Binance's Indonesian subsidiary, Tokocrypto, has received a full license from the Commodity Futures Trading Regulatory Agency (Bappebti), marking a significant step toward strengthening investor trust and confidence.
Tokocrypto's License
Tokocrypto has become an authorized physical crypto asset trader in Indonesia by obtaining the Physical Crypto Asset Trader (PFAK) license from Bappebti.
Importance of Regulatory Compliance
Binance and Tokocrypto emphasized their commitment to regulatory compliance. In a statement, Binance noted that this license strengthens trust and confidence in their platform.
Challenges in Obtaining the License
Tokocrypto applied for a Prospective Physical Crypto Asset Trader (CPFAK) license in 2019. The licensing process was challenging, and the platform met all criteria established by Bappebti to ensure secure and transparent trading.
Obtaining the PFAK license is a significant milestone for Tokocrypto and Binance, confirming their commitment to providing secure and reliable services to users in Indonesia.
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