BCGAME - Free 5BTC Daily Bonus!Binance recently received a cryptocurrency license in Indonesia through a local subsidiary. According to its official statement on September 9, in a significant step, Tokocrypto, which is part of the Binance group, has managed to obtain the Physical Crypto Asset Trader (PFAK) license from the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti).
“Tokocrypto, a member of the Binance group, has received the Physical Crypto Asset Trader (PFAK) license from the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti), marking a significant milestone for Tokocrypto and the Indonesian cryptocurrency industry,” it said.
According to the exchange, Tokocrypto's user base presented significant growth of over 4,5 million this year, with a 138% increase in average monthly trading volume, reflecting growing investor confidence and adoption. “The PFAK license strengthens Tokocrypto’s position as a regulated and trusted platform in the Indonesian Web3 ecosystem.”
“Tokocrypto’s achievement of the PFAK license reflects its commitment to regulatory compliance and fostering investor confidence in the crypto trading space. Having previously registered as a Prospective Physical Crypto Asset Trader (CPFAK) in 2019, the company has now completed a rigorous licensing process to become a fully licensed physical crypto asset trader in Indonesia.”
Commenting on the significant development, Binance CEO Richard Teng praised Tokocrypto’s regulatory achievement, emphasizing Binance’s support for Tokocrypto in its mission to strengthen Indonesia’s Web3 ecosystem.
It is worth remembering that, last week, Binance obtained significant approval to operate in Kazakhstan, an important step in the company's expansion.
Binance in Kazakhstan: Cryptocurrency Exchange Receives Approval for Crypto Trading
Binance, the global leader in cryptocurrency trading volume, has achieved a approval significant opportunity to operate in Kazakhstan, an important development as the company faces regulatory hurdles elsewhere, including the United States.
Confirmed by an official blog post, Binance has obtained a full license from the Astana Financial Services Authority (AFSA). With this, Binance Kazakhstan becomes the country’s first fully regulated digital asset trading facility (DATF).
