CoinVoice has recently learned that Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) has announced an extension for cryptocurrency trading platforms to obtain the Physical Cryptocurrency 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 the physical market for cryptocurrency 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 cryptocurrency trading platforms more time to fulfill the required obligations, such as becoming members of futures trading platforms and cryptocurrency futures clearinghouses. The new regulations provide cryptocurrency trading platforms with additional time and expand participation in the cryptocurrency market. Previously, only individuals were allowed to become cryptocurrency asset clients. The new guidelines permit legal entities and commercial enterprises to trade cryptocurrency assets. [Original link]