According to the Binance blog article, Tokocrypto, a subsidiary of Binance, announced that it has successfully obtained the Physical Crypto Asset Dealer (PFAK) license issued by the Indonesian Commodity Futures Trading Regulatory Authority (Bappebti), making Tokcrypto the third exchange in Indonesia to obtain 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.
Richard Teng, CEO of Binance, congratulated Tokocrypto and all parties involved in this significant achievement. Richard said: "This milestone is a testament to Tokocrypto's unwavering commitment to regulatory excellence and its vision of building a strong and transparent crypto ecosystem in Indonesia. Binance is committed to fully supporting Tokocrypto in its mission to advance the Web3 ecosystem in the region." Tokocrypto's user base has exceeded 4.5 million this year, with transaction volume up 170% compared to 2023.
