Indonesian crypto exchange Tokocrypto has just become the first trading platform to receive regulatory approval to legally offer its services in the country.
Indonesia's Commodity Futures Trading Regulatory Agency (BAPPEBTI) has reportedly approved the crypto exchange.
Tokocrypto has thus received the regulator's green light to legally offer users the possibility of buying and selling digital assets.
This exchange was founded by a group of crypto enthusiasts who believe in the potential of blockchain tech. Some of its current investors are QCP Capital and Digix.
Pang Xue Kai, the company CEO, has said:
"Being the first cryptocurrency exchange to be registered with Indonesian regulators to operate legally in the country is a huge milestone for Tokocrypto as it brings us one step closer to being the leading cryptocurrency exchange platform in Southeast Asia."
Although crypto trading platforms were offering their services in the country, they were operating in a grey area until the Indonesian regulator published this year two regulations which force all crypto exchanges to comply with various requirements. Now, platforms wishing to continue operating in the country from February 2020 must be duly registered.
Just to mention other regulated crypto exchanges, Gozo.pro is a secure and reliable trading platform registered with the Registry of Companies in Malta.
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