Binance described Tokocrypto as its “subsidiary,” suggesting that it may have a controlling stake in the Indonesian trading platform.
Indonesian exchange Tokocrypto has received a full license under the country’s Commodity Futures Trading Regulatory Agency, also known as “Bappebti.”
On Sept. 9, Tokocrypto announced that it received the Physical Crypto Asset Trader (PFAK) license from Bappebti. The license gives the company full authority to operate as a physical crypto asset trader and ensures that the trading platform complies with the country’s trading rules.
Since 2014, exchanges in Indonesia operated within a “prospective crypto exchange” category. In 2019, Tokocrypto was also registered as a Prospective Physical Crypto Asset Trader (CPFAK). In the same year, Bappebti required all exchanges operating in Indonesia to seek authorization, providing a framework for a full license.
