Share this article
BTC
$94,168.35
-
0.20%ETH
$1,806.86
-
0.04%USDT
$1.0002
-
0.01%XRP
$2.1738
-
1.76%BNB
$599.53
-
0.41%SOL
$147.79
-
2.04%USDC
$1.0000
+
0.01%DOGE
$0.1802
-
2.25%ADA
$0.7008
-
3.03%TRX
$0.2509
+
2.00%SUI
$3.6186
+
2.95%LINK
$14.58
-
2.96%AVAX
$22.29
-
0.69%XLM
$0.2852
-
2.31%LEO
$9.0120
-
0.52%TON
$3.2831
+
1.68%SHIB
$0.0₄1381
-
4.83%HBAR
$0.1890
-
2.74%BCH
$353.27
-
2.87%LTC
$85.56
-
1.55%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Binance Unit Tokocrypto Is Third Crypto Exchange to Score Full License in Indonesia
More than 30 exchanges still have applications pending.
- Binance's Indonesia subsidiary has won a full license from the nation's Commodity Futures Trading Regulatory Agency.
- More than 30 crypto exchanges have applied for a full license.
Binance subsidiary Tokocrypto, an Indonesian cryptocurrency exchange, has obtained a full license as a Physical Crypto Asset Trader (PFAK) from the country's Commodity Futures Trading Regulatory Agency, known as Bappebti.
Binance acquired Tokocrypto in late 2022, having previously been a majority shareholder of the company.
STORY CONTINUES BELOW
In late 2023, Indonesia introduced a requirement for all crypto exchanges to register with what it called the world's first national bourse for crypto assets. The bourse – the Commodity Future Exchange (CFX) – would be regulated by Bappebti and function like a traditional stock exchange, but with a specific focus on digital assets.
The regulatory development came as a response to the high local demand for crypto in Indonesia.
"We are proud of this achievement to become the third exchange to receive PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti," Tokocrypto CEO Yudhono said in a statement.
Read More: New Binance CEO Sees No Need for IPO as He Plots 100-Year Strategy for Crypto Exchange
Amitoj Singh
Amitoj Singh is a CoinDesk reporter focusing on regulation and the politics shaping the future of finance. He also presents shows for CoinDesk TV on occasion. He has previously contributed to various news organizations such as CNN, Al Jazeera, Business Insider and SBS Australia. Previously, he was Principal Anchor and News Editor at NDTV (New Delhi Television Ltd.), the go-to news network for Indians globally. Amitoj owns a marginal amount of Bitcoin and Ether below CoinDesk's disclosure threshold of $1,000.
