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.
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