• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Tokocrypto, Binance subsidiary, receives crypto trading license in Indonesia

user avatar

by Giorgi Kostiuk

a year ago

  1. Recent advancements in crypto licensing
  2. Importance of the PFAK license for Tokocrypto
  3. Future prospects for Binance and Tokocrypto


    4. In recent weeks, there has been a significant increase in activity within the crypto regulatory sector. Among these activities, Binance's Indonesian subsidiary Tokocrypto has received an important license.

    Recent advancements in crypto licensing

    Recently, Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) granted Tokocrypto a Physical Crypto Asset Trader (PFAK) license. This comes after Tokocrypto was initially considered for licensing back in 2019.

    Importance of the PFAK license for Tokocrypto

    Binance representatives stated that Tokocrypto underwent a rigorous licensing process with Bappebti. The PFAK license enables Tokocrypto to trade, buy, and store crypto assets in wallets. Binance CEO Richard Teng commented: 'Binance is committed to fully supporting Tokocrypto in its mission to drive the growth of the Web3 ecosystem in the region.'

    Binance is committed to fully supporting Tokocrypto in its mission to drive the growth of the Web3 ecosystem in the region.Richard Teng

    Future prospects for Binance and Tokocrypto

    Tokocrypto's CEO, Yudhono Rawis, emphasized the significance of the PFAK license in their goal to become the leading digital asset exchange platform in Indonesia. He also highlighted their commitment to maintaining high regulatory compliance standards. Additionally, Binance recently released its latest 'Proof of Reserves', showing a slight decline in Bitcoin and Ethereum holdings, while USDT and BNB reserves remained positive.

    The acquisition of the PFAK license represents a significant step for Tokocrypto and a milestone for Binance's growth in the region. There is an overall positive trend in the crypto market, which may promote further industry development in Indonesia.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Government Attitudes Toward Crypto Shift Across Asia

chest

Political changes in South Korea and regulatory developments across Asia have led to a shift in government attitudes toward cryptocurrencies.

user avatarFilippo Romano

Stablecoins Become a Geopolitical Battlefield in Asia

chest

The regulatory landscape for stablecoins in Asia has become increasingly contentious, particularly in light of China's stance on cryptocurrencies.

user avatarEmily Carter

Shiba Inu Price Declines Amid Market Sentiment

chest

Shiba Inu has seen a significant decline in its price, dropping by 12.2% in the last 24 hours as the broader cryptocurrency market trades in the red.

user avatarKaterina Papadopoulou

BlockDAG Introduces Next-Gen Layer 1 Blockchain Technology

chest

BlockDAG is positioning itself as a high-performance Layer 1 blockchain solution, addressing key challenges in the blockchain space.

user avatarMaya Lundqvist

Shiba Inu Community Burns Over 46 Million Tokens

chest

The Shiba Inu community has burned 46,235,753 SHIB tokens in the last week, significantly impacting the total supply.

user avatarTomas Novak

Apeing Launches Whitelist for Promising Altcoins Under 0.40

chest

Apeing has introduced a whitelist-first approach that allows early participants to secure allocations before public pricing reshapes demand.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.