The Indonesian agency Bappebti has extended the deadline for cryptocurrency exchanges to obtain licenses until the end of November. New rules, published on October 18, require exchanges to cooperate with local authorities and implement "Know Your Transaction" standards to comply with regulations.
Licensing for cryptocurrency exchanges in Indonesia began in 2019. In 2023, a national cryptocurrency exchange was launched, requiring mandatory registration of exchanges. This is aimed at increasing investor safety and controlling tax obligations. More than 30 exchanges have applied for licensing, including Tokocrypto, a subsidiary of Binance.