive crypto markets in various countries.

“This is also the hope of industry players for the Financial Services Authority (OJK) which will supervise and regulate crypto assets in early 2025,” he concluded.

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