INDONESIA CONTENTS
6. Marketplaces, Exchanges and Trading Platforms p.340 6.1 Permissible Trading Platforms p.340 6.2 Regulation of Different Asset Classes p.341 6.3 Impact of the Emergence of Cryptocurrency Exchanges p.342 6.4 Listing Standards p.342 6.5 Order Handling Rules p.343 6.6 Rise of Peer-to-Peer Trading Platforms p.343 6.7 Rules of Payment for Order Flow p.344 6.8 Market Integrity Principles p.344 7. High-Frequency and Algorithmic Trading p.344 7.1 Creation and Usage Regulations p.344 7.2 Requirement to Be Licensed or Otherwise Register as Market Makers When Functioning in a Principal Capacity p.345 7.3 Regulatory Distinction Between Funds and Dealers p.345 7.4 Regulation of Programmers and Programming p.345 8. Insurtech p.345 8.1 Underwriting Processes p.345 8.2 Treatment of Different Types of Insurance p.346 9. Regtech p.346 9.1 Regulation of Regtech Providers p.346 9.2 Contractual Terms to Assure Performance and Accuracy p.347 10. Blockchain p.347 10.1 Use of Blockchain in the Financial Services Industry p.347 10.2 Local Regulators’ Approach to Blockchain p.347 10.3 Classification of Blockchain Assets p.348
10.4 Regulation of “Issuers” of Blockchain Assets p.349 10.5 Regulation of Blockchain Asset Trading Platforms p.349 10.6 Staking p.350
10.7 Crypto-Related Lending p.350 10.8 Cryptocurrency Derivatives p.350 10.9 Decentralised Finance (DeFi) p.350 10.10 Regulation of Funds p.350 10.11 Virtual Currencies p.351 10.12 Non-Fungible Tokens (NFTs) p.351 11. Open Banking p.351 11.1 Regulation of Open Banking p.351 11.2 Concerns Raised by Open Banking p.351 12. Fraud p.352 12.1 Elements of Fraud p.352
12.2 Areas of Regulatory Focus p.353 12.3 Responsibility for Losses p.353
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