Indonesian Commodity Futures Trading Regulator (Bappebti) has officially registered Zipmex, a Singapore-based crypto exchange, for operation within its limits. Zipmex will now be able to advance its services within the borders of the Southeast Asian country under the watchful eye of its regulator.
Introduction of crypto regulation in Indonesia
This happens shortly after Indonesia has decided to take crypto regulation seriously. Last month, Bappebti stipulated that all crypto exchanges have to register first in order to be able to provide their financial services within national borders.
With the new rules, the stock exchanges operating in Indonesia must also maintain certain operating standards. These standards focus in particular on security, transaction systems and risk control management within the exchanges themselves.
The Mandatory Kind Words
With this in mind, Zipmex co-founder and CEO, Marcus Lim, made a public statement on the entire matter. He said that since Zipmex was founded, the company has been striving to find ways to legitimize its offerings in the digital space and to work with regulators as much as possible. As a result, Lim stated that Zipmex is one of the first companies to officially register with the Indonesian regulator as a crypto trading service provider.