Odaily Planet Daily News Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) has announced an extension for cryptocurrency exchanges to obtain a Physical Crypto Asset Trading Merchant (PFAK) license. This decision is based on Bappebti Regulation No. 9 of 2024, which stipulates that cryptocurrency exchanges 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 physical market transactions in crypto assets, originally established in 2021. It outlines the transition from the current temporary status of registered cryptocurrency exchanges (CPFAK) to the fully licensed PFAK status. These changes, including the extension, allow potential crypto exchanges more time to fulfill required obligations, such as becoming members of futures exchanges and crypto futures clearing houses. The new regulations provide additional time for crypto exchanges and expand 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. One of Indonesia's largest crypto exchanges, INDODAX, welcomed this extension. Its CEO, Oscar Darmawan, mentioned in a statement that the extra time will enable the exchange to meet the requirements. Darmawan also emphasized that INDODAX has completed significant parts of the process, including obtaining key approvals for exchange and clearing house membership, and is now awaiting final verification from Bappebti.