ChainCatcher news, Web3 Technology Indonesia successfully held the Web3 Ecosystem Conference today at Senayan City, Jakarta. Key highlights include:Indonesia's first compliant RWA products officially entered the revenue distribution phase, with the first spot RWA subscription window opened on-site, achieving 463 trading units within 30 minutes;Launched the ecological application IP "Suzy" in collaboration with the largest local Web3 community Sekuya, showcasing its virtual image through an LED interactive screen, supporting QR code scanning to participate in a task system for on-chain rewards;Compliant trading platform Mobee announced a strategic partnership with ATT, with both parties collaborating to promote RWA asset listing and liquidity optimization solutions.

ChainCatcher news, Indonesian cryptocurrency exchange Tokocrypto has appointed Calvin Kizana as its new CEO. Tokocrypto has also partnered with digital banking service company BCA Digital to enhance its financial solutions for users.

ChainCatcher news, according to Bitcoin.com, cryptocurrency trading activity in Indonesia grew by 335.9% in 2024, reaching 6.5061 quadrillion Indonesian rupiah (40.2 billion USD). The Commodity Futures Trading Regulatory Agency (Bappebti) attributed this growth to an increase in the number of users and trading volume.As of November 2024, the number of registered cryptocurrency users has grown to 22.1 million. Bappebti head Tirta Karma Senjaya noted that public confidence in cryptocurrency trading has increased and expressed optimism that the user base will exceed 25 million in the near future.The most actively traded cryptocurrencies in Indonesia include USDT, BTC, DOGE, PEPE, and XRP. To simplify regulation, Bappebti announced that its role in cryptocurrency regulation will be transferred to the Financial Services Authority (OJK) this year, although it will still maintain regulatory authority over commodity futures trading.

According to ChainCatcher, TechCrunch reported that Indonesia's antitrust agency KPPU has fined Google 20.25 trillion Indonesian rupiah (approximately 12.6 million USD) for monopolistic practices related to its Google Play Store payment system. KPPU has ordered Google to stop mandating the use of the Google Play Billing (GPB) system and to allow all developers to participate in the User Choice Billing (UCB) program, while also providing at least a 5% service fee discount within one year of the ruling taking effect.The investigation began in 2022 and found that Google forced Indonesian developers to use the GPB system and charged fees of up to 30%, while prohibiting other payment options, resulting in reduced users, decreased transaction volume, and impaired revenue. Google plans to appeal this ruling and stated that its current practices support healthy competition in Indonesia's app ecosystem.Google has previously faced fines and regulatory investigations for similar anti-competitive behavior in India, South Korea, the European Union, and other regions, and Japan's antitrust agency may become the next country to rule that it has violated antitrust laws.

ChainCatcher news, Indonesia has not yet finalized the transfer of cryptocurrency regulation, supervision, and oversight from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK). Since 2018, Bappebti has been responsible for regulating crypto assets. The transition, originally scheduled to be completed by January 12, 2025, has been delayed due to a lack of supportive government regulations.The OJK is expected to create a more transparent regulatory environment that meets international standards. It plans to introduce clearer rules for trading, taxation, and the operation of cryptocurrency exchanges, areas that were previously managed by Bappebti with insufficient regulatory oversight.OJK Chairman Mahendra Siregar stated that discussions and preparations for the regulatory transition are actively underway.

ChainCatcher news, according to Cryptonews, the latest data from the Indonesian Commodity Futures Trading Regulatory Agency (CoFTRA) shows that in 2024, Indonesia's cryptocurrency trading volume has surpassed $30 billion (approximately 475 trillion Indonesian rupiah), a year-on-year increase of 352%.Currently, the number of cryptocurrency trading users in Indonesia has reached 21 million, with 716,000 users trading through locally registered exchanges. Although the current trading volume has not yet exceeded the historical peak of $54 billion in 2021, it has surpassed the total of $19.4 billion for the entire year of 2022.According to Chainalysis data, Indonesia currently ranks third in the global cryptocurrency adoption index, following India and Nigeria.

ChainCatcher news, according to UPBIT's official announcement, the $UXLINK trading pair will be launched on November 8 in the UPBIT markets of Indonesia and Thailand. It is reported that both locations are compliant trading platforms, supporting local users to deposit fiat currency.Mr. Minato, the head of the UXLINK Japan and Southeast Asia market, expressed gratitude for UPBIT's launch in the Indonesian and Thai markets. We have consistently maintained a top ten trading volume at UPBIT's headquarters in Korea, often ranking first, indicating that we have a very active Trader community. We will continue to deepen our efforts in the local market and continuously build a global community of $UXLINK Holders and Traders.

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.

ChainCatcher news, the Indonesian Criminal Investigation Agency (Bareskrim) has collaborated with Binance and Tokocrypto to capture a major fraud operation, identifying multiple suspects and seizing $200,000 in ill-gotten gains.Bareskrim has launched an investigation into a suspected trading fraud case involving a cryptocurrency trading website. The investigation confirmed that the website was part of a pig butchering scam. During the investigation, several individuals involved in managing accounts that received stolen funds were arrested. Authorities discovered approximately 50 mobile phones and several local bank cards, as well as banking applications, on the suspects' mobile phones and tablets. When asked about the cryptocurrency wallets they controlled, the suspects refused to cooperate.Through forensic analysis, Bareskrim investigators identified wallet addresses that may be controlled by the suspects and found supporting evidence in their communication records, particularly on Telegram. Their chat screenshots revealed several key wallet addresses, further linking the suspects to the fraud.Bareskrim has arrested individuals involved in managing the stolen funds.

ChainCatcher news, according to CoinDesk, the blockchain analysis company Chainalysis has released its annual report showing that India and Nigeria continue to hold the top two positions in global cryptocurrency grassroots adoption, while Indonesia is the fastest-growing market. The main points are as follows:Indonesia jumped 4 places to third, becoming one of the fastest-growing crypto markets. In the Central and South Asia and Oceania (CSAO) region, Indonesia's annual growth rate is nearly 200%, with the highest value of cryptocurrency received at approximately $157.1 billion.India's return to the top may be attributed to its recent registrations with offshore exchanges such as Binance and KuCoin, providing more credibility to the crypto ecosystem.

ChainCatcher news, the Indonesian cryptocurrency trading platform Indodax announced on X platform that its security team has discovered potential security signs on the platform. A comprehensive maintenance is currently underway to ensure the entire system operates normally. During this maintenance, the INDODAX web platform and application are temporarily inaccessible. But there is no need to worry, as it can be ensured that users' cryptocurrency and rupiah balances remain 100% secure.

ChainCatcher news, according to Cyvers Alerts monitoring, the wallet of the Indonesian crypto trading platform indodax has conducted over 150 suspicious transactions across different networks, with a total loss of approximately 18.2 million USD. Suspicious addresses are exchanging various tokens for Ethereum.

ChainCatcher news, Binance's Tokocrypto has announced that it has successfully obtained the Physical Crypto Asset Trader (PFAK) license issued by Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti), making Tokocrypto the third exchange in Indonesia to receive the PFAK license. This milestone highlights Tokocrypto and Binance's commitment to regulatory compliance and marks a key moment in the development of Indonesia's crypto asset industry.Binance CEO Richard Teng congratulated Tokocrypto and all parties involved in this significant achievement. Richard stated, "This milestone demonstrates Tokocrypto's unwavering commitment to excellent regulatory practices and its vision of establishing a robust and transparent crypto ecosystem in Indonesia. Binance is dedicated to fully supporting Tokocrypto in fulfilling its mission to advance the Web3 ecosystem in the region." Tokocrypto's user base has exceeded 4.5 million this year, with trading volume increasing by 170% compared to 2023.

ChainCatcher news, according to official news, Tether Operations Limited and the cryptocurrency exchange platform Reku announced a strategic partnership to broaden the understanding of Indonesian people regarding crypto assets and blockchain technology.It is reported that the plan will be implemented through a comprehensive roadshow in ten major cities in Indonesia.

ChainCatcher news, the Kaia Foundation will launch a joint venture project "Galactica" for the tokenization of vessels with Indonesia's leading shipping company PT. Pelayaran Korindo (hereinafter referred to as Pelayaran Korindo) in early Q4 of this year.Pelayaran Korindo is a comprehensive logistics company based in Indonesia, with global business experience, localized expertise in Southeast Asia, and an extensive network of partners. Galactica aims to leverage tokenization technology to provide an innovative vessel purchasing process, with a particular focus on the Indonesian market, which has high vessel purchasing demand due to its approximately 17,000 islands. Galactica plans to raise funds for vessel purchases through decentralized investments in RWA tokens, thereby optimizing the traditional vessel purchasing process and bringing dual benefits to shipowners and investors.

ChainCatcher news, the encrypted media CoinGape reported on X that Indonesian authorities are considering banning the chat software Telegram and the live streaming software BIGO LIVE due to their alleged dissemination of pornographic content and promotion of online gambling.Indonesian Minister of Communication and Information Budi Arie Setiadi revealed that the Ministry of Communication and Information has issued strong warnings to the two platforms, and the responses from Telegram and BIGO LIVE have been insufficient. Budi Arie Setiadi stated: "I hope to ban the aforementioned software immediately, but the team needs to conduct further research first."

ChainCatcher news, according to official sources, Gate Charity, a global non-profit blockchain charity organization under Gate Group, recently successfully held the "Book of the Ocean: Duano Tribe Literacy Campaign" in Indonesia. The event aims to improve the educational level of the Duano tribe, helping this indigenous community traditionally known as "people of the sea" overcome educational barriers. Gate Charity collaborated with local communities, educators, and volunteers to provide essential literacy resources, organized learning activities and games for about 100 local children, and donated books to inspire children's interest in reading and learning, creating a brighter future for the tribe's younger generation. Gate Charity hopes to promote global educational equity and community development through such projects around the world.

ChainCatcher news, according to Jinshi reports, the Governor of Bank Indonesia stated, "We believe there is still room for interest rate cuts in Indonesia in the fourth quarter."

ChainCatcher news, according to CoinDesk, the Indonesian government agency for commodity futures trading supervision (Bappebti) is responsible for regulating cryptocurrencies, and it has recently established a dedicated committee to oversee the industry. The Crypto Asset Committee was formed under regulations issued in January. Cryptocurrencies fall under Bappebti's jurisdiction as they are considered a commodity in Indonesia.Bappebti head Kasan stated on May 2 at the opening ceremony of BLK 2024 in Jakarta: "This committee will be a driving force to ensure that the crypto asset industry continues to operate smoothly and remains within the applicable legal framework. Therefore, optimizing the role of the Crypto Asset Committee should be the focus of deploying the current crypto asset ecosystem."