Indonesia extends the license acquisition period for cryptocurrency trading platforms and expands market participation scope

2024-10-22 09:20:59

Collection

ChainCatcher news, the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti) has announced an extension for cryptocurrency trading platforms to obtain the Physical Crypto Asset Trader (PFAK) license.

This decision was made based on Bappebti Regulation No. 9 of 2024, which stipulates that cryptocurrency trading platforms must comply with the latest regulatory standards before the last week of November 2024. This regulation marks the third amendment to the rules governing the organization of trading in physical crypto assets, which were originally established in 2021. It outlines the transition from the current temporary status of registered cryptocurrency trading platforms (CPFAK) to the fully licensed PFAK status.

These changes, including the extension, allow potential crypto trading platforms more time to fulfill the necessary obligations, such as becoming members of futures trading platforms and crypto futures clearinghouses. The new regulations provide additional time for crypto trading platforms and broaden the participation in the crypto market. Previously, only individuals were allowed to become clients of crypto assets. The new guidelines permit legal entities and commercial enterprises to trade crypto assets.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.