March 4, 2024

Zipmex cryptocurrency exchange licensed by Indonesian regulator

Cryptocurrency exchange Zipmex, operating in the Asia-Pacific region, received a license from IndonesiaFutures Market Supervisory Board (Bappebti).

According to the Zipmex manual, even if eachthe jurisdiction has its own set of requirements and rules for the regulation of cryptocurrency activities, the general requirements of world regulators regarding the fight against money laundering (AML) do not differ from each other. Bank Yimwilai, Zipmex Legal Specialist, explained:

“Working with different countries, we follow the forefrontstandards of each individual region. For example, we comply with AML requirements established by the Australian regulator AUSTRAC, as well as the requirements of the Thai Securities and Exchange Commission (SEC), and these rules apply in all markets where we operate. ”

Last February, Bappebti introduced newrules for trading cryptocurrency futures with the aim of introducing legal certainty and protecting consumer rights, although Indonesia had previously refused to recognize digital currencies as legal financial instruments. As for Thailand's SEC, this year the agency plans to update cryptocurrency regulation and take next steps towards the industry.