In response to foreign media reports about Binance's acquisition of Indonesian exchange Tokocrypto, Binance founder and CEO Changpeng Zhao (CZ) said that Binance has always been a major shareholder of Tokocrypto exchange, and this time it just injected more funds and increased its shares. In addition, CZ said that after the implementation of the new tax system, the volume of cryptocurrency transactions in Indonesia has dropped sharply. According to a previous report by CoinDesk Indonesia, Binance confirmed its acquisition of Indonesian exchange Tokocrypto. Binance said that "it will gradually increase its shareholding in Tokocrypto to nearly 100%." ​​Tokocrypto CEO Pang Xue Kai will step down and Yudhono Rawis will serve as interim CEO. In the future, it will focus on the exchange business, and business activities outside the exchange will be suspended.