Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) has announced an extension for cryptocurrency exchanges to meet the licensing requirements to become physical crypto asset traders.
The new deadline has been set for the last week of November, following updates to the current regulations published on October 18.
To remain compliant, platforms must partner with local government agencies and implement "know your transactions" rules.
This move toward stricter regulations began in 2019 with the introduction of licensing requirements for crypto exchanges in Indonesia.