Binance Subsidiary Tokocrypto Secures Crypto License in Indonesia

On Sep 9, 2024

Tokocrypto has successfully obtained the Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti).

Tokocrypto, an Indonesian cryptocurrency exchange and a subsidiary of Binance, aims to provide a secure platform for trading digital assets in Indonesia. Acquired by Binance in 2020, the exchange focuses on blockchain adoption while adhering to local regulations. By leveraging Binance’s technology and liquidity, Tokocrypto has strengthened its market position.

On 8 Sep 2024, Tokocrypto secured its PFAK license, which grants it full authority to operate as a physical crypto asset trader. This came after five years of being registered as a Prospective Physical Crypto Asset Trader (CPFAK) in 2019. According to Binance, Tokocrypto underwent a rigorous process to obtain the license, increasing user trust and confidence in the platform.

We are thrilled to announce that Tokocrypto, a part of the #Binance group, has secured a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Bappebti.

This milestone highlights our commitment to regulatory compliance and investor trust.

Read more ⤵️… pic.twitter.com/zMxZ2yQJ5g
— Binance (@binance) September 9, 2024

Binance CEO Richard Teng congratulated Tokocrypto on this regulatory milestone.

Thank you @_RichardTeng RichardTheng for the support! 🚀 We’re excited to continue driving crypto growth in Indonesia! 🇮🇩 #Tokocrypto #ExchangeIndonesia https://t.co/rEuIAOYzua
— Tokocrypto (@Tokocrypto) September 9, 2024

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