Indonesia Extends Deadline for Crypto Exchanges to Meet Licensing Requirements

Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) has extended the deadline for crypto exchanges to become Physical Crypto Asset Traders until the last week of November. Over 30 crypto exchanges have applied for a full license under the updated regulations released on Oct 18. To remain compliant, exchanges must now form partnerships with local government bodies and introduce Know Your Transactions standards. The recent price rise of Bitcoin is driving interest in the cryptocurrency market, with some predicting a potential value of $100,000.