The South Korean stock exchange, Coinone opens branch in Indonesia

Third largest cryptocurrency exchange in South Korea Coinone announced the opening of a branch in Indonesia. The official launch of the site Coinone indonesia scheduled for June, pre-registration started on April 16.

As reported by the Finance Magnates, initially, the new trading platform will support six cryptocurrency: bitcoin (BTC), bitches (BCH), ether (ETH), Ethereum Classic (ETC), litecoin (LTC) and Quantum (QAU).

Users outside of Indonesia will be able to use the services platform, pre-registering and completing the KYC procedure, according to the website of the exchange.

According to representatives of Coinone, the choice of Indonesia due to the fact that FINTECH-industry of the country has a high development potential.

However, the Indonesian authorities adhere to a relatively rigid position regarding the regulation of cryptocurrencies. So, in January the Central Bank of Indonesia announced about working on a bill prohibiting the use of any cryptocurrency in the country. In October 2017, the Bank announced that it did not recognize bitcoin as legal tender, resulting in two local exchanges had to be closed.

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