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Jakarta, Indonesia, April 8, 2024, Chainwire
PT Bursa Komoditi Nusantara (CFX), the world's first national Indonesian crypto exchange, continues to strengthen the domestic cryptocurrency ecosystem. To date, there are 35 potential crypto exchanges registered with the Commodity Futures Trading Regulatory Agency (Bappebti).
To become a regulated crypto exchange in Indonesia, crypto companies need a Member Approval Letter (SPAB) from CFX. Four crypto exchanges, namely PT Pintu Kemana Saja (PINTU), PT Bumi Santosa Cemerlang (PLUANG), PT Kripto Maksima Koin (Kripto Maksima – GOTO Group) and PT Aset Digital Berkat (TOKOCRYPTO), have received SPAB from CFX.
“The four crypto exchanges that received SPAB approvals from CFX have contributed to more than 50% of Indonesia’s total crypto trading volume. Data from Bappebti shows a significant increase in total transactions, reaching IDR 55.26 trillion from January to February 2024. This increase represents an increase of 113% compared to IDR 25.94 trillion in the same period last year,” said President and Director of CFX Subani.
Subani added: “We encourage remaining crypto companies to complete the registration process. Becoming a regulated crypto exchange means a commitment to exceed industry standards and comply with Indonesian regulations. This is in line with CFX’s mission to promote a safe and well-regulated crypto ecosystem in Indonesia.”
The Indonesian crypto industry is tightening its belt with regulations. Bappebti (Bappebti Regulation No. 8 of 2021, as amended by No. 13 of 2022) urges crypto traders to quickly apply for a license to trade physical crypto assets. This license requires approval from CFX (SPAB) and compliance with Bappebti's requirements, transforming applicants from “prospective” to licensed “physical” crypto asset traders.
Indonesia has broken new ground with the launch of CFX, the world's first official crypto exchange. Founded in July 2023 by the Indonesian Ministry of Trade (Kemendag) and Bappebti, CFX aims to bring more security and stability to the Indonesian crypto market. CFX is designed similarly to traditional exchanges such as NASDAQ and focuses specifically on cryptocurrency trading. This innovative platform demonstrates Indonesia's commitment to creating a safer environment for investors and businesses in the crypto space.
“Strong regulations are critical to the future of Indonesia’s crypto industry. CFX is fully committed to working with Bappebti and other stakeholders to create a safe, transparent and reliable cryptocurrency environment. As a crypto exchange, we strongly support Bappebti’s efforts to prioritize consumer safety,” concluded Subani.
About CFX Indonesia
CFX is the leading crypto asset exchange regulated in Indonesia and plays a crucial role in driving the growth and development of the digital assets market in Indonesia. We are committed to the highest standards of compliance and strengthen investor protection by overseeing Indonesian crypto exchanges, introducing innovative products into broader digital asset businesses by providing the highest standards of security and transparency to improve the Indonesian crypto ecosystem.
For more information, visit www.cfx.co.id.
Contactpublic relationKrizia Putri KinantiCFX[email protected]+6281294744410
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