Indonesian crypto exchange Tokocrypto has secured a full license from the country's Commodity Futures Trading Regulatory Agency (Bappebti). Binance, which made an investment in the exchange in 2020, called Tokocrypto one of its subsidiaries and stated that the platform obtained the Physical Crypto Asset Trader (PFAK) license.

The license grants Tokocrypto authorization to operate as a licensed crypto asset trading platform in compliance with regulations. Binance increased its stake in Tokocrypto in 2022, further solidifying its position in the Indonesian market.

Since 2014, Indonesian exchanges have been categorized as "prospective crypto exchanges," operating under provisional regulatory frameworks. Tokocrypto was registered in 2019 as a Prospective Physical Crypto Asset Trader (CPFAK).

The move comes after Bappebti's 2019 mandate requiring all crypto exchanges to seek proper authorization to continue operating legally in the country. Tokocrypto has now completed a rigorous licensing process to become a fully authorized physical crypto asset trader in Indonesia.

Source: https://99bitcoins.com/news/binance-backed-tokocrypto-gains-full-license-from-indonesian-regulator/

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