Maybe Indonesia will become a starter country that supports cryptocurrencies including bitcoin, so that other developing countries start to adopt bitcoin too. There will be many hurdles for sure, but the Indonesian government's decision to launch their own local exchange is a bold and willing one to accept crypto as a valuable digital asset. Even though it is centralized and requires KYC, it is everyone's choice. There are facilities provided by the government to trade legally so that it does not violate the rules that have been set.
The awareness of Indonesian citizens with the presence of an exchange facilitated by the government will directly have a positive impact, especially for the investors I have mentioned above in responding to the OP topic.
I agree that this is a brave decision to make even though it is still in its early stages after so much planning.
The government needs to expand education to citizens about crypto, including KYC issues, even though KYC is everyone's choice.