Binance’s Indonesian subsidiary, Tokocrypto, has received a full Physical Crypto Asset Trader (PFAK) license from Indonesia's Commodity Futures Trading Regulatory Agency, Bappebti. This milestone allows Tokocrypto to operate as a licensed crypto asset trader, reinforcing Binance’s and Tokocrypto’s commitment to regulatory compliance.
In its statement, Binance expressed excitement over the license, emphasizing its significance in the development of Indonesia’s crypto industry. Tokocrypto initially applied for the license in 2019 and met all regulatory requirements to secure approval.
Tokocrypto CEO Yudhono Rawis highlighted that it is the third exchange in Indonesia to receive this license, out of 35 potential crypto exchanges. The license builds trust among investors and solidifies the company’s role in Indonesia’s growing crypto ecosystem.
Binance CEO Richard Teng praised the achievement, citing it as a reflection of the company’s vision to create a transparent, secure, and regulated crypto trading environment in Indonesia.
