Indonesia Extends Deadline for Crypto Exchanges to Receive a License

On Oct. 20, the Indonesian Commodity Futures Trading Regulatory Agency, also known as Bappebti, announced in a press release that crypto exchanges have until the last week of November 2024 to meet the requirements for a Physical Crypto Asset Traders license.

This deadline extension applies only to exchanges that are already listed under Prospective Crypto Asset Physical Traders.

This decision was made in accordance with the newly revised government bill, Bappebti Regulation Number 9 of 2024, which mandates that exchanges partner with a local government body and adhere to Know Your Transaction standards in order to be licensed.

It also allows for trading opportunities for institutional entities.