CFX Pushes for Single ID Implementation in National Crypto Industry

Crypto bourse PT Central Finansial X (CFX) is advocating for the implementation of a Single Investor Identification (Single ID) system to mitigate the risk of data duplication within the national crypto industry. This initiative aims to improve the accuracy of user data and facilitate a more transparent and efficient crypto ecosystem.

As of November 2024, the number of crypto investors in Indonesia reached 22.11 million. However, this figure is potentially inflated due to overlapping accounts, as each digital financial asset trader operates its own platform and system. CFX believes that a single ID system would minimize such overlaps.

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Source: Investortrust