The proposed law in Indonesia aims to consolidate the central bank's bond purchasing authority and keep regulations in sync with the cryptocurrency sector

ChainCatcher news, according to Bloomberg, Indonesia plans to undertake a comprehensive reform of its financial sector as early as this week. The proposed legislation aims to grant the central bank more rights to purchase government bonds during times of crisis and to maintain the stability of the payment system. Additionally, the bill seeks to keep regulations in line with the rapidly evolving fields of financial technology and cryptocurrency.

It is reported that after the bill was approved by the Finance Committee on December 8, the parliament is scheduled to vote on the measure this week. (Bloomberg)