The Indonesian Commodity Futures Trading Regulatory Agency, also known as Bappebti, has announced an extension for Indonesian crypto exchanges to obtain a Physical Crypto Asset Traders license as part of its latest regulatory move.
This decision, made under Bappebti Regulation No. 9 of 2024, grants crypto exchanges until the last week of November 2024 to comply with the updated standards.
Bappebti’s Regulation No. 9 of 2024 is the third amendment to its rules for physical market trading of crypto assets, which were first introduced in 2021.
It outlines the transition from the current provisional status of registered crypto exchanges to a fully licensed PFAK status.
This extension provides more time for prospective crypto exchanges to fulfill their obligations, such as becoming members of the Futures Exchange and the Crypto Futures Clearing House.
